Cadence Minerals Notes Start of Arbitration Against Mexico Over Lithium Project Cancellation

06:03 AM EDT, 07/29/2026 (MT Newswires) -- Cadence Minerals (KDNC.L) said Wednesday that an arbitration has formally started over the cancelled Sonora lithium project in Mexico. The International Centre for Settlement of Investment Disputes registered the company's request for an arbitration relating to the cancellation by Mexico of the nine concessions that comprised the Sonora project in August 2023. Cadence and its REM Mexico subsidiary hold a 30% stake in Mexilit and Minera Megalit, which held seven of the nine concessions. The mineral resource developer and its unit are seeking compensation and other relief, claiming that Mexico breached its obligations under the UK-Mexico Bilateral Investment Treaty, including unlawful nationalization or expropriation. The next stage involves the appointment of a three-member tribunal by the parties.