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.
Shares of junior Canadian miners Bear Creek Mining (BCM.V: Quote) and Rio Alto Mining (RIO.V: Quote) fell on Monday, following anti-mining protests in southeastern Peru, just days ahead of a presidential run-off election.
Aboriginal protesters opposed to Bear Creek’s Santa Ana silver project had blocked roads and trapped hundreds of tourists in the town of Puno on the shores of Lake Titicaca, according to recent media reports.
