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.
In late 2019, the Tŝilhqot’in Nation, as represented by Tŝilhqot’in National Government, and Taseko Mines (TSX: TKO; NYSE: TGB) entered into a confidential dialogue, facilitated by Canada’s Province of British Columbia, to try to obtain a long-term solution to the conflict regarding Taseko’s proposed gold-copper mine currently known as New Prosperity, acknowledging Taseko’s commercial interests and the Tŝilhqot’in Nation’s opposition to the project.
The dialogue was supported by the parties’ agreement, on December 7, 2019, to a one-year standstill on certain outstanding litigation and regulatory matters that relate to Taseko’s tenures and the area in the vicinity of Teztan Biny (Fish Lake).
The covid-19 pandemic delayed the commencement of the dialogue for several months, but the Tŝilhqot’in Nation and Taseko have made progress in establishing a constructive dialogue.
They have agreed to extend the standstill for a further year so they can continue this dialogue, Taseko announced this week.
