Latin America’s Largest Salt Mine Changes Hands

 Latin America’s Largest Salt Mine Changes Hands

Guess what’s shaking in the world of salt? President Andres Manuel López Obrador, often just called AMLO, has just made a pretty salty deal, splashing out close to a cool US $90 million! He’s snagged 49% of the shares in the salt mines located in Guerrero Negro, which, if you didn’t know, are the biggest of their kind in Latin America. Why, you ask? Well, AMLO’s got this vision of bringing it all under the Mexican flag, aiming for full nationalization.

Before this power move, Mexico already had a majority stake with 51%, but it seems like having control wasn’t enough. AMLO wanted the whole enchilada. And it’s not just any mine we’re talking about here. This salt giant churns out over 8 million metric tons of the white stuff annually. Yep, you heard right. It’s not just impressive; it’s essential, covering a whopping 84% of Mexico’s salt needs.

So, what’s the big deal with owning more of the mines? It’s all about self-sufficiency, baby. By holding a larger share, Mexico aims to ensure that it keeps its salt supply steady and secure, without having to rely too much on outside players. It’s a strategic move, one that’s got everyone talking about the future of Mexico’s salt game.