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.
Bill Bennett.
Energy and Mines Minister Bill Bennett rang in 2016 with thoughts of a potential rescue package for B.C.’s beleaguered mining industry on his mind to ward off potential mine shutdowns.
Options for assistance to mining companies struggling with low commodity prices could include deferrals on payment of power bills and delayed payments on mineral taxes, Bennett said in an interview. There are real potential consequences if the province can’t offer any help.
“There’s urgency to this,” Bennett said. “If we don’t find something to do that will help in early January, then by mid-January I think you’re going to see some mining companies go down.
