Mexico City. – The Chinese company Ganfeng Lithium Ltd., One of the world’s largest lithium producers, has offered to acquire 100% of the shares it does not yet own in the British company Lithium BacanoraThe company is partnering with it in a mineral extraction project in Mexico.

Ganfeng and Bacanora form the Sonora Lithium mineral extraction consortium in Bacadéhuachi, Sonora, whose total potential and proven reserves of lithium are 243 million tons, equivalent to 4.5 million tons of lithium carbonate equivalent.

Mining Technology positions it as the single venture with the largest reserves in the world. The approximate value of the bid by the Chinese will be $ 264.5 million.

Actions started

Actions Lithium Bacanora On Thursday, they slipped from 44.25 to 62.50 pounds after the offer was announced, according to data from Bloomberg.

Since 2012, Bacanora Minerals and Ganfeng lithium They obtained 10 concessions, valid for 50 years, to explore and exploit 100,000 hectares of land in Bakadihuachi, Sonora.

Lithium, known as “white gold” or “the oil of the future,” is used in new technologies for cell phones, electric car batteries, and medicines, and many deposits have already been ceded to individuals.

The current importance of lithium is that the federal government has indicated that it is assessing how to increase its involvement in its extraction.