Open-Pit Mining Ban Threatens the Economy: Mining Associations

The proposed ban on open-pit mining has been criticized by all Mexican mining associations, who warn that it could lead to significant job losses and reduced opportunities for specialized workers and students in earth sciences. The associations also caution that the proposal could endanger the mining sector and the Mexican economy, potentially causing a 1% contraction in the national GDP.

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CAMIMEX Opposes Open-Pit Mining Ban 

CAMIMEX has expressed strong opposition to a proposed constitutional reform that seeks to ban open-pit mining in Mexico. The organization, along with other mining groups, is calling for dialogue to foster a better understanding of the mining sector. This approach aims to develop effective regulations that will avoid negatively impacting the over 3 million families who rely on mining for their livelihoods. 

Open-Pit Mining Ban Advances; Final Vote Expected in September 

Last week, a committee in Mexico's lower house of Congress approved several of President López Obrador's constitutional reforms, including measures to ban open-pit mining, fracking, and water concessions in areas with limited water availability. These proposals will be taken up for discussion by the full lower house in September, aligning with the transition of deputies and senators in Congress.

Excluding China From Copper Supply Will Derail Energy Transition 

Diversifying away from China in the global copper supply chain could result in an US$85 billion shortfall for Western economies, potentially undermining global energy transition goals. Without China, an additional 8.6Mt of copper would be required over the next decade.

Metso Refutes Sandvik Merger Rumors 

 After Swedish business newspaper Dagens Industri reported that Finnish mining equipment manufacturer Metso was considering a merger with Sweden’s Sandvik mining division, Metso refuted these market rumors.

JFCA Validates SNTMMSSRM’s Strike at El Sombrerete

The Federal Board of Conciliation and Arbitration (JFCA) ruled that a settlement agreement between Grupo México and a coalition of workers, who are not affiliated with the National Union of Mining, Metallurgical, Iron, Steel, and Similar Workers (SNTMMSSRM), is illegal. This decision upholds the legality of the strike at the San Martin mine, which has been ongoing since July 2007.

AHMSA Enters Bankruptcy Phase

Altos Hornos de México (AHMSA) has officially entered the bankruptcy phase after failing to secure an agreement with its creditors. Despite this significant challenge, the company is actively exploring new opportunities to revive the steelmaker, engaging in discussions with seven potential investors.

CIMMGM Joins Mining Voices Against Open-Pit Ban

The College of Mining, Metallurgical, and Geological Engineers of Mexico (CIMMGM) voiced concerns about a proposed ban on open-pit mining. The association cautions that this ban could endanger many jobs in the Earth Sciences field and have detrimental effects on both current professionals and students.