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 in Canadian silver junior Aurcana (TSX:AUN) leapt 12% to CND$1.05 after the company announced a radically updated estimate for resources in its La Negra Mine in Mexico.
According Aurcana’s press release the updated resource estimate ‘shows a 50-fold increase from the prior Measured and Indicated resource estimate of 2.3 million ounces of silver to the current estimate of over 115 million ounces of silver.’
