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.
Agnico Eagle’s board of directors has given the go-ahead for construction of the Meliadine and Amaruq gold mines in Nunavut. The company says it expects to invest $1.2 billion in the new mine sites. The Meliadine mine is located 25 km north of Rankin Inlet. Amaruq is a satellite deposit of the existing Meadowbank mine 110 km north of Baker Lake. Meliadine has been approved by the Nunavut Impact Review Board. Permitting is still pending for Amaruq.
