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.
Gold Royalty (NYSE: GROY) CEO David Garofalo joined the second day of The Northern Miner‘s Canadian Mining Symposium October 12-13 in London.
Garofalo, who is also co-chair of GoldMining (TSX: GOLD; NYSE: GLDG), said governments should “stay out of the way” of mining projects because long lead times, unclear regulations and overlapping jurisdictions all drive away investment. A new Canadian Supreme Court ruling could help, he said.
He also covered how investors must back junior explorers to reverse the global trend of falling gold production, dismissed nationalism and championed the crucial role water recycling plays in mining.
Watch his full conversation with The Northern Miner’s podcast host Adrian Pocobelli:
