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Southern Copper Corp. Message Board

  • airlinemusic airlinemusic Nov 3, 2013 5:06 PM Flag

    Will Goldcorp Close Up Shop in Mexico?

    Will Goldcorp Close Up Shop in Mexico?
    In the headlines from Yahoo

    [
    Gold miners are the latest to feel the brunt of the attempt to rake in more revenues, as the government passed a 7.5% tax on profits of resources plus an additional 0.5% on precious-metals miners.

    Grupo Mexico, whose subsidiary Southern Copper (NYSE: SCCO ) is the country's largest copper producer, has also said it would be "obliged" to look elsewhere for places to invest the $3.5 billion it has available.
    ]
    So where does SCCO go that has not been claimed by someone else.
    No improvements for Mexico is perhaps a rash judgement
    [
    Goldcorp (NYSE: GG ) has said the new tax would push its effective tax rate to more than 40%, making Mexico the highest-cost country in which to do business.
    ]
    40% of a 100 total dividend gets me $60 but looks like the door will lock until the lack
    of money flow breaks down the doors

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