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Prospector News Podcast – Ramon Davila “Mining In Mexico Represents 2 5% of GDP and nearly 1 Million Direct and Indirect Jobs”

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Prospector News Podcast – Ramon Davila “Mining In Mexico Represents 2 5% of GDP and nearly 1 Million Direct and Indirect Jobs”

 

 

 

 

Michael Fox is joined by Ramon Davila President of Guanajuato Silver to discuss Mexican Mining policy, Court cases and the upcoming election on June 2. We begin the discussion with the Mining Act changes first implemented by the Government about a year and half ago and the current challenge of the legislation on Constitutional grounds. Mining is critical to the Mexican Economy and represents 200,000 direct jobs and another 800,000 indirect jobs. In many rural areas this is the only source of meaningful employment for the local population. This doesn’t include jobs in manufacturing. As the largest Silver Producing Nation factories have been popping up in Mexico for Electric Vehicles and Solar Panels which represent the largest growth potential for silver usage.

 

Next, we discuss the Mexican election on June 2 featuring Claudia Sheinbaum and Xochitl Galvez as the leading candidates. Scheinbaum represents the Moreno Party (the incumbent party of current President Obrador) Part of their platform is to ban Open pit Mining (this represents 60% of all mining in Mexico) We discuss if this is election rhetoric or reality. As well as the repercussions to the Mexican economy if they were to follow through. We contrast this with the more pro mining candidates Galvez who would like to bring back the Mining Fund which funneled money into the communities surrounding operating mines for growth and infrastructure.

 

About Guanajuato Silver

 

GSilver is a precious metals producer engaged in reactivating past producing silver and gold mines in central Mexico. The Company produces silver and gold concentrates from the El Cubo Mine, Valenciana Mines Complex, and the San Ignacio mine; all three mines are located within the state of Guanajuato, which has an established 480-year mining history. Additionally, the Company produces silver, gold, lead, and zinc concentrates from the Topia mine in northwestern Durango. With four operating mines and three processing facilities, Guanajuato Silver is one of the fastest growing silver producers in Mexico.

 

Guanajuato Silver

Posted April 26, 2024

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