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 August Sees Surge in Consumer Optimism, Despite Labor Market Worries READ MORE World Gold Council: China's Gold Market Booms in 2023 READ MORE Signs of an Impending 2024 Recession, Says Citi's Top Economist READ MORE Goldman Sachs: Rising Unemployment Not a Recession Signal READ MORE Strong U.S. December Job Growth Questions Potential March Fed Rate Cut READ MORE Add a Comment Cancel replyYour email address will not be published.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