After nationalizing its lithium resources in April, Mexican President Andres Manuel Lopez Obrador created a state-run company, Litio para Mexico (Lithium for Mexico), to mine the metal this week, according to Reuters. It will reportedly begin operations within the next six months.
Mexico does not currently produce a meaningful amount of lithium. The U.S. Geological Survey estimates Mexico’s known lithium reserves at 1.7 million tons, which ranks it eighth among the countries that have a significant amount of known lithium reserves.
