Business
Update on new Mexican Mining Law
Update on new Mexican Mining Law.
About this update from Fresnillo Plc
[{"type":"text","content":"\n\n Fresnillo Plc\n21 Upper Brook Street\nLondon W1K 7PY\nUnited Kingdom\nwww.fresnilloplc.com\n \n9 May 2023\n \nUpdate on new Mexican Mining Law\n \nFurther to the last update provided by Fresnillo plc (\"Fresnillo\" or the \"Company\") in its production report on 26 April 2023, the Company is today providing an update on the reform to Mexico's Federal Mining Law (the \"Reform\"), which has now been enacted.\n \nFresnillo continues to analyse the Reform in detail; however, at this stage, the Company does not believe it will have any material impact on its current operations or advance exploration projects. Specifically:\n \n1. Concessions for current operating mines.\n \nRegarding mining concessions for current operations, none of the Company's current operations are expected to be impacted as a consequence of the new law, since the Company has all necessary concessions currently in place to permit its operations on an ongoing basis.\n \nFurthermore, the average remaining term of such concessions is 28 years and would, in any case, each be subject to renewal at the end of their respective terms.\n \n2. Concessions for current advance exploration projects.\n \nRegarding concessions for Fresnillo's main advance exploration projects Orisyvo and Rodeo, Fresnillo currently holds all concession permits which have an average term of 33 years, and which are in any case subject to renewal at the end of their respective terms.\n \n3. Regarding tailings dams.\n \nFresnillo continues to analyse any possible implications regarding new requirements for the deposit of tailings or industrial residues. However, no significant adverse impact is currently anticipated.\n \n4...