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A reform to the federal Mining Law that nationalizes lithium will take effect this week after it was approved by the Senate on Tuesday.
The law declares that lithium “is an asset of the nation and its exploration, exploitation, extraction and use is reserved in favor of the people of Mexico.”
No new concessions for the mining of the metal – a key component of lithium-ion batteries used in electronic devices and for green energy storage – will be issued to foreign or private companies as a result of the reform, allowing Lpez Obrador to fulfill his pledge to create a state-owned lithium company.
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