Enactment Of Mexican Mining Law Amendment

On May 8, 2023, the Mexican Government enacted a Decree amending several provisions of the Mining Law, the Law on National Waters, the Law on Ecological Equilibrium and Environmental Protection and the General Law for the Prevention and Integral Management of Waste, regarding mining and water concessions.

Said amendment was approved by the Mexican Congress on April 28, modifying the duration of the concession titles in the matter, which will be reduced from fifty to thirty years.

Hereafter, the duration of mining concessions may be extended once for an additional term of 25 years. At the end of such term, the concessionaire may participate in the tender of the same mining lot for a final additional 25-year period, as long as the corresponding authorizations and permits for its operation have been granted, along with the necessary water concession for industrial use in mining.