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.
Two First Nations near Princeton, B.C. will get a share of the taxes the B.C. government collects from the new Copper Mountain Mine.
Under a new economic and community development agreement signed with the B.C. government, the Similkameen Indian Band and Lower Similkameen Indian Band will get 35% of the taxes the B.C. government collects on the new mine, which went into operation in June 2011.
The B.C. government was unable to provide information on how much it collects from the new mine.
The agreement also provides commits by the government to work with the bands on other future mining activities in their territory.
“Our Smelqmix and Syilx chiefs and councils have been petitioning the province to share the wealth of the resources in our territories for a long time,” said Upper Similkameen Chief Charlotte Mitchell. “We see this agreement as a small step in the right direction.
By Nelson Bennett
