On December 1, Jiangxi Ganfeng Lithium Group Co LTD disclosed the progress of the Sonora project in Mexico.
"World Mining" has introduced Ganfeng Lithium acquisition of the project:
Ganfeng Lithium acquires 100% stake in Sonora lithium clay project after acquiring Bacanora Lithium for 1.7 billion yuan
Ganfeng Lithium stated that in August 2023, the Mexican General Administration of Mines issued a notice of resolution to the company's three holding subsidiaries registered in Mexico (hereinafter referred to as the "Mexican subsidiaries") to cancel nine mineral concessions held by the company, which allowed the company to develop the Sonora project in Mexico. Upon receipt of the notice, Ganfeng International Trading (Shanghai) Co., LTD., a wholly-owned subsidiary of the Company, and its Mexican subsidiary filed an administrative reconsideration against the above resolution with the Ministry of Economic Affairs of Mexico (hereinafter referred to as the "Ministry of Economic Affairs"). For details, please refer to Section 10 of the Financial Report after the balance sheet Events in the Company's semi-annual report for 2023 disclosed on August 30, 2023 on the Great Tide Information Network.
Recently, Ganfeng Lithium received a notice from Ganfeng International Trading (Shanghai) Co., LTD., regarding the administrative reconsideration previously filed by Ganfeng International Trading (Shanghai) Co., Ltd. and its Mexican subsidiary, the Ministry of Economic Affairs maintains the decision of the former Mexican General Administration of Mines to cancel the mineral concession. The Company, through its subsidiaries, will pursue additional countermeasures under Mexican or international law, including but not limited to international arbitration or administrative proceedings. The company will take all measures to protect the legitimate rights and interests of the company.
