Investments in Mexico’s mining industry slow down

The pace of investments in Mexico’s mining industry is expected to slow this year to its lowest since 2016 , Mexican industry group Camimex said on Wednesday, adding that greater policy certainty was needed to attract more investments .

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Camimex

sees the value of investments rising 7.4% this year to reach USD $5.26 billion after the figure grew 13.8% in 2018 .

“We need public policies that generate trust for investors,” Camimex said in a statement.

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Investor confidence

in Mexico, Latin America ’s second largest economy, has been shaken by some policy moves under President Andrés Manuel López Obrador , a veteran leftist who promotes economic nationalism.

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In particular, his decision to cancel a partly built, USD $13 billion airport for Mexico City and retreat from the prior government’s opening of the oil and gas industry to private capital have raised doubts about how he is managing the economy .

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