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Weekly Roundups

Opposition Requests the Nullify of the Mining Reform

By Paloma Duran | Wed, 06/01/2022 - 17:31

Senators from the opposition are filing an unconstitutionality action against the reforms made to the Mining Law. Meanwhile, Michoacan’s governor highlighted the presence of lithium deposits in the state and backed the recently approved Mining Law reform.

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Senators Oppose Reform to the Mining Law

At least 43 senators of opposition parties PRI, PAN, PRD, Movimiento Ciudadano and recently-formed opposition group Grupo Plural filed an unconstitutionality action against the reforms made to the Mining law, which declared lithium to be a state-owned resource.

Lithium Mining Can Boost Michoacan’s Development, Says Governor

Michoacan Governor Alfredo Ramírez said the state has the potential to further its social and economic development by fostering collaboration between the mining industry and state authorities in the production of lithium. He highlighted the presence of lithium deposits in Michoacan, although further study is still required.

Opposition Leaders Want to Restore the Mining Fund

Marko Cortés, President of Mexico’s main opposition party PAN, said the party aims to restore the Mining Fund during the public discussion regarding the Federal Expenditure Budget of 2023. In the past, the Fund aimed to benefit mining communities, before it was canceled by the López Obrador administration.

Changes in Profit Sharing Spark Injuctions Against Labor Reform

Thousands of miners affiliated with the National Metallurgical Mining Trade Union (FRENTE) have declared themselves against the Labor Reform because it has significantly reduced their employee profit sharing (PTU). In addition, FRENTE decried that the reform violates the Mexican Constitution and therefore the labor rights of the miners.

Tletama Community Defends Mining in Morelos

After environmental ministry SEMARNAT supported the protest against Esperanza Silver’s project by several communities in Morelos, the community of Tletema asked to accelerate the development of the project since it will be an engine of wealth for the region. In addition, the community stressed that reports that everyone is against the project and that its works have already begun are both incorrect.

López Obrador Met with Vulcan Materials CEO

Last week, President López Obrador received Thomas Hill, CEO, Vulcan Materials, after tension between the company and the Mexican government escalated following the latter’s accusation that the company to extracts and exports limestone to the US without the required permits.

Sierra Madre Acquires the La Guitarra Silver Property

Sierra Madre Gold and Silver announced it has signed an agreement with First Majestic Silver to fully purchase the La Guitarra silver-gold mine in Temascaltepec, State of Mexico. This transaction will increase Sierra Madre’s project portfolio to three projects.

SilverCrest’s Las Chispas Processing Plant Starts Operating

SilverCrest Metals announced that the construction and commissioning of the Las Chispas processing plant has been completed ahead of schedule and under budget, despite the difficulties posed by the pandemic. In addition, the company announced that it will continue its exploration program to identify new opportunities in the region.

The data used in this article was sourced from:  
MBN
Paloma Duran Paloma Duran Journalist and Industry Analyst