Crime in Mexico generates an impact on the costs of the mining industry of between 10 and 20 percent of the value of production, reports the Mexican press, citing the president of the Mining Chamber of Mexico (Camimex), Jose Jaime Gutierrez.
Gutierrez said that “insecurity and impunity” in Mexico generates the equivalent of an "additional tax" for companies in the sector because thefts from mining companies are equivalent to between 10 percent.
The figure increases to 20 percent when considering other expenses, including staff and equipment for guards and security.
"I am not exaggerating. It is an additional tax," said Gutierrez.
Data from the Ministry of Economy (SE), recently headed by Raquel Buenrostro, indicate that the value of mining production in 2021 totaled MXN 334 billion, a figure that at the peso-dollar exchange rate of that year, was equivalent to $16.5 billion. This agency is the regulator of mining in Mexico.
The president of Camimex spoke when presenting his 2022 Sustainability Report.