Mexico most expensive country for mining investments in Latin America

Posted on June 19, 2014 • Filed under: Business, Latin America Mining, Mexico reported Mexico has become Latin America’s most expensive country for mining investments, as the country is rolling out its energy reforms approved last year, which increases taxes from 5% to 7.5%, charged as a percentage of profits. Gold and silver miners are the ones that will hurt the most, as they now have to pay an additional 0.5%, taking their total royalty up to 8.0%. As a consequence, Diario Once reports (in Spanish) the cost of mining and exploring for gold and silver in the country has increased 13% and 20%, respectively, over the past year. Read Article

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