- Ganfeng sought partnership in project valued at $1 billion
- Mexico canceled deal in effort to nationalize sector
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.
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