Deputy Secretary for Business and Industry, Lorenza Martínez, from Mexicos Secretariat of Economics, has affirmed the Mexican governments compromise to continue legal guarantees in order to attract more Canadian mining investments.
Speaking recently at the Prospectors and Developers Association of Canada international convention, Martínez encouraged Canadian mining entrepreneurs to continue investing in Mexico and that only 25% of Mexican territory has been explored.
Martinez highlighted that, Mexico has a stable economy, is strategically located, has 11 business treaties with 43 countries, has a competitive and specialized labor force, and that its mining laws provide guarantees to concessioners.
The Mexican Deputy Secretary stressed that in the past, companies needed to obtain two separate permits; one for exploration and a second one for extraction, but she also stated that now only a single permit is required.
In an interview with Notimex, Martínez stated that the greatest endorsement of Mexican mining is that Mexico is now the worlds number one silver producer.
She maintained that, In terms of attracting mining investments, we are the fourth largest in the world and the largest in Latin America. This speaks to Mexicos great potential and demonstrates that there are adequate conditions for making foreign investments successful.
Canada represents 75% of the total foreign investment in the Mexican mining sector.
When speaking about the Mexican governments pursuits to attract more Canadian investments, she explained that Mexico is the first country to rely on software that allows electronic access to geological, geophysical, and infrastructure information, as well as information from its concessions.
She added, We also have a multidisciplinary group (
) to follow up on mining projects, improve legal guarantees, and prevent mining investments from failing due to regulation or inconsistencies between various government bodies.
When speaking about Mexican Miners Day, the Canadian ambassador to Mexico, Guillermo Rishchynski, stated that Mexicos mining regulations have contributed to the success of Canadian mining projects in that nation.
Of the 286 foreign mines in Mexico, 210 (73%) are Canadian. Investments in the mining sector make up 44% or all Canadian investment in Mexico.
The Deputy Secretary for Environmental Protection and Management, from the Secretariat of the Environment and Natural Resources of Mexico, Mauricio Limón, spoke about how the process has been simplified and how this has reduced the time needed by companies to complete environmental impact studies.
