Loading ...World’s Top Silver Producing Country (MEXICO) Passes Harsh Anti-Mining Rules
The Mexican Senate passes new mining law overnight on Saturday, without the opposition present:
- Duration of mining concessions reduced from 50 to 30 years
- State-owned companies would enjoy priority over the private mining industry
- Mining Companies REQUIRED TO PAY 5% of PROFITS to Local Communities
- Water-use concessions more difficult to obtain & maintain
- Large Increase in the Causes for Government to Cancel Concessions
- Mining Exploitation LIMITED TO MINERALS SPECIFIED in Concession Title
https://silverseek.com/article/worlds-top-silver-producing-country-passes-harsh-anti-mining-rules
Can you say Bullish for silver. Not for any companies doing business in Mexico. I gave up on MAG a while back without even knowing anything about this move.
Chile. Now Mexico. Jurisdiction risks increasing.
Add WOKE countries to that list.
Absolutely, which is why I have only been interested in US/Canadian companies and mines. Even they could be nationalized at some point but paid out in US or Canadian fiat. That might not be so good either?