Mexico Investigating Opposition Governor of Sonora

March 6, 2015

By Jose De Cordoba, Wall Street Journal, 2/5/2015

Associated Press

Associated Press

HERMOSILLO, Mexico—The Mexican government is investigating the opposition governor of the border state of Sonora and his brother for allegedly receiving millions of dollars from a businessman linked to companies that won state government contracts, according to documents seen by The Wall Street Journal.

The Finance Ministry probe concerns at least $3.3 million in payments allegedly received by Miguel Padrés, the brother of Sonora Governor Guillermo Padrés of the conservative National Action Party.

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Western Mexico State Reports New Mine Spill

September 22, 2014

09/21/14 The New York Times

mineCANANEA, Mexico — Authorities in northern Mexico have issued a new alert of a toxic spill in the Sonora River basin from a copper mine operated by Grupo Mexico, the state director of civil protection said Sunday. The agency is urging some 25,000 residents of the area to avoid using the water after local municipalities complained of a toxic plume, said Carlos Arias, civil protection director for the border state of Sonora, where the spill occurred. Arias said the tributaries affected drain into the Bacanuchi River.

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Why no one should freak out about the giant crack that opened in the Mexico desert

August 27, 2014

08/26/14 The Washington Post

John Moore - Getty ImagesOn the issue of the huge gaping chasm that opened in the Mexican desert earlier this month, scientists have assured us this does not herald the end of days.

The chair of the geology department at the University of Sonora, in the northern Mexican state where this “topographic accident” emerged, said that the fissure was likely caused by sucking out groundwater for irrigation to the point the surface collapsed.

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Grupo Mexico to Face Major Cleanup Fees After Spill

August 27, 2014

08/26/14 The Wall Street Journal

MiningMexican authorities are seeking major cleanup fees from mining giant Grupo Mexico S.A.B. de C.V., after an acid spill at a mine in the northern state of Sonora contaminated two rivers and left thousands more without clean water.

“This is the worst natural disaster provoked by the mining industry in the modern history of Mexico,” said Mexican Environment Minister Juan José Guerra Abud on Tuesday.

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Grupo Mexico Goes From First to Worst on Chemical Spill

August 26, 2014

08/26/14 Bloomberg

mineSpilling chemicals into two rivers near the U.S. border is making Grupo Mexico SAB (GMEXICOB) the country’s worst performing major stock.

The shares have lost 5.3 percent, the most among 35 companies on the benchmark IPC index, since an Aug. 6 copper sulfate solution spill at its Buenavista del Cobre mining operation that the company says contains the world’s largest copper reserves. In the preceding month, it led gains among the index’s materials stock to a 16-month high 49.24 pesos.

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Grupo Mexico Shares Fall as Congress Responds to Spill

August 22, 2014

08/21/14 Bloomberg

mineGrupo Mexico SAB, the world’s fourth-largest copper producer, fell the most since March after congress called for a cancellation of the company’s Cananea mine concession following a chemical spill.

Grupo Mexico, billionaire German Larrea’s holding company, fell 2.9 percent to 45.75 pesos at 1:21 p.m. in Mexico City. Earlier it lost as much as 3.9 percent, the most intraday since March 13. The shares have lost 5.3 percent since a copper sulfate solution spill was detected at the company’s Cananea mine Aug. 6 in the northern Sonora state.

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Grupo Mexico Faces Charges Over Acid Spill

August 20, 2014

08/19/14 The Wall Street Journal

MiningMexican environmental authorities are pressing charges against mining company Grupo Mexico S.A.B. de C.V. over an acid spill in northwestern Sonora state that contaminated two rivers and left thousands of people without drinking water.

The federal environmental protection agency Profepa said Monday it has filed charges with the Federal Attorney General’s Office against Grupo Mexico mining units Buenavista del Cobre and Minera Mexico for alleged violations of environmental laws, including possible negligence in the handling of dangerous substances.

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