How psilocybin works and what it does to your brain

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September 26, 2023

artur-kornakov-EUhn2h-FgZc-unsplash (1) — "Psilocybin may be giving these individuals the temporary ‘kick start’ they need to break out of their depressive states," says Dr Robin Carhart-Harris. (Artur Kornakov / Unsplash)

In recent years, psilocybin has gained significant attention worldwide for its potential therapeutic applications and profound effects on the brain. Prestigious universities and research centers have been working for years to unravel the mysteries of psilocybin and its impact on the human mind.

What is psilocybin?

Johns Hopkins Medicine describes psilocybin as a compound found in hallucinogenic mushrooms known to cause profound alterations of consciousness and visual and auditory hallucinations. “The molecular structure of psilocybin, a naturally occurring psychedelic compound found in ‘magic mushrooms,’ allows it to penetrate the central nervous system, and the scientific and medical experts are just beginning to understand its effects on the brain and mind and its potential as therapeutics for mental illnesses,” as reported by the Psychiatry and Behavioral Sciences department at Johns Hopkins.

In 2016, researchers at this institution made significant strides by discovering that psilocybin, combined with psychological support, reduced existential anxiety and depression in individuals with a potentially life-threatening cancer diagnosis. In 2022, a study showed that this treatment can be effective for up to a year for most patients.

Psilocybin and the brain

When ingested, psilocybin converts into psilocin, which interacts with serotonin receptors in the brain. These interactions result in altered brain activity, leading to the characteristic psychedelic experiences. It disrupts the Default Mode Network, enhances connectivity between brain regions, and triggers visual and auditory hallucinations. Psilocybin can evoke strong emotions, promote neuroplasticity, and lead to long-term personality changes. Its effects vary, and caution is advised, mainly when used for therapeutic purposes. Research on psilocybin’s impact on the brain continues, offering potential insights into mental health treatment.

Psilocybin drastically increases connectivity between brain regions which usually act independently. These connections are functional and long-lasting, creating a highly beneficial state of consciousness. (Beckley Foundation).

Learn about one patient’s journey with psilocybin

Ana, whose name has been changed to protect her privacy, embarked on her first psilocybin micro dosing therapy in San Francisco, United States. Intrigued by the potential benefits, including overcoming depression and anxiety and enhancing creativity, she decided to “open her mind” and try the treatment. Ana’s initial intention was to find inner peace and evaluate the effects of psilocybin on her well-being. She shares that her journey with psilocybin micro-dosing was highly personal. Her treatment spanned 90 days, during which she followed a specific dosage regimen. While individual experiences may vary, Ana emphasizes the importance of clear intentions and focus while consuming psilocybin. It is not unusual for some individuals to initially experience heightened emotions, including sadness and despair, before reaching a positive state.

Ana’s motivations for exploring psilocybin micro dosing extended beyond seeking inner peace. In subsequent treatments in Mexico, she aimed to awaken her creativity for a professional project. The results were gratifying, “with heightened concentration and a surge of creative ideas,” she adds during an interview at Parque México in Mexico City. In another instance, Ana utilized psilocybin to address her depression after discontinuing pharmaceutical medications. “The treatment improved my mood, bringing about a sense of enthusiasm and a reduced desire for caffeine and alcohol, which I consumed all day.”

It is essential to note that the effects of psilocybin on the brain are highly variable and influenced by various factors, including dosage, set and setting (mindset and physical environment), and individual differences. Additionally, psilocybin is not without risks, and its use should always be cautiously approached, preferably under the supervision of trained professionals in a controlled therapeutic setting.

As scientific interest in psilocybin grows, researchers continue to study its effects on the brain to understand better its therapeutic potential and possible applications in treating mental health conditions. The study of psilocybin and its impact on the brain offers a fascinating glimpse into the complex workings of human consciousness. It may hold promise for the future of mental health care.

*This article is part of a series about psilocybin and its uses, both traditional and modern. We will also discuss its legal status worldwide and explore the physical and mental health benefits these mushrooms offer.

Disclaimer: This article is for informational purposes only and should not be considered legal or medical advice. Individuals should always consult with qualified professionals regarding using psilocybin or any other substance for medical purposes, considering their jurisdiction’s applicable laws and regulations.

Camila Sánchez Bolaño is a journalist, feminist, bookseller, lecturer, and cultural promoter. She is the Editor in Chief of Newsweek en Español magazine and is the features editor for Mexico News Daily.

Tired of the tourist traps? Try these unique activities in Mexico City

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Bethany Platanella

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September 26, 2023

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Captura de pantalla 2023-09-26 a la(s) 16.48.23 — Iztapalapa Mural: The largest muralism project in the World. (Photo: Cultura Iztapalapa)

Mexico City is brimming with things to do. If you find, however, that you’re on a rotation of the same old, here is a list of activities that do not include visiting the Anthropology Museum one more time. It’s a collection of tried and true experiences that I myself, a full time expat in CDMX, have vetted and believe are worth the investment in both time and money. You’ll come out of these experiences feeling more connected to the city’s pulse and more at home in Mexico.

Explore the natural side of Xochimilco

The chinampas are an example of how humans can coexist harmoniously with nature and also participate in the development and diversification of life. (Photo: Arca Tierra)

I recently participated in ArcaTierra’s Sunrise in the Chinampas tour. It was my first time in Xochimilco and certainly not my last. Upon arrival, each guest — there were 70 of us! — was offered a café de olla for the misty boat ride along the floating gardens. We first stopped at an expansive field to watch the sun rise against the mountains. Afterward, we were taken to Chinampa del Sol for a tour of its thriving organic farm and a beautiful farm-to-table brunch that can be adapted for both vegetarians and vegans. It’s a special and peaceful way to experience this incredible UNESCO World Heritage site if you’re looking for something other than the usual boozy afternoon “trajinera” ride. Three things you can do to make this experience even more magical and authentic:

Take the tour in winter, when the skies are clear and sunrises are striking. Bundle up, it will be cold.
Book a private experience. An activity like this deserves a more intimate crowd.
Bring cash. I left the farm with a box full of fresh produce grown on the chinampa and plans to sign up for ArcaTierra’s CSA program. My giant box of apples, lettuce, cabbage, peppers, carrots and more cost me 250 pesos.

Immerse yourself in Mexico’s extraordinary food culture and learn to cook Mexican traditional dishes. (Maarten Van Den / Unsplash)

Create traditional Mexican dishes at a local cooking class

The cooking class I took with Aura Cocina Mexicana goes down as not only one of my favorite experiences in Mexico City itself, but one of the most thorough cooking classes I’ve taken anywhere. I chose the Authentic Mexican Cooking class, which included a tour of a local market, a tasting of street food and a visit to a tortilleria to witness the production process of my most beloved Mexican delicacy from scratch. In the school’s delightful kitchen, we helped create a fantastic and colorful four-course meal of tamales, sopes, mole and dessert which was enjoyed with a side of mezcal. It’s family-run, giving the experience a cozy feel that you might not find elsewhere in CDMX, and caters seamlessly to vegetarian and vegan clients.

If you’re like me and you’re after something fancier, the fabulous women behind Ajolote Travel have partnered with the chef at Grana Sabores De Origen to curate personalized culinary experiences. I was fortunate enough to attend an intimate chiles en nogada event in the exquisite, hidden restaurant situated just steps from the Cloister of Sor Juana in the Historic Center. Inside the 16th-century space is an open kitchen where up to 12 participants can comfortably sit, chop and chat. The Ajolote Travel team made sure the mezcal was flowing and the conversation lively, and by the time I left it felt like I had just spent a perfectly immersive afternoon with 11 close friends. With, of course, the added benefit of new cooking skills and even more reason to love my life in Mexico.

Take a tour of a neighborhood you wouldn’t normally visit

Mexico City's cable car system, Cablebus. — The Cablebús cable car transport system has been in operation since July 2021. It currently has two routes. It’s first line saw 78% more ridership than expected. (Photo: Victoria Valtierra Ruvalcaba/Cuartoscuro)

While some may think twice about the idea of a tour in Iztapalapa, the last years in this neighborhood have seen a change for the better. Now home to the longest cable car in Latin America and more street murals than any other city in the world, pulsating Iztapalapa is Mexico City’s largest borough by population.

Fernando Acosta, owner of Warrior Experiences, started leading small group tours of Iztapalapa in 2022 and says his clients are surprised by the area’s strong identity, vibrancy and artistic style. “A lot of very interesting things (are happening) that are worth seeing, especially if you want to see more of Mexico’s capital.” The tour includes a Cablebús ride, a taco tasting in a local market and a visit to a brightly painted airplane turned public library, all of which culminates in a pulque tasting back at your starting point, the Historic Center. It’s a great way to see a side of Mexico City you might never know otherwise.

Invest in a thoughtful mezcal tasting

Mexico City is a mezcal-lovers paradise, with everything from dive bars to posh speakeasies dining. (Roger Ce / Unsplash)

There are endless mezcal-tasting opportunities in and around this thriving metropolis. Still, I have yet to enjoy one as thorough and memorable as the one recommended to me by Ajolote Travel’s Cristina King. The tasting takes place in Salon Rosario, a sexy speakeasy-style private bar specializing in Mexican spirits, whiskey, and gin, on Calle Puebla in Roma Norte. One of the charismatic and knowledgeable bartenders will lead a sampling of six mezcals paired with sweet and salty snacks that pull out each bottle’s subtle flavors. Seeing as six shots of mezcal is nothing to shake a stick at; I’d advise participants to supplement their tasting with a la carte dishes or fill up before arrival. If your style is more hands-on, the bar also offers mixology experiences.

Embrace your inner Frida Khalo at an art class

Learn your preferred technique from scratch – oil, acrylic, gouache, watercolor, encaustic, tempera, and mixed media techniques. (Unsplash)

Because I can’t seem to shy away from hobbies that contribute exactly zero to my savings account, I signed up almost immediately for art classes upon relocation to Mexico. They’re affordable, fun and meditative. If boosting your Spanish and artistic skills is important to you, I recommend Estudio Roma, where you can take recurring painting classes or sporadic sketch classes, often accompanied by wine. If you want something really artsy, head to Taller de Escultura Victor Gutiérrez, a studio in the Historic Center that offers weekly figure drawing classes amongst original sculptures created by the artist himself.

If all that feels too serious, check out Pintar y Mezcal, a fun and light-hearted painting and sipping experience hosted by lye Yin Dae, a multidisciplinary artist from Philadelphia. I attended an event in June with a few friends and left with my own Virgin Mary masterpiece that is now hanging on my bedroom wall. The attendees were an eclectic mix of locals, expats and visitors, and we had free reign to paint to our hearts’ content in a relaxed atmosphere with good music and plenty of mezcal.

Bethany Platanella is a travel planner and lifestyle writer based in Mexico City. She lives for the dopamine hit that comes directly after booking a plane ticket, exploring local markets, practicing yoga and munching on fresh tortillas. Sign up to receive her Sunday Love Letters to your inbox, peruse her blog, or follow her on Instagram.

Archaeologists uncover ancient grave in Palenque

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MND Staff

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September 26, 2023

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Palenque tomb — The tomb was uncovered during construction work for a new hotel forming part of the Maya Train project. (INAH/Cuartoscuro)

Archaeologists working alongside the construction of the Maya Train Hotel near the ancient city of Palenque have come upon the hotel’s “first, ancestral guest” — according to a playful description in a release from the National Institute of Anthropology and History (INAH).

What they uncovered were the skeletal remains of a human body with lavish adornments in a grave that could be over 1,000 years old, INAH said on Monday. The discovery was made on Sept. 11 during archaeological work being carried out in tandem with the multibillion-dollar Maya Train project in southern Mexico.

Palenque Palace — Palenque, in Chiapas, was one of the most important cities of the ancient Maya world. (Ricraider/Wikimedia)

The train’s route of 1,554 kilometers (965 miles) through the states of Tabasco, Chiapas, Campeche, Yucatán and Quintana Roo will include six new hotels, including the one where the discovery was made in Palenque, Chiapas.

It is located just 2 kilometers from the center of one of the ancient Maya civilization’s largest and most sophisticated metropolises, Palenque, home to towering temples and a sprawling palace compound. Also known by the Maya as Lakamha’, the city-state thrived from around 300 to 900 A.D.

INAH officials said the human remains, found in a large stone box sealed with limestone slabs, were of a person of importance who lived outside of the ancient city’s center. Alongside the bones was a funerary collection comprising three ceramic vessels, a pair of Maya ear flares and two greenstone beads.

The individual was buried face up with his head facing north, INAH director Diego Prieto Hernández reported, noting that further tests will attempt to determine when the individual died and other characteristics. The tomb was reported to be 4 meters (13 feet) beneath the top of a Maya structure.

The individual was buried with lavish adornments, say archaeologists. (INAH)

Prieto Hernández revealed the findings during President López Obrador’s Monday morning press conference. He also said archaeologists and conservationists are finalizing their actions in the area.

The discovery was made along Section 1 of the Maya Train, which as of Monday has registered the following findings: 2,698 structures, 248 pieces of furniture, 284,900 ceramic pieces, 177 human burials and 55 natural features associated with the presence of pre-Columbian Maya groups.

The Maya Train is scheduled for a preliminary inauguration in December., although the federal government reportedly will invest 120 billion pesos (US $6.9 billion) more to complete the project and its complementary works in 2024. This brings the estimated total cost of the project to 480 billion pesos (US $27.7 billion).

With reports from Infobae, Reuters, INAH and Dinero en Imagen

Marcelo Ebrard goes to federal court with complaint against Morena

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MND Staff

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September 26, 2023

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947854_Ebrard El Camino de México-13_impreso cortesía marcelo ebrard cuartoscuro — Marcelo Ebrard is continuing his challenge against the Morena candidate selection process, taking his case to the federal electoral tribunal. (Cuartoscuro)

Former foreign affairs minister Marcelo Ebrard has asked the Federal Electoral Tribunal (TEPJF) to intervene in his case against the presidential candidate selection process conducted by the ruling Morena party.

Ebrard, who was one of six aspirants to Morena’s nomination for the 2024 presidential election, argues that the selection process that ended with the announcement that former Mexico City mayor Claudia Sheinbaum would represent the ruling party was tainted by a range of irregularities.

Marcelo Ebrard at the event announced his political movement launch last week. (Marcelo Ebrard/X)

He formalized his complaint on Sept. 10, sending a 41-page document to Morena’s National Commission for Honesty and Justice in which he called for the nullification of poll results that showed that Sheinbaum had the most support among the six aspirants. Ebrard called for the polling process to be redone.

The ex-foreign minister turned to the TEPJF because Morena hasn’t responded to his complaint. A previous TEPJF ruling obliges political parties to respond to complaints from their members within five business days, but Morena decided it would follow its own party rules which give it 30 days to do so.

In documentation submitted to the Federal Electoral Tribunal on Monday, Ebrard claimed that his “political-electoral rights” are being violated as a result of Morena’s failure to respond to his complaint in a timely fashion.

He asked the TEPJF to order Morena’s National Commission for Honesty and Justice to “admit the request for nullity and subsequent repeat of the internal Morena process for the election” of its 2024 presidential candidate.

Claudia Sheinbaum with other Morena aspirants (except for Ebrard) following her victory in the internal polling. (Mario Delgado/

Among the alleged irregularities Ebrard says occurred in Morena’s candidate selection process were preferential treatment of Sheinbaum by Morena’s Polling Commission, the federal Ministry of Welfare and government and party officials; the placing of undue pressure on citizens; effective vote-buying; violence and intimidation on the part of pro-Sheinbaum groups; the disappearance of ballot boxes and generally lax oversight of the polling process; and the provision of information about polling locations to Sheinbaum’s team.

The ex-foreign minister remains affiliated with Morena despite launching his own political movement last week. He said last Friday that he would continue to seek the presidency and rejected the suggestion that his filing of a complaint against the selection process was part of a “tantrum” he was having after finishing as runner-up to Sheinbaum.

“We observed through the process signs and symptoms of … political practices and a political design that operated in the PRI,” he told supporters at an event in Tlaxcala.

The Institutional Revolutionary Party, or PRI, was notorious for its use of undemocratic practices during its 71 years of uninterrupted rule in the 20th century.

Marcelo Ebrard with President López Obrador and Claudia Sheinbaum — Marcelo Ebrard (right), seen here with Claudia Sheinbaum and President López Obrador earlier this year, has said he has been the president’s “most loyal collaborator.” (Gob MX)

“We’re not going to allow practices from 30 years ago to be carried out,” Ebrard said.

He said he wants to become president “not out of ambition … [but] because we have a program … [and a] cause.”

It is unclear whether Ebrard has a “Plan B” if, as expected, his quest to have the Morena selection process redone isn’t successful. He has ruled out standing as an independent candidate, saying earlier this month that he believed that wasn’t “the way to contribute to the future of Mexico we crave.”

With reports from El Financiero, Milenio, Reforma and La Jornada

US Treasury sanctions more Sinaloa Cartel affiliates

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Cat Rainsford

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September 26, 2023

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chapos_1 periodico noroeste — Six of the sanctioned individuals are shown here in a U.S. Drug Enforcement Agency (DEA) graphic. They are wanted for trafficking fentanyl into the U.S., among other charges. (DEA)

The United States Treasury’s Office of Foreign Assets Control (OFAC) announced new sanctions against nine affiliates of the Sinaloa Cartel on Tuesday, accusing them of participating in large-scale fentanyl trafficking to the United States.

The nine men are all part of the “Los Chapitos” faction of the Sinaloa Cartel, operated by the sons of infamous jailed cartel boss Joaquín “El Chapo” Guzmán. Seven were indicted by a New York district court in April, for crimes including fentanyl trafficking, weapons trafficking, and money laundering.

Those targeted by the U.S. Treasury all work for the “Los Chapitos” wing of the Sinaloa Cartel, operated by the sons of Joaquín “El Chapo” Guzmán, three of them seen here. Ovidio Guzmán (far right) was extradited to the United States on Sept. 18. (Archive)

Those charged include:

Jorge Humberto Figueroa Benitez, a leader of the Chapitos’ security apparatus who commands a violent group of assassins.
Brothers Leobardo García Corrales and Martín García Corrales, who operate fentanyl labs in the state of Oaxaca, using the proceeds to buy weapons.
Liborio Nuñez Aguirre, Samuel León Alvarado and Carlos Mario Limón Vázquez, who operate a network of fentanyl labs across Mexico, trafficking the drug into the U.S.
Mario Alberto Jiménez Castro, who operates a money laundering network that transfers proceeds from U.S. fentanyl sales to Sinaloa Cartel leaders in Mexico.

Semar drug bust — Mexico has been increasing its seizures of fentanyl and other illicit drugs. (Semar/Cuartoscuro)

The two other individuals designated by the OFAC are Julio César Domínguez Hernández and Jesús Miguel Vibanco García, described as associates of Jiménez Castro. The sanctions allow the Treasury to freeze the targets’ U.S. assets, and prohibit any U.S. citizen from doing business with them.

“Today’s actions show that Treasury and the Administration will continue to relentlessly target the criminal enterprises threatening international security and flooding our communities with fentanyl and other deadly drugs,” said Brian E. Nelson, Undersecretary of the Treasury for Terrorism and Financial Intelligence.

He stressed that the sanctions were part of a “whole-of-government effort to address the opioid public health crisis plaguing the United States.”

Mexico is coming under increasing U.S. pressure to combat fentanyl, which Mexican cartels manufacture using Chinese precursor chemicals and then smuggle over the border.

President López Obrador has sought to downplay Mexican involvement in the manufacturing of fentanyl, but has also emphasized his administration’s efforts to intercept the drug. Foreign Minister Alicia Bárcena said last week that Mexico accounted for a quarter of global seizures of fentanyl since 2020.

With reports from El Universal

AMLO to present President Biden with a regional migration plan

By

Cat Rainsford

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September 26, 2023

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Migrants in Chiapas — President López Obrador has said the migration crisis is one of his top priorities to discuss in an upcoming meeting with U.S. President Joe Biden in November. (Dámian Sánchez/Cuartoscuro)

President López Obrador plans to present U.S. President Joe Biden with a regional plan to address the migration crisis, based on discussions with the 10 Latin American countries that generate the greatest numbers of migrants.

Oaxaca Governor Salomón Jara announced the decision after a meeting at the National Palace between AMLO and other politicians from southern Mexico. Attendees included the governors of Chiapas, Tabasco and Campeche, Interior Minister Luisa María Alcalde and Foreign Minister Alicia Bárcena.

Oaxaca Governor Salomón Jara said the itinerary for the meetings would be finalized in the next few weeks. (Salomón Jara/X)

“It was agreed that there would be a meeting with the foreign ministers of the 10 countries where there is a greater flow of migrants, such as Guatemala, Honduras, Venezuela, Cuba… to present to President Biden a proposal that the Foreign Ministry is working on,” Jara told reporters.

Jara said that the meetings would take place over the next two weeks, in order to finalize the proposal before AMLO’s next bilateral meeting with President Biden. AMLO announced last week that he would not attend the Asia-Pacific Economic Cooperation (APEC) summit in San Francisco in November, proposing instead that Biden visit Mexico to tour infrastructure projects, including the Maya Train. He said that if Biden does not make the trip to Mexico, he will travel to Washington, but no official visits have been confirmed.

While the details of the proposal have not been announced, it is likely to include seeking more U.S. support to address the poverty and violence that drive migration in the region.

“The United States has to allocate resources to these places where we have most migrant flows,” Jara said.

Many migrants begin their journeys in South America, crossing the infamous Darién Gap between Colombia and Panama in search of passage towards the United States. (Pedro Anza/Cuartoscuro)

In his Monday morning press conference, AMLO also called for greater action by the United Nations to combat the poverty, inequality and political insecurity that have increased in the wake of the COVID-19 pandemic.

“Let’s reactivate the economy in all countries so that people don’t need to emigrate, and also that political problems are resolved,” he said. “[These problems] often stem from the desire for regional dominance, the desire for hegemony. The U.N. should address that.”

The president recalled the November 2021 visit to the U.N. where he addressed the Security Council with a proposal that the world’s richest corporations, individuals and economies address global poverty by making voluntary donations to a fund to benefit the poor. “I made a proposal when I went … They did not take it under consideration. Because the U.N. is stiff, dusty, in need of a shake-up.”

AMLO indicated that he would use his next meeting to address themes he discussed with Biden during bilateral talks in January, when he urged Biden to champion “a new policy of economic and social integration on our continent,” like the Alliance for Progress development plan of the 1960s.

AMLO mañanera — AMLO used his morning press briefing to outline the need to promote economic recovery from the COVID-19 pandemic, and reduce migration through financial stimuli. (lopezobrador.org.mx)

“The economic and trade agreement in North America is going very well, but we need to support Central America, to support many countries in the Caribbean, in South America, to consolidate America,” AMLO said on Monday. “That can be done, [but] there has not been a plan to support countries in Latin America and the Caribbean since the time of President Kennedy.”

The Alliance for Progress, a major aid initiative in the U.S.’s Cold War Latin America poverty, was initiated by Kennedy in 1961 to keep the region in the U.S.’s orbit by promoting economic growth and political stability. By the early 1970s, the Alliance was widely considered to have failed.

With reports from Swiss Info, Latinus, El Heraldo de México and La Jornada

Mexico cancels lithium mining concessions held by Chinese firm

By

Cat Rainsford

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September 26, 2023

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The Mexican government has reportedly canceled nine mining concessions held by Chinese company Ganfeng Lithium at the largest lithium reserve in the country.

In a document sent to investors, Ganfeng – which is one of the world’s largest lithium enterprises – said that Mexico’s General Directorate of Mines (DGM) told them in August that the company had failed to meet minimum investment requirements between 2017 and 2021.

Renewable energy batteries — Lithium is used to make rechargeable batteries. Mexico is attempting to capitalize on demand for the mineral, although some experts have cast doubt on the country’s ability to successfully exploit it. (Ganfeng Lithium)

Ganfeng insists their Mexican subsidiaries have presented “ample evidence of their compliance with the minimum investment obligations,” and had in fact “significantly” exceeded them.

The company also claimed the Mexican government “did not raise any objections” about investment levels before informing them that the process to cancel the concessions was already underway.

Mexico nationalized lithium in April 2022, declaring it a strategic resource whose exploration, production and commercialization was exclusive to the state. The resulting amendments to the Mining Law meant no new lithium concessions would be granted to private companies, other than as minority partners in joint ventures with new state-owned company Lithium for Mexico (LitioMx), although existing contracts would be honored if they met investment requirements and were nearing the production stage.

“The Mining Law reform was not supposed to apply to pre-existing concessions,” Ganfeng protested. “The company’s position is that the project’s concessions cannot be impacted by these reforms.”

AMLO nationalizes lithium — The president celebrated the nationalization of lithium reserves in Sonora in February. (Cuartoscuro)

The company said that it had filed administrative appeals with the Economy Ministry (SE), maintaining that the cancellations are “arbitrary and unfounded.” It also insisted that the decision should not be considered final until the review is concluded. Neither the DGM nor the SE has made a public statement on the issue.

Ganfeng has been the biggest private lithium mining company in Mexico since acquiring the country’s largest reserve – in Bacadehuáchi, Sonora – from Bacanora Lithium in 2021. The U.S. Geological Survey estimates that Mexico has a total of 1.7 million tonnes of lithium reserves, some 3% of the global total. There are two large reserves in Sonora (including the Bacadechuáchi deposit), one in Puebla and one in Jalisco. The metal is a key component of lithium-ion batteries used in electronic devices and for green energy storage.

Mexico’s nationalization of lithium seeks to take advantage of the global shift to green energy, and in the words of President López Obrador, to avoid the “exploitation” of the mineral by foreign companies. However, some mining experts have expressed doubts about the public company’s capacity to mine the metal effectively. Mexico’s lithium deposits are in clays, making them difficult to process.

This month, Congress requested that Lithium for Mexico receive its first budget in 2024, after a year and a half without formal funding. The budget allocates 9.8 million pesos (US $570,000) to staff salaries, but does not confirm spending on exploration.

Earlier this year, the Mexican government announced that it would invest 36.8 million pesos (US $2.15 million) in lithium exploration before the end of 2024.

With reports from La Jornada, Expansión and Forbes

Peso again loses ground to the US dollar

By

MND Staff

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September 26, 2023

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Wallet with Mexican pesos — The peso depreciated to 17.47 to the U.S. dollar on Tuesday morning. (Shutterstock)

The Mexican peso is on the wane again after recovering from a dip earlier in the month.

One US dollar was trading at 17.47 pesos at 11 a.m. Mexico City time, according to data from Bloomberg. The greenback reached a high of 17.56 pesos in overnight trading.

The peso has lost about 40 centavos against the dollar over the past week after closing at 17.08 to the greenback last Tuesday. The dollar traded at a three-month high of 17.6 pesos in early September, but Mexico’s currency subsequently rallied.

A range of factors have contributed to the peso’s most recent dip, including a general strengthening of the dollar and decreased appetite for risk.

The U.S. dollar index, which measures the value of the greenback relative to a basket of six other currencies, reached its highest level of the year on Tuesday morning.

Some analysts say that the weakening of the peso on Monday and Tuesday is partially due to Minneapolis Federal Reserve Bank President Neel Kashkari’s statement that the Fed probably needs to raise interest rates above the current 5.25-5.5% level to bring inflation down to 2% in the United States.

US Federal Reserve building — The U.S. Federal Reserve may increase rates to curb inflation at the next meeting in late October. (Shutterstock)

“If the [U.S.] economy is fundamentally much stronger than we realized, on the margin, that would tell me rates probably have to go a little bit higher, and then be held higher for longer to cool things off,” Kashkari said at an event on Monday.

The Mexican financial group Ve por Más said in a note that it was “probable” that the appetite for risk assets, such as the Mexican peso, would be “limited” due to “the restrictive tone” of “some members of the Fed” as well as “the risk of a United States government shutdown.”

The Fed’s next monetary policy decision is due in late October, while board members of Mexico’s central bank will meet this Thursday to discuss monetary policy.

The significant difference between the Bank of Mexico’s benchmark rate – currently set at a record high of 11.25% – and that of the Fed is cited as one factor that has boosted the peso in 2023 after the year started with a USD:MXN exchange rate of about 19.5.

AMLO at a press conference — At a press conference earlier this month, the president highlighted the peso’s strong performance against the U.S. dollar this year. (Gob MX)

Another factor that has recently affected appetite for risk assets is the real estate crisis in China.

Gabriela Siller, director of economic analysis at Banco Base, said on X (formerly Twitter) that the expectation that interest rates will remain high in the U.S. for a “prolonged period” as well as “aversion to risk” due to the situation in China were both weighing on the peso.

In the same post, she also said that the auto sector strike in the U.S. is “beginning to generate concern.”

The financial news website Finbold reported that rising U.S. Treasury bond yields is also a factor in the recent strengthening of the US dollar against the peso. Finbold noted that if Mexico’s inflation rate continues to decelerate – the headline rate fell to 4.44% in the first half of September – the Bank of Mexico “may have to adjust the monetary policy, which could potentially weigh on” the peso.

However, a cut to the 11.25% rate before the central bank’s December monetary policy meeting is considered unlikely. The bank itself has said on repeated occasions that maintaining the record high rate for an “extended period” is necessary in order to bring inflation down to its 3% target.

While the peso is currently well off its 2023 – and almost eight-year – high of 16.62 to the dollar – the performance of the currency this year remains impressive.

Buoyed by strong inflows of foreign investment and remittances, the peso has appreciated over 10% against the greenback since Jan. 1, making it one of the best performing currencies of 2023.

With reports from El Economista, Expansión, Bloomberg Línea and Finbold

Did you know Adele is a fan of Dr. Simi?

By

MND Staff

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September 25, 2023

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Adele Simi — Fans have been gifting the "Skyfall" singer with Dr. Simi dolls modelling her most iconic outfits. (Revista Brújula/X)

British pop megastar Adele has been invited to visit the Dr. Simi doll factory, after taking time out from her Las Vegas residency at Caesar’s Palace to praise the Mexican pharmaceutical mascot, which she described as “incredible” and a “Mexican show of love.”

“For anybody that doesn’t know what these are, they’re called Simi dolls,” the singer explained, holding up a doll gifted to her by a fan. “I’ve received so many of them during these shows,” she continued, calling them her “absolute favorite.

ADele Lele — Adele has also been receiving traditional Mexican “Lele” dolls. (Screen Capture)

The “Someone Like You” and “Rolling in the Deep” singer has recently encouraged fans to throw Dr. Simi and traditional Mexican “Lele” dolls on stage during her live shows and shared an image of her backstage collection of Dr. Simis dressed in a variety of famous Adele outfits.

Dr. Simi himself then appeared in a video to invite the British singer to Mexico. “Adele, thank you very, very much for showing your love for me,” he said, before offering her the chance to tour the CINIA factory in Puebla, where the dolls are manufactured.

CINIA predominantly employs Mexicans with disabilities that would otherwise make it difficult to find work.

This is not the first time that Dr. Simi has gone viral – in 2022, photos emerged of a neighborhood in Ecatepec, México state, which painted the smiling face of the mascot onto town roofs, to create a giant beaming image smiling down onto the nearby freeway.

Simi Ecatepec — Dr. Simi’s smile can also be seen beaming up from a neighborhood in Ecatepec, México state. (Israel Guera/X)

In recent years, throwing Dr. Simi dolls during live music events has become a tradition in its own right, with Mexican fans pelting Coldplay, Maroon 5, The Strokes, The Killers, Gorillaz, and even hitting Lady Gaga in the face during a concert in Toronto.

With reports from Mitú and Elle

AMLO says research on drug cartel employment in Mexico is ‘false’

By

MND Staff

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September 25, 2023

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President López Obrador at the morning press conference — The president says he can prove the research is wrong, asserting that public works projects are employing more people than gangs. (Moisés Pablo/Cuartoscuro)

President López Obrador on Monday rejected a study that found that cartels are the fifth largest employer in Mexico, but didn’t provide any conclusive evidence to support his rebuttal.

He was referring to a research article published in the journal Science in which three researchers estimated that cartels employ some 175,000 people in Mexico.

Chart from research article in Science — The researchers used mathematical modeling to estimate cartel employment. (Prieto Curiel, Campadelli, and Hope/Science)

Based on their estimate – which was derived from a complex mathematical model that took things such as cartel recruitment, homicides and incapacitation of members due to imprisonment into account – the researchers said that cartels were the fifth largest employer in Mexico behind Femsa, a beverage and retail company and Coca-Cola bottler, Walmart, staffing firm Manpower and telecommunications corporation América Móvil.

At his Monday morning press conference, López Obrador claimed that the article was the work of government adversaries.

“An article from the right, from the conservatives, came out, saying that jobs in Mexico come from drug trafficking,” he said.

López Obrador said that the finding that organized crime groups including the Jalisco New Generation Cartel and the Sinaloa Cartel are Mexico’s fifth largest employer is patently “false.”

Maya Train workers — The president said that construction of major infrastructure projects in the country is employing more people than the drug cartels. (Cuartoscuro)

“I can prove it. The construction industry is providing the most jobs and it has to do with public investment,” said the president, whose government is building several new infrastructure projects including the Maya Train railroad and the Tulum airport.

López Obrador didn’t name any construction company that is employing more than 175,000 people, but emphasized that Mota-Engil, a Portuguese corporation that is building one section of the Maya Train railroad, employs 50,000 workers in Mexico.

That figure came from Mota-Engil’s Latin America chief João Pedro Parreira, who was present at the president’s press conference.

López Obrador said that public investment has helped Mexico significantly in terms of job creation and economic growth, especially in the country’s south and southeast where several projects are under construction.

Cartel members — The research published in Science last week indicated that drug cartels, such as the Jalisco New Generation Cartel (CJNG) employ more people in Mexico than Pemex or Oxxo. (Cuartoscuro)

“And I want to say to those who live in the north [of the country], to those who live in the center, that it doesn’t mean that there is no growth in the north and center,” he said.

“Now we’re seeking balance and for growth to be horizontal, even,” López Obrador said.

Mexico’s main opposition party used the finding that cartels are the nation’s fifth biggest employer to support its claim that the current government has been a failure.

“That drug trafficking occupies the position of fifth largest employer in Mexico is another [example] of the major disasters … of the six-year term of Andrés Manuel López Obrador and his party Morena,” said National Action Party national president Marko Cortés.

Mexico News Daily