Drug Cartels jeopardize mining in Mexico

Mining firms have shuttered a handful of exploration projects in remote areas of Mexico as the industry grapples with threats from drug cartels and rising security costs, Mexico’s mining chamber said on Thursday.

Steel giant ArcelorMittal (NYSE: MT) recently lodged a complaint claiming iron was being sacked from its concessions in the western state of Michoacan, Jesus del Campo, an official at the economy ministry, told Reuters.

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