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El Salvador Congress Approves New Mining Law by 57 of 60 Deputies, Allowing State Monopoly and Foreign Partnerships

Dec 26, 2024, 10:32 AM

El Salvador's Congress has approved a new mining law, overturning a ban on metallic mining that had been in place since 2017. The legislation, which contains 35 articles, was passed with the votes of 57 out of 60 deputies. The new law allows the state to have a monopoly on metallic mining and permits foreign companies to partner with the government for extraction activities. This move is supported by President Nayib Bukele's administration, which has promoted the exploration of areas with large gold deposits. However, the decision has faced criticism from environmental groups and the Catholic Church, who argue that mining could lead to increased contamination of water and soil.