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.
Peru’s Buenaventura, one of the country’s largest miners of precious metals, on Wednesday said it added two executives from Chile’s Antofagasta to its board of directors following a partnership that began late last year.
The new members are Ivan Arriagada, Antofagasta’s chief executive, and Andronico Luksic, Antofagasta’s vice president of development, Buenaventura said in a statement.
They will join another seven members on Buenaventura’s board of directors.
Antofagasta acquired a 19% stake of Buenaventura in December.
(By Marco Aquino and Daina Beth Solomon; Editing by Kylie Madry)
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