Economy & Business - March 2021

MEXICO: Arbitration request points to worsening of investment conditions

On 2 March Canadian mining company First Majestic filed a request for arbitration at the World Bank’s International Centre for Settlement of Investment Disputes (ICSID). The company is a silver producer that has three operating mines in Mexico – San Dimas, in Durango state; Santa Elena (Sonora); and La Encantada (Coahuila), its largest operation in the country. The company also owns several other mines in the country, which are at different stages of development, as well as several exploration projects. Primero Mining Corporation (PEM), which it purchased in 2018, is its subsidiary in Mexico, the world’s largest silver producer (the country is responsible for nearly a quarter of global production).

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