State-owned lithium company explores geothermal lithium in Mexico
Cerro Prieto geothermal plant (source: Government of Baja California, creative commons)
Carlo Cariaga
20 Apr 2023
State-run lithium mining company Litio para Mexico is now exploring the potential for lithium extraction using Mexico's geothermal resources.
Mexico’s state-owned lithium mining company, Litio para Mexico (LitioMx), is currently exploring methods to extract lithium from geothermal resources. CEO Pablo Taddei announced these plans during the 2030 California-Mexico Summit held in Mexico City.
State-run LitioMx was formed in 2022 following a decree issued by the Mexican Government. According to President Andres Manuel Lopez, the goal for the founding of the entity is to ensure that Mexico’s lithium resources remain in the state’s hands. A handful of foreign companies have contracts to explore lithium deposits in Mexico, but the President stated that these contracts were under review,
Taddei further highlighted the lithium potential in the Cerro Prieto geothermal power plant in Baja California operated by the Federal Electricity Commission (CFE). He declined to provide numbers or concrete details for now, but described the exploration process as “very ambitious” and that data on lithium resources and reserves continue to grow.
This will be the first significant initiative to explore lithium extraction from the geothermal resources of Mexico since a Canadian-Mexican joint venture formed back in 2009.
Source: Bloomberg Linea and Reuters
