Mexican company quantifies lithium

Mr Parga said that the latest studies on 6,672 acres of the massive property were completed last week but are constantly being revised.

A Mexican mining firm has found a gigantic deposit of lithium and potash in an area across Zacatecas and San Luis de Potosi. The find could turn Mexico into one of the world’s leading lithium producers at a time the metal is gaining importance and attracting huge investments.

It’s worth considering how the Mexican government will regulate/manage the deposits. With Pemex facing declining production, the Mexican government needs additional revenues and has to view lithium as a potential income source.

Mr Martin Sutti CEO of Piero Sutti Mining said that however, only a small fraction of the property spanning 124,000 acres has been studied and the area could hold as much as 800,000 tonnes of lithium.

The report said that lithium carbonate is the main component of the rechargeable batteries that power laptop computers, cell phones and digital cameras. Demand for the metal could soar over the next decade if car manufactures turn to lithium batteries to power the next generation of electric and hybrid vehicles.

The lightweight, energy efficient metal has never before been discovered in Mexico. Bolivia owns about 50% of the world’s lithium deposits with some 5.4 million tonnes.

Mr Sutti said that the rich potash resource at the site could be exploited to meet Mexico’s local demand, since the country currently imports potash for the agriculture industry.

(Sourced from Reuters)