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 Record High Credit Card Debt Strains American Finances Amid Inflation READ MORE US labor market stays resilient; housing regresses on higher mortgage rates READ MORE Powell Signals Potential Rate Cuts Pending Inflation Control READ MORE IMF Cautions Against Premature Rate Cuts by Central Banks READ MORE Gold Declines as Traders Consider Odds for Later Fed Rate Cuts READ MORE Add a Comment Cancel replyYour email address will not be published.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