US company accuses Mexico of expropriating its property on the Caribbean coast

  • 📰 wjxt4
  • ⏱ Reading Time:
  • 55 sec. here
  • 4 min. at publisher
  • 📊 Quality Score:
  • News: 32%
  • Publisher: 63%

World News News

Business,Andres Manuel Lopez Obrador

An American quarry company says the Mexican government has carried out a de-facto expropriation of its properties on Mexico's Caribbean coast.

Read full article: Mayor: Jacksonville area should prepare for ‘major wind event’ when Helene hits ThursdayInland counties prepare for what will become Hurricane HeleneAirlines are issuing travel alerts as Helene approaches. What to know about your flight rightsEnglewood High School locked down after ‘rumor of a potential school shooting’; students safe, no threat to school

Mexico's Interior Department issued a decree late Monday declaring the firm’s seaport and quarries to be a natural protected area, in effect prohibiting the company’s activities on its own land.Alabama-based Vulcan Materials said in a statement Tuesday that the move violates the U.S.-Mexico-Canada free trade agreement. It said the measure formed part of “a series of threats and actions by the current administration against our operations.

While the decree states the purpose of the park is to protect local animal and plant species, in fact the seaport and stone quarries are very disturbed areas, do not much resemble a nature reserve and would add little to that effort. In June the American company rejected the Mexican president’s buy-out offer, saying it “substantially undervalues our assets.”

But Vulcan Materials rejected the charge at that time. “Our operations have not adversely affected underground caves, cenotes or archaeological sites. In fact, we have mapped, protected and preserved these valuable resources,” the company said in a statement.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 246. in CA

Canada Canada Latest News, Canada Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

US company accuses Mexico of expropriating its property on the Caribbean coastAn American quarry company says the Mexican government has carried out a de-facto expropriation of its properties on Mexico's Caribbean coast.
Source: ksatnews - 🏆 442. / 53 Read more »

US company accuses Mexico of expropriating its property on the Caribbean coastAn American quarry company says the Mexican government has carried out a de-facto expropriation of its properties on Mexico's Caribbean coast. The government issued a decree declaring the firm's seaport and quarries to be a natural protected area, in effect prohibiting the company's activities on its own land.
Source: AP - 🏆 728. / 51 Read more »