Mining companies: Canada is concerned about the treatment in Mexico

Mary Ng, Canada‘s Minister of International Trade, Export Promotion, Small Business and Economic Development, expressed concern about the treatment of mining companies in Mexico.

Ng met on Monday with Mexico’s Secretary of Economy, Raquel Buenrostro, in Mexico City, as part of the 10th North American Leaders’ Summit.

«Minister Ng expressed her concern about the treatment of Canadian mining companies in Mexico and the need for transparent permitting processes in the mining sector,» said the Canadian government in a press release.

In this regard, on December 7, Buenrostro commented at a press conference that the mining sector in Mexico pays virtually no taxes in proportion to its total income and is one of the industries with the most corruption related to regulations at the Ministry of Economy.

«Mines are not white popcorn; they have problems all over the world. After hydrocarbons, the strongest contraband is mining, more than textiles, shoes and clothing,» Buenrostro said at the time.

Mining companies

According to data from the U.S. Department of Commerce, the market value of Mexico’s mining sector in 2021 was US$1.81 billion. In 2021, mining production reached 16.68 billion dollars.

«Large taxpayers pay 2.4% of their total income; we, who are salaried, pay between 30 and 35%, and mining companies pay 0.002% of their total income,» said Buenrostro, who in her previous position served as head of the Tax Administration Services (SAT). «In other words, there is no sector that benefits more than this one.»

Also on Monday, Minister Ng conveyed Canada’s concerns regarding Mexico’s energy reforms and their potential effects on Canadian investment, noting the importance of finding a mutually acceptable solution.

«Ng noted that Canadian companies, including those in the mining sector, are leaders in establishing inclusive and sustainable labor practices,» he added.

At that press conference, Buenrostro said that in a recent conversation with Ng, she agreed that «the miner’s work must be redefined». He went on to say, «I think we have an agenda to talk about».


Redacción Opportimes