Initiative To Amend The Mining Law

After discussion and approval by the Congress of the Union, on April 20, 2022, the Order to amend the Mining Law ("Order"), as proposed by the President of Mexico, Andrés Manuel López Obrador on April 17, 2020, was published in the Federal Gazette. Below is a summary of some of the salient features of the Order:

• Exploration, exploitation, and use of lithium will be considered as activities of public utility, reserved to the Mexican State.
• No concessions, licenses, contracts, permits, or authorizations may be granted to private parties.
• The State will create a decentralized public entity, which will be responsible for the exploration, exploitation, and use of lithium in favor of the Mexican State.