Mining shares slump over Mexican plan

Shares in London-listed silver miner Fresnillo fell 11 per cent on Thursday amid rising uncertainty about the impact of proposed mining legislation in Mexico.

Mexican lawmakers have proposed a series of bills that could restrict mining in the country, as President-elect Andrés Manuel López Obrador prepares to take power next month following his landslide victory in July.

This week a member of the president’s Morena party proposed a bill that would require the consent of indigenous communities before granting mining concessions on their land.