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President presents proposed names for Mexico’s new lithium company

Mexico City, Mexico — President Andrés Manuel López Obrador (AMLO) has presented two possible names for the company that will be created to manage the country’s lithium.

On Thursday, AMLO announced that the proposed names are Mexican Lithium Agency (AMLITIO) and Mexican Lithium (LITIOMEX), acknowledging that there is already a company called LitioMex.

AMLO said that he was happy that lithium was nationalized after the Senate approved the reform of the Mining Law earlier this week. He took a moment from his morning press conference to thank those who supported the reform, adding that since lithium is the property of the nation, “no abuses will be committed by a foreign country who wants to appropriate what belongs to the people of Mexico”.

The reform to the Mining Law proposed by AMLO was published April 20 in the Official Gazette of the Federation (DOF). The changes in the Mining Law declare lithium as a public utility metal, which reserves its exploration, exploitation, profit and use for Mexico.

Now, he says, they will move forward with the company, the hiring of experts in mining or public administration and the joint exploration of the geological system.

“Do not think only short term. This is going to take time. All mining exploration takes time. It is exploration, then it is the extraction processes and the transformation of matter,” he said.