Proposed Ban on Open-Pit Mining Could Crush Mexico's Economy Mexican President Andres Manuel Lopez Obrador’s recent proposal to ban open-pit mining is causing concern within the mining sector, which is a significant contributor to the country’s economy, accounting for 2.5% of its GDP. Industry representatives argue that the proposed ban, aimed at preventing new open-pit mining concessions, could lead to uncertainty and deter investment in this crucial sector. Mexico, being the leading silver producer globally and a significant producer of gold and copper, could face adverse effects from such a policy. Although the proposal is not expected to pass in the short term due to a lack of necessary congressional support, it has been endorsed by Claudia Sheinbaum, the frontrunner to succeed Lopez Obrador, as part of her campaign platform. This endorsement has intensified concerns about the future of mining investments in Mexico. « Previous Article Next Article » Share This Article Choose Your Platform: Facebook Twitter Google Plus Linkedin Related Posts 2023 Market Performance: A Review of Asset Class Returns READ MORE Stocks, Gold Rise on Bet on Aggressive Fed Rate Cut READ MORE Shenzhen: China's Rising Star in the Gold Jewelry World READ MORE Banking Crisis 2.0? NYCB Stock Down 60% in One Week READ MORE Home Price Growth Decelerates as High Rates Dampen Buyer Enthusiasm READ MORE Add a Comment Cancel replyYour email address will not be published. Required fields are marked *Name * Email * Save my name, email, and website in this browser for the next time I comment. Comment