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.
Protests against the Canadian-owned Bear Creek Mining Corporation’s (CVE:BCM) Santa Ana Silver project resulted in five people being killed by police gunfire last Friday at the Juliaca International Airport, located 160km away from the site, and contributed to a severe drop in the company’s share price. This one dramatic event is a culmination of months – or possibly years – of political unrest in the country, and represents a very uncertain future for foreign investment in the natural resource sector.
