The federal executive published in the Federal Official Gazette (Diario Oficial de la Federación or DOF) on Aug. 23, 2022, the Creation Decree of the decentralized public agency called Lithium for Mexico (Litio para Mexico). This publication was derived from the amendments to the Mining Law published in the DOF on April 20, 2022, by the Ministry of Energy.

Litio para México or "LitioMx"

The decentralized public agency of the Federal Public Administration Litio para México (Lithium for Mexico), with the acronym "LitioMx", was created. LitioMx will be the entity in charge of exploring, exploiting and carrying out the benefit and use of lithium in Mexican territory, including the administration and control of the economic value chains related to this mineral, in terms of the amendments to the Mining Law.

The administration of LitioMx will be integrated with a board of directors and general management.

The board of directors will be comprised of the heads of: 1) the Ministry of Energy; 2) the Ministry of Finance and Public Credit; 3) the Ministry of Economy; 4) the Ministry of the Interior or Governance and 5) the Ministry of Natural Resources and Environment.

The general management will be appointed by the federal executive at the proposal of the Ministry of Energy.

Pursuant to the transitory articles of the Creation Decree: 1) LitioMx will begin its functions for the fulfillment of its purpose no later than 180 calendar days following the entry into force of the Creation Decree; 2) the LitioMx Board of Directors will be installed no later than 60 days following its publication; and 3) the Ministry of Energy will be in charge of transferring the necessary personnel to LitioMx for the fulfillment of its obligations and the exercise of its attributions, as well as the transfer of human, material, budgetary and financial resources.