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Mining: Mexico’s Economic Pillar

Ramón Luna - Spm
General Manager

STORY INLINE POST

Thu, 10/17/2019 - 13:53

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Q: What value does SPM add to the mining industry?
A: Our focus is on the exploration stage. We are specialists in geology, drilling and resource and reserve assessment. We have unmatched expertise in working integrally with communities, government and companies so as to create good synergies from the start. It is important to make all parties understand that if they work together, instead of looking after their own individual interests, everyone will benefit. Moreover, our technical expertise and thorough knowledge of the Mexican terrain have translated into profits for our clients. A case in point is our work with GoGold Resources, a Canadian company. We have a long-term relationship with the company and have developed all its projects here in Mexico. Our efforts at Santa Gertrudis resulted in a 500,000-ounce project that we doubled in a year. Consequently, GoGold was able to reach an excellent deal with Agnico Eagle, and the project is key for this company’s strategy in Mexico. Similarly, we have carried out projects where production had been abandoned. We came in and offered a different point of view, which resulted in a revival of mines in Sonora and Jalisco.
Q: What is your perception of the impact on the mining industry from the new administration?
A: Business has been strong so far. As is usually the case every six years when there is a change of government in Mexico, uncertainty was generated and investments slowed down a little. Despite that, companies with existing operations are continuing to work and bring their projects to fruition. New companies have been reticent to invest, it is true, but those that are well-established in Mexico are showing the way to new investors.
More than proposing new taxes and regulations, it should be opening the doors and promoting new investments. The changes needed in terms of regulations are not many. What is needed are sound policies. There is a desire at home and abroad to unlock Mexico’s immense mining potential. Companies are unanimously in favor of complying with regulation and operating responsibly. We all have the hope that the government will spur us on. Mining has always been one of Mexico’s economic pillars.

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