What Happened: Mexico's ruling National Regeneration Movement, or Morena, has presented a legal draft in the Senate to amend the country's mining code, El Economista reported Nov. 21.
Why It Matters: The proposed changes significantly raise the risk to companies considering entering or already involved in Mexico's mining sector. The reforms would increase the chances of running afoul of government regulations by not meeting social obligations stipulated in the law.
Background: Mexico's President-elect Andres Manuel Lopez Obrador is attempting to give Mexicans more influence in government and private-sector activities that affect their well-being. Unlike Mexico's state-owned oil company Pemex, the country's mining sector has not always delivered social spending and progress to the country's citizens.
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