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Mexico cancels mining concessions

Bnamericas Published: Friday, June 24, 2016
Mexico cancels mining concessions

Mexico's economy ministry announced the cancelation of 105 mining concessions.

The concessions, which cover about 149,000ha, were canceled after being withdrawn by their owners, according to a filing on the official federal diary website.

The highest number of canceled concessions are in Sonora state (29), followed by Zacatecas (15), Sinaloa (14), Durango (11), Chihuahua (9) and Coahuila (7).

Five are in Baja California, with three each in San Luis Potosí, Nayarit and Michoacán, and one each in Morelos, Guanajuato, Nuevo León, Puebla, Hidalgo and Jalisco.

Under Mexico's mining code, the plots will be released in 30 days.

Mexico's geological service lists more than 600 exploration stage mining projects in the country, along with 41 in development and 154 suspended projects.

Investment in exploration in Mexico has slumped in recent years following falls in gold, silver and other metal prices. Exploration spending is expected to be US$483mn this year, down from US$528mn in 2015 and US$856mn in 2014, mining chamber Camimex said earlier this month.

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