|Bid||40.76 x 10000|
|Ask||42.50 x 267000|
|Day's Range||0.00 - 0.00|
|52 Week Range|
|Beta (3Y Monthly)||0.65|
|PE Ratio (TTM)||243.99|
|Forward Dividend & Yield||N/A (N/A)|
|1y Target Est||6.26|
A lawmaker from leftist President-elect Andres Manuel Lopez Obrador's National Regeneration Movement (MORENA) party presented the bill in the Senate on Tuesday that would change mining regulations and require the consent of indigenous communities before granting mining concessions on their land. The bill is one of a handful up for consideration that would regulate the mining sector. Morgan Stanley downgraded the stocks of Mexican miners Industrias Penoles and Grupo Mexico citing 11 bills and resolutions that could materially affect mining companies operating in Mexico, dragging their shares to levels not seen since 2016.
Former workers of Mexican miner Grupo Mexico plan to block access to the giant Buenavista copper mine on Dec. 1 to pressure the company and the country's incoming leftist government to give them back their collective labor contracts. The planned industrial action is part of a longstanding dispute after Grupo Mexico fired the mine's workforce and reopened it in 2010, following a federal judge's ruling that a nearly three-year strike over a labor dispute was illegal. "We're looking to recover our collective labor contracts, which was stolen by Grupo Mexico," Sergio Tolano, secretary general of section 65 of the National Mining Union, told Reuters.
Latin American stocks and currencies fell on Thursday, hurt by losses in Mexico under continued pressure from a lawmaker's mining bill, with movements amplified by thin volumes on account of the U.S. holiday ...
Latin American stocks and currencies fell for a third straight day on Wednesday, hurt by weakening assets in heavyweight Brazil, whose markets reopened for trade and reflected some of the weakness the ...
Mexican miner and transport company Grupo Mexico said on Wednesday that net profit fell by 30 percent in the third-quarter, compared to the year earlier period. The company reported a net profit of $339.5 ...
Miner Grupo Mexico could reopen the country's largest underground mine in the first quarter of 2019, after it closed more than a decade ago due to a workers strike, a senior government official said in an interview. The company began to refurbish the San Martin mine, which has copper, silver, lead and zinc, a week ago, said Carlos Barcena, the economy minister in the northern state of Zacatecas where the mine is located. A Grupo Mexico official with knowledge of the situation confirmed the plan, but was not authorized to speak to press.
A long-exiled Mexican union leader stormed back onto the political stage on Thursday as a newly-minted senator, saying his legal troubles were behind him and pledging to help President-elect Andres Manuel Lopez Obrador defeat poverty. Miners' union leader Napoleon Gomez returned to cheering crowds of union supporters this week after more than a decade of self-imposed exile in Canada, where he fled after the Mexican government accused him of stealing $55 million from a union trust fund. Flanked by international labor leaders, Gomez spoke to dozens of reporters cramped into a hotel terrace news conference.
Mexican miner and transport company Grupo Mexico said that net profit fell by 28 percent in the second-quarter, compared to the year earlier period, hit by a higher tax burden. The company reported a net profit of $402.8 million in the April-June period, compared to $557 million in the year-earlier quarter. Revenue rose 18 percent to $2.67 billion, helped by higher metal prices, but the company's tax burden more than quadrupled to $394.7 million, eating into profits.
The encounter between the powerful CCE business lobby and Lopez Obrador comes as markets took the election of the self-styled radical in stride. At a news conference, CCE director Juan Pablo Castanon and Lopez Obrador said their meeting was characterized by certainty and trust. "I want to express my satisfaction for the attitude of the business sector," Lopez Obrador said.
Southern Copper Corp said on Tuesday that it plans to start building its proposed $2.5 billion copper mine Michiquillay in Peru next year and will likely start operations in 2022 - three years earlier than previously forecast. Southern's chief executive, Oscar Gonzalez, added that the company will need to reach detailed agreements with residents near the deposit in the northern Andean region of Cajamarca before construction can begin. "It's expected operations will start by 2022," Gonzalez told journalists after signing the Michiquillay contract with government officials.
Peruvian precious metals miner Buenaventura said Southern Copper Corp is evaluating its proposal to jointly develop Southern's $2 billion copper project Michiquillay, Buenaventura's chief executive told Reuters on Wednesday. "They were receptive ... but it's up to them to evaluate the preliminary proposal," Victor Gobitz said in an interview at the International Gold & Silver Symposium in Lima, Peru. The two companies jointly own the Coimolache mining company in Peru, and are both junior partners in large mines in Peru controlled by U.S.-based companies.
One of Mexico's richest men has warned his staff of the risk of a "populist" winning the July 1 presidential election, the latest swipe by big business against leftist front-runner Andres Manuel Lopez Obrador. A letter by billionaire German Larrea, published in Mexican media on Tuesday, refers indirectly to Lopez Obrador, who has accused Larrea of belonging to a group of tycoons seeking to thwart democracy and keep him from power. Lopez Obrador has a history of clashing with business leaders and his opponents repeatedly painted him as a threat to Mexico's economic stability during his previous two tilts at the presidency.
Mexican miner and infrastructure firm Grupo Mexico said on Monday it aims to resume rail transport between key commercial port of Veracruz and central Mexico on Wednesday, following a train derailment suspected to be an act of criminal sabotage. The route that transports 80,000 tons daily has been closed since early Saturday, when in Veracruz 39 cars loaded with wheat and four locomotives hurtled down a slope and collided, injuring three people, the company said. Grupo Mexico's rail division, Grupo Mexico Transportes , said saboteurs appeared to have dislodged the train's safety controls.
Grupo Mexico, one of the world's biggest copper producers, said on Wednesday that its net profit for the first quarter was $513 million, up 24.3 percent. The company, which also has units in infrastructure ...
The government of new Peruvian President Martin Vizcarra said on Wednesday it would not "impose" mining projects on nearby communities that object to them, but would seek to promote mining investments to take advantage of improved mineral prices. In the past decade, Southern Copper Corp and Newmont Mining Corp have shelved proposed mines in Peru because of opposition from communities worried about the environmental impact - one of the biggest hurdles to building mines in the world's No. 2 copper producer. Peruvian Prime Minister Cesar Villanueva said the government would encourage mining but only approve projects that respect the environment and have support from communities.
Southern Copper Corp won a tender to develop Peru's estimated $2 billion Michiquillay copper mine in an auction that attracted just two bidders, the government's Proinversion investment agency said on Tuesday. Southern, controlled by Grupo Mexico SAB de CV , won with a proposal to transfer $400 million to the government and pay 3 percent royalties, beating out Compania Minera Milpo, which had offered $250 million in transfers and 1.875 percent royalties. Peru is the world's second biggest copper producer after Chile.
Mexican markets held steady on Tuesday, with investors awaiting U.S. inflation data that could shine a light on the possible next steps of the U.S. Federal Reserve Bank's monetary policy and future appetite ...
Mexican miner Grupo Mexico, one of the world's largest copper producers, reported a fourth-quarter net profit of $131 million on Friday. The company, which also has a transportation business, said revenue ...