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Canadian mining companies to invest $12.0 billion in Mexico

Wednesday, 23 October 2024 10:53:14 (GMT+3)   |   San Diego
       

In the midst of a legislative process to ban open-pit mining and other changes in related laws, the commercial counselor of the Canadian embassy in Mexico, Julie Poirier, said that if there is legal certainty in the country, Canadian mining companies will invest around $12.0 billion in 2025, according to local press reports.

In addition to changes to mining-related laws, there is a reform process to change the Judiciary. The latter, some experts have pointed out, could undermine legal confidence for private companies in the country.

According to the local newspaper El Universal, data from the Ministry of Economy, Canada is the main investor in the Mexican mining industry with more than $16.5 billion from January 1999 to June 2024.

Since the last government (2018-2024), the Ministry of Economy has not granted new mining concessions in Mexico. The new six-year government began on October 1 with Claudia Sheinbaum as president.


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