Mexico Mining: Goverment proposed strict mining regulations & Shorter concessions

Mining industry experts have already warned against the Mexican govt’s proposed changes to the country’s mining regulations. Which include shorter concessions and stricter permit requirements.

The period of mining concessions would be drastically cut from 50 years to 15 years under the proposed legislation that President Andres Manuel López Obrador presented to members of Congress’ lower house on Tuesday.

Strict Re-oriented Mining Laws

opez Obrador has declined to give any new mining licenses since taking office in late 2018. Claiming that too many had already been granted by prior govt’s.

Grupo Mexico, a major copper producer, increased by 0.73 percent, marking its 3rd straight day of profits.

Camimex said in a statement that it anticipates “a broad, inclusive & informed parliamentary discussion.” And hoped that industry concerns would be taken into consideration during the impending debate over the idea.