“The nationalization of lithium, a twist for our new industrial policy”

Accompanied by President Andrés Manuel López Obrador, the official considered that, like the oil expropriation, the nationalization of lithium deepens the transformation project for Mexico in the 21st century.

“In the Mexican government and in the Ministry of Economy we promote investments with a social dimension, because we are laying the foundations of an industrial and clean energy policy for the next 50, 70 years, because we think and work for future generations of Mexico.

The public policies of the Fourth Transformation are not conjunctural”, he added.

Raquel Buenrostro took the opportunity to highlight the levels of investment that have arrived in Mexico and the opportunities that are available with nearshoring.

“The relocation of investments from Asia to our country is a reality, as shown by the 35.291 million dollars of foreign investment that we were able to attract in 2022. And I have no doubt that in 2023 we will break records again.”

He commented that in order to achieve this purpose it is important to be in permanent contact with private investments and governments from all over the world, to show that Mexico offers unbeatable conditions to bet resources.

He added that the country stands out for offering political stability, economic strength with healthy public finances and legal certainty.

Raquel Buenrosto mentioned that one of the industries that will benefit most from the new industrial policy and the nationalization of lithium will be the automotive industry, which will achieve a reconversion in the future.

“[El cambio] from internal combustion vehicles to electric ones is underway and will grow exponentially in the coming years. But to do so, it needs lithium, and what better opportunity for the industry than to do it hand in hand with the specialized knowledge and experience of Mexican workers”.

He assured that it is in this context that automakers are looking for Mexico to settle here. “The nationalization of Mexican lithium, accompanied by the labor professionalism of Mexicans will mark a new era in the automotive industry, whose origins date back to 1925 when the first assembly plant was inaugurated in Mexico City.”

“With today’s lithium reserve declaration and the industrial industry policy that we seek to implement from the Ministry of Economy, [México] it will have a bright future for several more decades.”