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
More:
- https://www.reuters.com/world/americas/mexican-senate-expeditiously-approves-set-laws-mining-reform-2023-04-29/
- https://www.globalcompliancenews.com/2023/04/27/https-insightplus-bakermckenzie-com-bm-energy-mining-infrastructure_1-mexico-the-new-initiative-another-blow-to-mining_04192023/
- https://www.washingtonpost.com/world/2023/04/29/mexico-mining-reform-concessions-payments-laws/be7e1458-e6c6-11ed-9696-8e874fd710b8_story.html
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