The Prospector News Michael Fox is joined by Ramon Davila on the ground in Guanajuato Mexico. Ramon is the former Minister of Economic Development for Durango State in Mexico and is our source for what is happening politically in that country. We discuss the results of the recent Mexican election and its potential effect on the mining industry and the economy as whole. In spite of President Elect Claudia Sheinbaum’s assurances that Mexico is open for business, it would appear that in September when gov’t returns, they are going to move forward with the open pit mining ban as well as the wholesale changes to the existing mining policies. We discuss what and how they would be implemented and the impacts on current and new operations in Mexico and the downstream impacts on other industries such as Solar panels and Automotive manufacturing as well as the cement and construction industries (as much of the material for those industries come from open pits.

We won’t know for sure all the elements of the legislation until it is tabled in September so for now, we must take a wait and see posture to see what will happen.