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AMLO: Friend or Foe for Mining in Mexico?

  • ID: 4618379
  • Report
  • August 2018
  • Region: Mexico
  • 17 Pages
  • BNamericas
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More than 20 New Mines, Expansions and Optimizations with Combined Capex North of US $7bn are Expected to Begin Production by 2025

Mexico’s mining chiefs were among Andrés Manuel López Obrador's most vocal critics in the run up to the July 1 polls, warning his policies would lead to a Venezuela-style economic collapse. But these fears have been quickly forgotten - at least for the moment - as the president-elect struck a conciliatory tone in his victory speech and calmed jitters through meetings with key business leaders. AMLO’s landslide win, on the back of a campaign focused on corruption and poverty, was followed by a surge in the peso rather than a run on the banks.

Mining leaders appeared equally keen to bury the hatchet. Germán Larrea, CEO of Grupo México, who had urged voters to reject AMLO, congratulated the left-wing Morena party leader and pledged to co-operate to deliver growth. Whether this is the start of a lasting partnership between government and mining or a brief honeymoon period will depend on AMLO’s actions once he takes power on December 1.

Opinions are divided over who exactly AMLO the politician is.

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1. Introduction

2. AMLO and Mining

  • Figure: Mexico GDP Growth

3. Road to Recovery

  • Figure: Mexico Mining Investment
  • Figure: Project Pipeline

4. Security: A Fresh Approach
Figure: Gold and Silver Output

5. Union Frictions, Empowered Communities

  • Figure: Copper Output

6. Royalties, Regulations and Environment

  • Figure: Mining Production Value

7. Conclusion and Outlook

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