Mexico's proposed higher mining royalties could block $7bn in investments, chamber says

A proposed increase in mining royalties in Mexico could block more than $6.9-billion in investments over the next two years, the industry's local chamber said on Thursday.

As part of its budget proposal published last week, the Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.

The government plans to bump up two separate royalties from 7.5% to 8.5% and 0.5% to 1.0%, respectively.