Mexican authorities announced that no more permits for new open-pit mining projects will be issued during López Obrador’s remaining government term, set to end in September 2024. Experts stressed that the ban on new permits poses a threat to investments and developing mining companies.
Mexico’s Minister of the Environment, María Luisa Albores, stressed that no more concessions will be granted for open-pit mining projects due to the negative impact on the environment and the adverse effects on the health of communities living nearby.
In addition, the minister stated that many of the concessions already granted threaten 68 protected natural areas. Therefore, López Obrador’s government has ordered the creation of five new natural reserves, increasing the protected areas to two million hectares.
Several experts argue that the government maintains its misconceptions about the mining industry, which threatens the sector’s performance and investment. Ralph Shearing, Executive President, Altaley Mining, said the ban on open pit mining is unnecessary and causes significant damage to the industry, as he sees plenty of value in a well-run open pit mining project.
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