October 14, 2010
MEXICO CITY (Reuters) – Mining firms have shuttered a handful of exploration projects in remote areas of Mexico as the industry grapples with threats from drug cartels and rising security costs, Mexico’s mining chamber said on Thursday.
- A d v e r t i s e m e n t
Cartels are threatening mining operations not just in the violent corridor along the U.S.-Mexico border but in isolated, mountainous regions in other parts of Mexico, where traffickers grow marijuana and heroin poppies, the chamber said.
Executives belonging to Mexico’s National Mining Chamber have reported cases of drug traffickers extorting, kidnapping, attacking and selling drugs to their workers.
Theft of precious metals is on the rise in Mexico, executives said. The government also said this week it caught one cartel member selling iron ore to firms exporting to China.
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