Lithium sovereignty in Mexico: how many times could external debt be repaid with this mineral

This Tuesday, April 19, the presidential initiative to ensure that lithium is for the exclusive use of the nation is being discussed in the Senate of the Republic. Given the importance that this mineral could have in the national economy, the Morena bank explained what this metal could be worth compared to Mexico's foreign debt.

Following President Andrés Manuel López Obrador's (AMLO) refusal to the Electricity Reform in the Chamber of Deputies, on Sunday 17, early on Monday 18, the national president presented his new reform to the Mining Law, which promotes the exploration, exploitation and exploitation of lithium and its economic value chains to be used exclusive to the Mexican State.

It also proposes the creation of an autonomous public body to ensure that the State can take advantage of all the advantages that this metal may attract. Thus, the Chamber of Deputies, in a new vote, approved the reform with 298 demonstrations in favor, 197 abstentions and zero against.

As part of the parliamentary protocol, the minutes approved in San Lazaro were sent to the Senate, where it is expected to be ratified; however, before this happens, Senator Alejandro Armenta, president of the Finance and Public Credit Commission, took the attribute of explaining, according to geological speculations, to how much are the equivalent of lithium reserves in Mexico.

During his presentation, Armenta Mier pointed out that according to the mining concessions that have been made in relation to lithium, this mineral is in such abundance that it could cover Mexico's foreign debt several times.

To get an idea, the amount it refers to is 49.5 trillion pesos: “Our country's external debt is 11 trillion pesos, so we could pay any debt within a period that, in financial matters, was established.”

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