The Peñasquito gold mine, located in the Mexican state of Zacatecas, is responsible for almost 30% of national production and generates more than $ 1.9 billion a year, but most of this wealth is in the hands of foreign companies.
According to the Spanish newspaper AS, known as the “New Dubai”, Mexico could consolidate as a gold power in Latin America thanks to this exploration megaproject, which began in 2010. Identified reserves allow the mine to remain operational for at least two more decades.
In addition to gold, the Minas Gerais complex also extracts silver and other resources of high commercial value, contributing significantly to the revenues of the mining sector. However, the property of the mine belongs to the American Newmont Corporation, which holds most profits.
Benefits and economic controversy
According to official data, the mine employs more than 2,800 people, but the unequal distribution of income generated has been criticized. The acquisition of the operation by Newmont in 2019 reinforced the presence of the United States in the geopolitical control of the sector, in a context where gold assumes increasing importance in the electronic industry, the production of scientific instruments and as a global financial reserve.
The weight of this exploration causes international economic interests to directly influence Mexico’s economic position, which, despite the potential of the mine, receives only a fraction of the profits obtained.
The location of the mine, in the state of Zacatecas, places it in the center of a region with strong mining tradition and economic dependence on this sector. For many communities, exploration represents a source of stable employment and access to infrastructure, but also increases pressure on water resources and public services.
Environmental organizations and local groups have been demanding greater transparency on contracts and counterparts agreed with Newmont. They argue that a more significant part of profits be invested in regional development programs, education and mitigation of environmental impacts caused by mining activity.
Environmental Impact on Debate
Large -scale extraction of the peñasquito mine requires the use of chemicals and the massive displacement of rocks. Experts cited by, warn that these practices cause significant damage to the riverways, affect biodiversity and irreversibly alter the landscape frame of the region.
Mexican authorities keep environmental impacts under surveillance, seeking to balance economic benefits with the preservation of natural resources and the well-being of local communities.
Also read:
