Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Bloomberg News reports that Hecla Mining, the biggest silver producer in the United States, has agreed to pay $263 million to settle one of the country’s biggest Superfund lawsuits:
Hecla’s payment, including interest, will be made to the federal government, the Coeur d’Alene Indian Tribe and the state of Idaho, resolving claims stemming from waste discharged from its mining operations, the U.S. Justice Department said today in an e-mailed statement.
The lawsuit, brought by the American Indian tribe in 1991 and joined by the U.S. five years later, sought money to deal with water and wildlife damage in northern Idaho. The case was one of the biggest pursued under the Superfund law, which seeks to make polluters pay for eliminating environmental hazards.
