The Canadian company First Majestic Silver has obtained a provisional suspension against the recent mining reform.
The fourth district judge in administrative matters of Mexico City, Ulises Rivera González, granted First Majestic Silver the provisional suspension so that all the effects and consequences derived from the third paragraph of the fifth transitional article of the reform decree are paralyzed.
That is, so that applications for mining concessions requested under the previous law in force are not considered rejected without further processing.
The judge considered that it was possible to grant the provisional suspension requested, so that the responsible authorities carry out the corresponding actions so that it does not apply to First Majestic Silver.
Do not miss: the reform of the mining law would affect more than 70 sectors, warns Barra de Abogados
The Canadian company has launched an amparo action against the acts of President Andrés Manuel López Obrador and other authorities for the decree containing reforms to the mining law and others, published on May 9 in the Official Gazette of the Federation.
The judge set June 7, 2023 as the date to hold the incidental hearing, that is to say to determine whether the definitive suspension is granted to First Majestic Silver.
Among the main changes envisaged by the mining reform is the reduction of new mining concessions from 50 to 30 years, after which they can be extended for one time only for 25 years. Once the extension has been concluded, the concessionaire may participate in the call for tenders for the same mining lot with preference for the determination of the adjudication if this is equal to the highest bid; The latter will be granted for a non-extendable period of 25 years, with which a company can operate the land for 80 years.
“Entrepreneur. Amateur gamer. Zombie advocate. Infuriatingly humble communicator. Proud reader.”
