Mexico opens door to foreign investors

Foreign investors may be allowed to control 100% of a mining concession in Mexico for up to 12 years after Dec. 10 when the country’s new mining regulations goes into effect. The regulations were issued on Sept. 27, giving miners access to unexplored mining areas. A Mexican official expects the new policy to attract a large number of applications to explore and develop mining sites in Mexico in 1991, reports Metals Week. Mexico, however, will retain the right to mine strategic minerals.

“Mexico’s director of commission to promote mining predicted that Japanese companies would now flock to Mexico to take advantage of the nation’s abundant raw materials,” adds Metals Week.