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First Majestic takes Mexico tax row to arbitration

Mar 3, 2021

Source: https://www.mining.com/first-majestic-takes-mexico-tax-row-to-arbitration/

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La Encantada silver mine in Mexico. (Image: First Majestic Silver Corp.)

First Majestic Silver (NYSE:AG) (TSX:FR) has initiated arbitration proceedings against the government of Mexico, which is seeking more than $500 million from the company in allegedly owed taxes.

The Canadian miner had warned the López Obrador administration last year of its intention to ask the International Centre for Settlement of Investment Disputes to mediate. Such a move triggered a 90-day period for the Mexican government to enter into negotiations with the company.

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La Encantada silver mine in Mexico. (Image: First Majestic Silver Corp.)

First Majestic Silver (NYSE:AG) (TSX:FR) has initiated arbitration proceedings against the government of Mexico, which is seeking more than $500 million from the company in allegedly owed taxes.

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