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.
Canadian company Yamana Gold has announced it will increase its investment from USD 315 million to USD 423 million to reopen the gold mine “Agua de la Falda”, located in Atacama, Chile.
Yamana Gold owns 57% of the project.
Construction at the mine is expected to start in June 2013.
The mine has a production capacity of 5,000 tons of gold per month and a useful life of 13 years.
Source (Spanish): Portal Minero via BrightWire News.
