Market Chatter: Ganfeng Lithium Files for Arbitration Against Mexico

MT Newswires Live06-25

Ganfeng Lithium Group (SHE:002460, HKG:1772) filed an international arbitration case against Mexico after the government canceled a potential lithium mining project last year, Reuters reported Monday, citing the World Bank's dispute settlement center.

The case was filed on June 21 with the International Centre for Settlement of Investment Disputes by Ganfeng International Trading, Bacanora Lithium and Sonora Lithium.

Mexico canceled Ganfeng Lithium's Sonora concessions in August 2023, citing the company's failure to comply with minimum investment requirements, following President AndrÃ©s Manuel LÃ³pez Obrador's nationalization of the country's lithium industry in 2022, Reuters wrote.

In November 2023, Mexico's economy ministry upheld the cancellation.

Ganfeng Lithium Group shares were down 1% in recent trade on the Shanghai bourse.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

Price (HKD): $28.26, Change: $-0.30, Percent Change: -1.05%

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