Mexico Government Nationalizes Lithium Mining
A reform to the federal Mining Law that nationalizes lithium will take effect this week after it was approved by the Senate on Tuesday. The law declares that lithium “is an asset of the nation and its exploration, exploitation, extraction and use is reserved in favor of the people of Mexico.” No new concessions for […]
Tax Compliance in Mexico
SOURCE: NAPS Whether you’re already in Mexico or thinking of making the move, you’re probably already familiar with the many benefits of manufacturing in Mexico. However, with those benefits come new tax laws you’ll need to navigate. Here’s what you need to know about taxes in Mexico and how you can stay compliant. MAQUILADORAS AND TAXES: […]
Mexico headline inflation seen staying high in early April, reports Reuters
SOURCE: Reuters MEXICO CITY – Mexican inflation likely slowed very slightly during the first half of April, but remained well above the central bank’s target, a Reuters poll showed on Wednesday, reinforcing bets the monetary authority will continue raising interest rates. The median forecast of 10 analysts surveyed was for inflation to reach 7.60%, marginally […]
Mexico: Manufacturing and Services PMIs rise in March
The Mexican Institute of Financial Executives (IMEF) Manufacturing Purchasing Managers’ Index (PMI) rose to 52.3 in March from February’s 51.1. As such, the index moved further above the 50.0 no-change threshold, signaling a faster improvement in business conditions compared to the previous month. The reading was driven by faster expansions in new orders, production and […]
LG Magna e-Powertrain celebrates groundbreaking of new facility in Mexico
New manufacturing plant to produce electric powertrain components for General Motors from 2023, creating an estimated 400 new jobs. LG Magna e-Powertrain, a joint venture (JV) between LG Electronics (LG) and Magna International Inc. (Magna), celebrated the groundbreaking of its new plant in Ramos Arizpe, Mexico. Scheduled for completion in 2023, the new facility will […]