Bacanora Lithium PLC has responded to proposals of new legislation from the Mexican government in regard to lithium concessions.
On 1 October 2021, the Mexican government submitted to Congress a proposal for constitutional changes with the primary objective of strengthening the state electricity company.
As part of these reforms, future lithium concessions would be held by the state.
The new reforms will not affect lithium licences already granted to private companies, provided exploration work had already commenced and all licence requirements had been met.
It is the view of Bacanora that it has met these requirements, including through the commencement of early construction activities at the Sonora lithium project, the company said in a statement.