- Almaden (AMM) is pleased by recent progress with its legal matters in Mexico
- In April 2019, a lower court in Puebla State issued a decision that Mexico’s mineral title system is unconstitutional
- The lawsuit used Almaden’s mineral claims to make its arguments, which the company is contesting
- The Collegiate Appeals Court of Mexico decided that it cannot issue rulings on Almaden as an interested party
- The court has instead referred the case directly to the Supreme Court of Justice of Mexico
- The company expects the Supreme Court to rule on the matter within four to eight months
- Almaden Minerals mines for gold and silver in Mexico
- Almaden (AMM) is up by 1.59 per cent and is currently trading at C$0.64 per share
Almaden (AMM) is pleased by recent progress with its legal matters in Mexico.
The company is announcing that the Collegiate Appeals Court of Mexico has issued a decision that it does not have the authority to rule on the appeals filed by the Mexican Congress, Senate, Secretary of Economy, mining authorities or Almaden as an interested party.
The court has instead referred the case directly to the Supreme Court of Justice of Mexico.
The company expects the Supreme Court to rule on the matter within four to eight months.
In April 2019, a lower court in Puebla State issued a decision that Mexico’s mineral title system is unconstitutional because consultation with indigenous communities is not required.
The lawsuit was brought against the Mexican government and could have consequences for mineral titles throughout the country, but it used Almaden’s mineral claims to make the argument, which the company is contesting.
In January 2021, the Supreme Court issued a decision concerning a mining property in North Puebla State owned by a company unrelated to Almaden where the constitutionality of Mexico’s mining laws had been challenged.
The Supreme Court, in a unanimous decision, confirmed that Mexico’s mining laws are constitutional.
Almaden’s Mexican constitutional law attorney has advised that the January decision will have to be taken into account by the court when considering this case.
Almaden Minerals mines for gold and silver in Mexico.
Almaden (AMM) is up by 1.59 per cent and is currently trading at C$0.64 per share as of 1:50 pm ET.
