Mexico Mining Selloff Worsens as Concerns Grow on Law Proposals

Industrias Penoles SAB, Grupo Mexico SAB and Fresnillo Plc extended losses after Morgan Stanley downgraded the stocks on concerns that Mexico’s new congress is considering as many as 11 bills or resolutions that could materially impact mining companies operating in the country.On Tuesday, an initiative from Morena party Senator Angelica Garcia called for increasing surveillance of mining activities and giving greater powers to communities and the government.