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
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