Mining Law Published in the Official Gazette

Following its approval, the new mining law has been published in the Official Gazette this week, thus making it official. Canadian mining investors worry about the new mining law as the state retains control over exploration decisions, potentially impacting vital mining stages.

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New Mining Law Published in Official Gazette

The new mining law, published this week in Mexico's Official Gazette, addresses topics such as lithium, concession management, and permits required for natural resource exploitation. The law reforms, adds, and repeals various provisions of the Mining Law, National Water Law, General Law of Ecological Balance and Environmental Protection, and General Law for the Prevention and Comprehensive Management of Waste. 

Canadian Investors Concerned Over Mexican Mining Reforms

Reforms to Mexico's mining legislation, particularly provisions granting exclusive exploration powers to the state, worry Canadian investors. Canadian mining companies account for 71.3% of foreign-capital companies with mining operations in Mexico. Concerns arise as the state retains control over exploration decisions, potentially impacting vital mining stages.

Latin American Mining Projects to Alleviate Global Silver Supply Deficit

While the Juanicipio, Terronera and Cordero projects in Mexico; Magistral and Romina projects in Peru; and Nueva Esperanza project in Chile will not primarily produce silver, they could help alleviate the chronic deficit in the global supply of this precious metal.

Fresnillo Provides Update on New Mexican Mining Law

Fresnillo released an update on the recent reform to Mexico's Federal Mining Law, which has now been enacted. The company is analyzing the reform in detail and for now it does not expect any significant impact on its current operations or advanced exploration projects.

GR Silver Announces Plans for Mexican Assets in 2023

On May 8, 2023, GR Silver Mining outlined its vision for the Plomosas Silver Project in Sinaloa, Mexico, for the remainder of the year and provided updates on its exploration plans and corporate initiatives.

Torex Gold to Invest US$440 Million in Media Luna

Torex Gold Resources presented a second quarterly update on the development of its Media Luna project in Guerrero. The company reported that it expects a peak investment year in 2023. Moreover, it anticipates capital expenditures of US$390 to US$440 million, of which US$66.4 million were accrued during 1Q23.

Chesapeake Gold Initiates Legal Proceedings Over Mining Concession in Metates

Chesapeake Gold Corp. has initiated legal actions against Mexico's General Directorate of Mines (DGM) in response to the cancellation of the San Vicente 3 mining concession within the Metates property. The company believes it provided sufficient evidence to support the required exploration work for maintaining the concession.