May 22 2013

Will Mexico’s New Royalty Drive Away Foreign Investment? – Gold Investing News

A new 5-percent mining royalty tax passed by the Mexican Congress in April is sending a chill through the country’s mining sector, especially in light of the recent pullback in precious metals prices. Mexico, an important destination for mining and exploring for gold and silver , is one of the few mining jurisdictions left in the world that does not charge a royalty on mining production or profits. Instead, companies pay fees based on the number of hectares covered by mining concessions; they also pay 30-percent income tax

By my1gold • Gold Nuggets, Money & Gold • 0 • Tags: bill, companies, cost, investment, law, metals, mexican, mexico, million, mining, pay, reuters, royalty, sector, year