Tuesday, June 6, 2023

What does the new mining law mean in Mexico?

In the absence of an executive branch publishing the amendments in the Official Gazette of the Federation, the new mining law in Mexico is a reality. A proposal that, according to the state, aims to limit and regulate the granting of concessions for mineral exploitation besides forcing companies to go through a consultation process with the cities where they want to set up their activities.

“Loss Trust”

However, this law concerns the current mining union: “so A mining law we are dealing with. However, to our surprise, there was no consultation with those of us who mine and make a living from mining, and this has led to conditions that are not entirely liked by the entire Mexican mining sector. Can go,” he said. Raul García Rembert, president of the College of Mining Engineers, Metallurgists and Geologists of Mexico, explains.

“It damages, first of all, the confidence that the investor and the miner must have. Small miners, medium miners must have the confidence and certainty that they will be able to mine mineral deposits without the Mexican state making decisions on many aspects , including whether this is a project that may or may not be geologically feasible. The Mexican state cannot be the arbiter of geology. And whether or not the mining industry will develop for the communities where we live. “, speculates García Rembert.

“I speak on behalf of the responsible mining industry. For some people who do not do responsible mining, we pay a lot. About 85, 90% of mining is responsible mining,” he insisted.

Foreign investment

The new reform, which involves reducing the concessions to 15 years, worries foreign investors. Mainly for Canada, which represents the largest investment in the mining sector outside the country:In Mexico Near nearby Of And 45% Of Las Investment In mining that Son Of Origen canadian why They will invoke Some failures What can haber In Lei. Yo No I think What al Day Of barge Sure Of haber race Of companies Foreigner, In A They Self it suits. Besides, None Lei so retrospective, Therefore majority of Of Las Minas Now Are working, why next Investigation, Of Desire Thief And Regulation Nuevo, Of As it is Lei Yes. Sin And Regulation Appropriate, can do Happen Harmful In Las Investment Foreign”, explains García Rembert.

The project approved by deputation changes the name of the Mining Law to the Mining Law, sets aside exploration activities reserved for the state, grants concessions to mine reserves by presidential decree, among other changes.

Nation World News Desk
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