President López Obrador said the meeting took place yesterday afternoon, at the request of Prime Minister Justin Trudeau.
Adriana Esthela Flores
President Andrés Manuel López Obrador assured that he had resolved the problems “without any obstacle” with representatives of four Canadian companies dissatisfied with the reforms of the electricity sector.
The meeting with foreign directives was held yesterday, Wednesday January 18, after the request of the Prime Minister of Canada, Justin Trudeau, during the last North American Leaders Summit.
Trudeau made the request to the Mexican president during the bilateral meeting they held at the National Palace on January 11. On this occasion, López Obrador underlined the investment of the Canadian company TrasnCanadá in a gas pipeline on Mexican territory and promised to receive businessmen from this country.
López Obrador assured that the disagreements presented by four Canadian companies regarding electricity legislation in Mexico have been resolved. Also confirmed that he chaired the meeting himself, together with the economic cabinet.
“We have served four Canadian companies and we have solved the problems that affected the companies in the electricity sector without any obstacles. That’s how we did with the Americans and we’re still looking for conciliation.
Extortion from mining companies
He also revealed that two of the 125 Canadian mining companies in Mexico have been victims of extortion by criminal groups in Guerrero.
The entity operates Canadian Equinox Gold (which operates the Filos mining complex, since 2008) as well as Torex Gold, in charge of the Media Luna project, in the municipalities of Felipe Neri and Cocula, of which there is an estimated reserve of more than 10 million ounces of gold, according to information from the Mexican Geological Service and the Observatory of Social Mining Landscapes of UNAM.
“I told Canadians that there are 125 Canadian mining companies and only two, which are also extorted in Guerrero with crime-linked groups… We are already seeing it, but only two.”
Canada’s cumulative investment in Mexico from 1999 to the middle of last year was $49,901 million. Thus, he became the third largest investor in the country, according to reports from the Ministry of Economy.
According to official figures, a third of this investment was allocated to mining and more than 64% of these resources were concentrated in metallic and non-metallic ores.
18.8% of Mexico’s foreign direct investment in the energy sector comes from this country. While five states concentrate half of Canadian investment: Zacatecas, Mexico City, Chihuahua, Sinaloa and Coahuila.
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