Mexican House Passes Bill To Increase Mining Fees

On November 26, the Mexican House of Representatives passed an amendment proposed by President Claudia Sheinbaum amending the Governmental Fees Law which included in the changes, increases to the fees paid by holders of mining concession of the Special Mining Fee and the Extraordinary Mining Fee.

The Special Mining Fee is a contribution made by concession holders to the Mexican government of 8.5%, increased from 7.5%, of the profit made from the sale of minerals obtained through extraction. The Extraordinary Mining Fee only applies to profits on the sale of specific materials such as gold, silver, and platinum, paying an additional 0.5% fee on profits, to be increased to 1.0% with the amendment.