Mexico lower house backs mining law change to nationalize lithium

Mexico's lower house of Congress on Monday passed an amendment to mining legislation in order to nationalize the country's lithium reserves, a day after the bill was sent to lawmakers by President Andres Manuel Lopez Obrador.

The president's initiative, approved with 298 votes in favor, modified parts of a 1992 law, and states that lithium exploration, exploitation and use will be exclusively reserved for the Mexican state under a federal authority.

Lopez Obrador sent the proposal to Congress after the defeat on Sunday night of a broader electricity sector overhaul he had championed. The proposal now passes to the Senate.