Through a statement, the Federal Commission of Economic Competition (Cofece), indicated that the country’s mining sector is regulated by the Ministry of Economy (SE), under the ownership of Tatiana Clouthier, who grants the concessions and everything related to the industry.
In the document, the Commission indicated that it is the Federal Executive, through the Ministry of Economy, who should ensure the observance of the Mining Lawas well as any topic that is linked to the exploration, exploitation and benefit of minerals that are within the national territory, in this case the issue that arises around lithium.
This includes the granting, nullity or cancellation of part of the concessions. Therefore, the agency indicated that it does not have the capacity to issue any determination of this nature.
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He stressed that in terms of Mining Law The concessions will be granted to companies constituted in accordance with Mexican law, and the participation of foreign investors will be adjusted to the provisions of the law on the matter. He added that the Foreign Investment Lawallows foreign capital to invest in national mining, unless it is radioactive minerals.
In addition, Cofece pointed out that within the file CNT-097-2021only the request for concentration of foreign companies was resolved Ganfeng International Tranding (Ganfeng) and Bacanora Lithium (Bacanora). This is due to the fact that Ganfeng indirectly acquired participation in the capital stock of different Mexican subsidiaries, including some that have had concessions for years. mining granted by the Federal Government.
“It should be noted that the operation involved a shareholder change of the Mexican companies holding the concessions, and other foreign investors who already participated in the Mexican concessionaire companies, a common situation in the Mexican mining sector,” Cofece said in the statement.
The antitrust agency said that the operation involved a change in shares of the Mexican companies holding the concessionsand others Foreign investors that already participated in the Mexican concessionary companies, a common situation in the Mexican mining sector.
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According to Federal Law of Economic Competitionthe aforementioned operation had to be notified and Cofece had the obligation to rule on it, only within the scope of its powers, that is, for the purpose of verifying any adverse impact on competition in which in this case it was ruled out, he added the dependence.
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