The provincial authority issued a statement after learning that the reopening of the mine will create 3,600 jobs.
Latin America Mining News
"It was established that Mexico's oil and natural resources belong to our nation," López Obrador said.
More than 80 unionized workers of the Plantas de Andina union went on strike a week ago.
Expansion and upgrades would extend the mine’s life by 21 years.
The $280-million deal gives POSCO a package of mining tenements for 17,500 hectares of land in the northern area of the Salar del Hombre Muerto salt flat in Argentina.
Fabio Schvartsman said the company would ramp up annual production to 450 million tonnes only when prices rise.
But the world's second largest producer said they will remain higher than the average reached last year.
Brazilian steelmaker Usiminas has hired Banco BTG Pactual SA to sell its 70 percent stake in its mining company.
Chile is preparing major new restrictions on the extraction of water from the lithium-rich Salar de Atacama salt flats, home to top lithium miners Albemarle and SQM.
Bullion production grew for nine consecutive years to reach an all-time high in 2017.
The provincial Secretary of Mines said that eight people have died in similar conditions this year.
Help from Latin America and Southeast Asia.
There is little likelihood that Brazil's Samarco iron ore mine, a joint venture between Vale SA and BHP Billiton, will restart operations next year even though it expects to have all of the required licenses.
Chile's gross domestic product grew 5.3 percent in the second-quarter of 2018 which is its biggest jump in nearly six years.
Ivan Arriagada, chief executive of Antofagasta, said he expected copper prices to be affected by global uncertainty.
Playbook follows success in the iodine market
Main mine union accepted an adjusted contractual offer, which marks the end of the negotiation process and removes the threat of a strike.
HEPS for continuing operations remained unchanged at $0.08 per share for the six months ended June 30, 2018 compared with the same period last year.
After a near 5% drop on Wednesday, news that a strike had been averted at the world's largest copper mine put a cap on hopes of a recovery for the bellwether metal.
Some of the latest battery technologies may become obsolete before reaching the market because of the breakneck pace of advances in the industry.
If company and union leaders reach a consensus, the mediation would be further extended for several days so the 2,459 workers can vote to accept or reject the new offer.
Chilean copper producer Antofagasta said first-half core earnings fell 16.2 percent from a year earlier.
The project is made up of five contiguous exploration permits and has a historic gold production of around 40,000 ounces of gold, mined between 1985 and 1996.
The $87.5-million deal is the latest Chinese acquisition of a lithium project in South America, following Tianqi Lithium’s decision to buy 24% of SQM for $4.1 billion, which has not yet been approved by Chile’s antitrust regulator.
While lithium and potash are often found in the same deposits and mined together, the increasing number of projects aimed at producing the white metal shouldn’t have an impact in the potash market.