Lawmakers vote to overhaul Mexico’s mining laws

In a 251-209 vote, the Mexican parliament’s lower house has voted to move forward with a proposed overhaul of the country’s mining laws, reported Reuters.

The reforms would require miners to give back at least 10% of profits to communities and disclose the impacts of their operations.

The head of Mexico’s mining chamber said the proposed overhaul could cost the country some $9 billion in lost investment in coming years and up to 420,000 direct jobs.

Mexico is the world’s top silver producer and one of the largest producers of copper and gold.

Source: Reuters