Contractors Killed At Penoles’ Tizapa Mine
News: Three contractors employed by Industrias Penoles were killed during construction of a ventilation duct at a zinc mine in the small municipality of Zacazonapan in central Mexico, Reuters reports. An additional three contractors employed by Mineria Castellana were injured in the incident, which Penoles stopped short of describing as an explosion , without elaborating otherwise. Penoles added that an investigation had been started.
BMI View: While many of the countries covered in the Americas have stable business environments and sound growth opportunities, Mexico presents investors with enormous risks matched by potential returns. On the positive side, we forecast substantial growth in the country's copper industry, as the end of a three-year strike at Grupo México's Cananea mine is set to herald a significant rebound in copper output. Substantial investment is set to come into the silver sector, which is now the largest in the world. This investment has been lured by Mexico's substantial mineral wealth and generally favourable business environment.