Mexico’s tax agency is holding over $360-million in tax rebates owed to six Canadian miners, including $230-million to Goldcorp, according to sources and official documents seen by Reuters, escalating the situation into a showdown between the Mexican government and Canadian mining firms operating there.
In a string of meetings, Canadian officials have pressed Mexico to fix the problem, which hamstrings mining companies’ ability to invest in operations and is particularly difficult for smaller, cash-strapped miners and explorers, people familiar with the matter said.
