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.
The Mount Polley tailings pond spill has prompted a group of Alaskan politicians to ask U.S. Secretary of State John Kerry to intervene in connection with B.C. mine projects, according to Business in Vancouver.
The group, which includes senators, legislators and Congressman Don Young, has signed a letter requesting that Kerry act to address worries about the environmental impact of new mines in the northwest corner of the Canadian province.
The newspaper reports:
The letter was prompted by the Mount Polley mine disaster, which spilled more than two tonnes of mine slurry and 10 million tonnes of water into Hazeltine Creek and Polley and Quesnel lakes.
Mount Polley is nowhere the U.S. borders [sic], but the Red Chris mine is located in northwest B.C. in the Stikine watershed, which is shared with Alaska.
Red Chris is owned by Imperial Metals (TSX:III), which also owns the Mount Polley mine.
The main concern involves the proposed KSM copper mine located 30 kilometres from Alaska, the paper says, noting that the Mount Polley dam failure happened ahead of what promises to be one of history’s biggest sockeye salmon returns.
To read the full report, click here.
Image: fotostory / Shutterstock.com
2 Comments
Mike Failla
Dear God, please let him be occupied elsewhere.
frankinca
Good year for sockeyes, maybe not for Imperial mines who didn’t follow the rules and ended up with what? The Pebbles project better have a news story out soon to counteract the news which could be significant in getting US approval. Maybe Kerry could be a US/Canada mining lobbyist in the future with further training.