New Joint Venture Opportunities In Mexico

In September 1992, mining in Mexico was opened again to foreign investment by President Salinas-de Gortari, after thirty years of "Mexicanization" of mining industry which limited foreign participation up to a 49 % (or 34 % in case of national reserves) on a Mexican mining corporation. During said period mining in Mexico was controlled by four or five big mining companies and besides mining production was focused mainly on silver, lead, zinc, copper and fluorspar. Suddenly in middle of a big crisis on Mexican mining industry due to low prices of minerals in the world and also in a period on which it seems that mining industry in the United States and Canada has been condemned to die for environmental reasons, it appears a new Mexican Mining Law to permit foreigners to participate in mining in Mexico' trough Mexican mining corporations that they may control up to 100 %