AZMEX SPECIAL 22-5-19

AZMEX SPECIAL 22 MAY 2019

Note: as China continues to gain control of strategic minerals.
Thx


Chinese company will invest in Sonora Lithium project
Details Published on Wednesday, May 22, 2019,
Written by Writing / The Journal

http://www.eldiariodesonora.com.mx/notas.php?nota=129488

Hermosillo, Son

Bacanora Lithium announced that the Chinese company Ganfeng Lithium acquired 29.9%
for the project in Sonora, Mexico, said Jorge Vidal Ahumada.

The economy secretary said that the mining company pointed to Ganfeng Lithium
as one of the largest lithium producers in the world,
and they were looking for a supply chain in Mexico, and it is specifically in Sonora, where they want to invest.

A few days ago, Vidal Ahumada met with businessmen from Bacanora Lithium,
who informed him of the intention of the Chinese company to invest in the Sonora Lithium project,
from which several products of this strategic mineral of high demand for modern life will be obtained.

"The trust generated by the government of Claudia Pavlovich Arellano allows more foreign investors
to turn to Sonora to land their projects," said the Minister of Economy.

The state official added that this project will position Sonora as the first producing state of Lithium in Mexico,
and it is estimated that by the year 2020 the entity will appear on the world map of lithium producers.

He recalled that in the first stage of the company Sonora Lithium will invest 420 million dollars,
generating one thousand 200 jobs in its construction and 260 in its operation.

Within its plans for the expansion stage, contemplated for 2021,
an additional investment of 380 million dollars is projected, in addition to increasing to 490 employees, he added.

Currently they make adjustments to the construction budgets between Bacanora Lithium
and the company ICA Flour, contracted as EPC (Engineering, Procurement and Costruction),
for the construction of the plant 10 kilometers from the town of Bacadéhuachi.

The Secretary of Economy said that 95% of the workforce of this mine will be Sonoran,
because they recognize the high degree of specialization of human capital in the technical development, he said.

This investment project brings as a main market the automotive industry of electric cars
that are manufactured in Arizona, he said.


END