Loading ...Shares in Mexican miners and companies with operations in the country were severely hit this week, as leftist President-elect Andres Manuel Lopez Obrador is expected to approve proposed legislation that could restrict mining activity in the country.
Early this week, parliament members belonging to the National Regeneration Movement (MORENA) party tabled bills to include environmental and indigenous community protections in the proposed revision of Mexico’s mining code.
MORENA and its allies hold majorities in both houses of Congress.
The new set of suggested rules already included tax hikes, but this week’s events increased investors’ worries over the future of existing operations, especially if conditions were breached.
cont. http://www.mining.com/mexican-miners-already-hit-proposed-changes-code/