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.
Minera Alamos (TSXV: MAI) president Doug Ramshaw says a permit application for its Cerro de Oro gold project in Mexico might be processed faster under the country’s new president, Claudia Sheinbaum.
Permitting has slowed in recent years under former president Andrés Manuel López Obrador. Still, Ramshaw said in an interview that Sheinbaum’s administration, which started this month, should bring a smoother relationship to the mining sector, especially regarding faster mine permitting.
“We’re very much hoping for blue skies ahead with the change in leadership, after the overcast murkiness of the last couple of years politically,” Ramshaw said last month during the Gold Forum Americas in Colorado Springs, Colorado.
“Cerro de Oro is an absolute game changer for us. It’s a project that works in any gold price environment.”
Cerro de Oro could produce up to 80,000 oz. gold yearly at all-in sustaining costs of US$900 per oz. over the project’s 13-year mine life.
Watch the full interview with The Northern Miner’s western editor, Henry Lazenby.
