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.
Industrias Peñoles estimates that the company will carry out the first tests for zinc extraction in the Velardeña mine, located in Durango, Mexico, in November 2012.
This project involves an investment of USD 230 million and will create between 600 and 700 jobs.
It is estimated that the mine will be operational in 2Q 2013.
Source (Spanish): Yancuic via BrightWire News.
