USA Wins! Mexico Destroys China’s $320 Million Lithium Mining Project | China Suffers Heavy Losses

#china #project #trading #america #mexico #lithium #corn

Ganfeng Lithium is one of the largest producers of lithium products in China and one of the largest holders of lithium resources in the world.

As of 2020, China's lithium resources are 5.1 million tons.

However, China consumes 100,000 tons of lithium resources every year, and this amount is still growing year by year.

Since China's own resources cannot meet the growing demand, Ganfeng Lithium has been actively investing in lithium mining projects around the world.

After many inspections, Ganfeng Lithium found that the Sonora lithium clay project in Mexico was very suitable for its needs.

Therefore, in June 2019, Ganfeng Lithium acquired 100% of the Sonora project for £258 million.

At that time, the Mexican government welcomed and supported this and granted Ganfeng Lithium nine lithium mine concessions, valid for 50 years.

Surprisingly, after Ganfeng Lithium invested hundreds of millions of dollars in infrastructure construction for the Sonora project, including the purchase of roads, hydropower facilities and mining equipment, the Mexican government suddenly changed its stance.

It is understood that lithium resources are one of Mexico’s main economic sources.

Now, Mexico is self-destructing by restricting other countries’ mining activities. So why is Mexico doing this?

[passingwind]

An indecisive / mediocre government, easily influenced by others ... 😳😳😳

[peterfung]

Never again should China enter into another investment contract with untrustworthy Mexico. USA definitely has a hand on this. China should source it's agri products elsewhere.

[thomassimmer]

This is my first exposure to "World Answer" and I found it unsatisfactory. Your analysis of America's lithium reserves is outdated and erroneous. Lithium reserves have grown worldwide due to "price elasticity"--meaning that high prices and visibility have motivated exploration leading to vast new discoveries. Mexico has also attracted Tesla's Gigafactory and Tesla is opening a huge lithium refinery in Corpus Christi. Could this have been part of the deal? Finally, throughout Latin America the nationalization of Lithium reserves is quite common and this may only be part of a cultural attitude toward foreign ownership of domestic assets. The part about Biden was made up and implausible on many levels.

[pekjinoei]

Country like Mexico will learned his lesson hard... By and by, Mexico will lose friends which can help him in needs... More over we are in information highway era, everything will be recorded well...

[parttimethinker]

Mexico was bought by American way back then. Poncho Villa tried to upset this status quo. Unfortunately he lost. Mexico no longer has any chance of doing that again.

[emmanuelxarhin]

Mexico is not a country that has been bold since memorial with America

[evens]

They are going to do it to the US for free

[EM-dwyv]

dont umderstimate mexican president.
there other lithium mines in sonora. and zacatecas

[worldpeace]

I love this Chinese propaganda channel😊❤