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The Edmonton Journal reports that drug cartels in Mexico are diversifying their sources of income by getting into illegal iron ore mining.
The Edmonton Journal reports that drug cartels in Mexico are diversifying their sources of income by getting into illegal iron ore mining.
As quoted in the market news:
That news served as a wake-up call to Mexicans that drug traffickers have penetrated the country’s economy at unheard-of levels, becoming true Mafia-style organizations.
The Knights Templar cartel and its predecessor, the La Familia drug gang, have been stealing or extorting shipments of iron ore, or illegally extracting the mineral themselves and selling it through Pacific coast ports, said Michoacan residents, mining companies and current and former federal officials. The cartel had already imposed demands for “protection payments” on many in the state, including shopkeepers, ranchers and farmers.
Click here for the full Edmonton Journal article