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Southern Copper mulling Mexico lithium foray

Bnamericas Published: Thursday, March 14, 2019
Southern Copper mulling Mexico lithium foray

Southern Copper is considering acquiring a Mexican lithium project.

CEO Óscar González told Reuters that officials from the company have visited the Sonora state project, which has also received interest from potential Chinese investors.

Neither the identity of the owner nor the name of the project was revealed, although González said the potential seller is Canadian.

Southern Copper has yet to make a formal offer, but the CEO said he sees lithium as "interesting and profitable."

Mexico is not yet a lithium producer, but UK-based and formerly Canada-headquartered Bacanora Lithium is seeking funding to advance its US$420mn Sonora lithium project, which is due to produce 35,000t/y lithium carbonate.

Southern Copper, the biggest miner of the red metal in Mexico and Peru, is controlled by Mexican conglomerate Grupo México.

In addition to its mines, the company is advancing Mexican copper projects including Pilares, El Pilar and El Arco, and the Buenavista zinc concentrator project.

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