Mexican mining industry will stop generating US$2 billion due to COVID-19: Camimex

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MEXICO — The mining industry, which is the sixth currency generator, will stop generating US$2 billion, equivalent to the suspension of exports for two months, warned Fernando Alanís, president of the Mining Chamber of Mexico (Camimex).

Alanís asked the Tax Administration Service (SAT) to return - in the shortest possible time - their balances in favor of US$1 billion, by way of VAT refund, in order to allow companies to have liquidity.

In a press videoconference on the Third Report of the Industrial Covid-19, organized by the Confederation of Industrial Chambers (Concamin), the leader asked the federal authorities to return the mining work as part of production chains and consider the mining industry as an essential activityl, since being an input industry, many sectors could be affected by the reactivation.

The manager stated as well that 70% of the mining industry operates within the 970 municipalities which currently are free of Covid-19 contagion cases.

Source: El Economista