Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
The Washington Post reports a “stark collision of cultures” is taking place in the desert mountains of Mexico, where the Huichol Indians are trying to stop a Canadian company from starting a $100-million silver mine.
The Huichol uphold the mountains as a “cosmic portal” where the sun was born and shamans collect peyote to be used in ritual sacraments:
“For them the whole mountain is a temple, and the gold and silver below the ground are there for a reason — they contribute to the energy, and it would be best if they just left it alone,” said Eduardo Guzman, an activist and spokesman for the Huichol living in a hard-scrabble pueblo called Las Margaritas at the foot of the magic mountain.
The area in question is also referred to as the La Luz Silver Project, acquired by First Majestic Minerals in 2009. First Majestic (TSE:FR) describes Real de Catorce as “an old mining district” that produced 230 milllion ounces of silver, mostly during the 1770s. The property consists of 22 mining concessions covering 6,327 hectares.
3 Comments
3051001
As a Native I get tired of these kinds of excuses as to why something shouldn’t develop so the Natives can have what they want – in this case it is so shamans can collect peyote for rituals that they do and get paid for – so it is all about the shaman and not the benefiots of the people
Typical Native structure – the few gain much over the many who get little
Jan
In this case the Huicholes and Mexicans in general will get waste, polution and disease and Canadians gold and silver. Canadians have extracted more gold and silver from Mexico in a few years than the Spaniards in 300.
guest
How do you know they get paid?