Underground Shaft at the Guanajuato mine. Photo Credit: Great Panther Silver

The mining financial environment was heated up this week and not for good. Morena’s announcement of new mining policy proposals, including community consultation for allocating mining concessions, caused mining companies to take a hit on the BMV. In the meantime, a South African community celebrated its legal victory in implementing a similar communitarian consultation before granting concessions. Also, the Chilean Ministry of Mines signed an agreement to foster mining activity in the Tarapaca region, while Minera Alamos got a step closer to developing La Fortuna gold project in Mexico.

 

The World Bank Group is a unique global partnership, with five institutions working for sustainable solutions that reduce poverty and build shared prosperity in developing countries. It has 189 member-countries, staff from more than 170 countries and offices in over 130 locations. Mexico Mining Review spoke to Former Practice Manager, Extractive Industries Unit, Paulo de Sa about how the mining royalty process in Mexico can be improved.

Curious about the week in mining? Dig in!

Morena and Mining Policy:

Driving the Mining Industry Up:

  • The Ministry of Economy reported growth in mining FDI. The first three quarters of the year received US$894 million compared with the US$261 million the same period in 2017.
  • Chile’s Minister of Mining, Pablo Terrazas, signed agreement with local authorities and mine representatives to bolster the industry’s activity in the Tarapaca region.
  • Minera Alamos received environmental permit for the Fortuna project in Mexico. Still early in the permitting phase, this was a key step in ramping the gold project up to production.

International Outlook:

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