MEXICO CITY — An American quarry company said Tuesday the Mexican government carried out a de facto expropriation of its properties on Mexico’s Caribbean coast.
The decree published in the official gazette shows a strangely patterned nature reserve that follows exactly some of the company's property lines. The company, which was already involved in a dispute resolution panel complaint against the Mexican government, said Tuesday it would use “all available legal channels” to fight the new decree.In papers filed on the case in an international arbitration panel, Vulcan Materials valued the almost 6,000-acre property, located just south of the resort town of Playa del Carmen, at $1.9 billion.
Instead, the company alleged that some other quarries in the area have been operating unlawfully. “Unlike other quarrying sites that have been operating unlawfully to supply the Mayan Train, our operations were duly permitted,” the company said.
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