OTCQX:LMCNF - Post by User
Comment by
peregrine3on Dec 01, 2018 2:11pm
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Post# 29049630
RE:Changes to Mexican mining code
RE:Changes to Mexican mining codeThis weeks comment from US Global Investors:
Mexico has proposed changes to its mining laws that could be slightly negative for mining companies operating in the country. The new laws enable a government entity to perform social impact studies as a part of the concession process. It will enable the Commerce Secretary to declare protected areas and require companies to set aside monies for sustainable development, as well as issue a yearly social impact study of company activities. Another concern for the Mexican mining industry is the return of former mining and metal works union leader Napoleon Gomez, who was accused of taking $55 million from a workers fund in 2004-2005. Gomez fled to Vancouver until he was pardoned in 2014 and is now back working on the proposed changes to the mining legislation in the Mexican Senate.