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.
For the fiscal year ended September 30, 2012, Orvana Minerals Corporation posted production of 55,929 ounces of gold, 15.4 million pounds of copper, 716,280 ounces of silver and 636,810 pounds of lead.
32,864 ounces of gold were extracted from the Belmonte de Miranda and Salas mines, located in Asturias, Spain. Gold production from the mines increased compared to the 9,336 ounces of gold extracted in FY 2011.
Silver production also increased, going from 28,456 ounces in FY 2011 to 117,113 ounces in FY 2012.
Source: Oro y Finanzas is an industry-based source that distributes news related to the gold and silver sectors from across the globe.
Source (Spanish): Oro y Finanzas
