Top China Lithium Firm Files International Claim Against Mexico

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A geologist with a polished core sample showing raw materials that are typically extracted during lithium mining operations at the Albermarle mine in Kings Mountain, North Carolina, U.S., on Aug. 10, 2022. Photo: Bloomberg

(Bloomberg) — Ganfeng Lithium has filed an international arbitration case against Mexico after the Latin American nation canceled a potential mining project valued at more than $1 billion.

Efforts by Ganfeng, China’s top lithium firm, to build Mexico’s first commercial lithium mine were upended by 2022 legislation championed by President Andres Manuel Lopez Obrador who sought to nationalize the sector to prevent foreign countries from exploiting a strategic resource.