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Mexican miners warn of major delays from environment, water rules
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Mexican miners warn of major delays from environment, water rules
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MEXICO CITY (Reuters) - Mexico’s large mining sector will likely see some recovery this year after 2020’s pandemic-induced slump, but a key industry leader said he fears rising political risk will drag down growth as companies focus new investments elsewhere.
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Fernando Alanis, president of Mexican mining chamber Camimex, said in an interview that growing doubts on government polices like permitting and concessions will lead to at least a dozen companies to shift new investments to more inviting countries like Peru and Chile this year.
“In 2021, I think we’re beginning to see other (negative) factors that have nothing to do with COVID,” he said late on Thursday, specifically citing investor uncertainty.
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