Most Popular
1. It’s a New Macro, the Gold Market Knows It, But Dead Men Walking Do Not (yet)- Gary_Tanashian
2.Stock Market Presidential Election Cycle Seasonal Trend Analysis - Nadeem_Walayat
3. Bitcoin S&P Pattern - Nadeem_Walayat
4.Nvidia Blow Off Top - Flying High like the Phoenix too Close to the Sun - Nadeem_Walayat
4.U.S. financial market’s “Weimar phase” impact to your fiat and digital assets - Raymond_Matison
5. How to Profit from the Global Warming ClImate Change Mega Death Trend - Part1 - Nadeem_Walayat
7.Bitcoin Gravy Train Trend Forecast 2024 - - Nadeem_Walayat
8.The Bond Trade and Interest Rates - Nadeem_Walayat
9.It’s Easy to Scream Stocks Bubble! - Stephen_McBride
10.Fed’s Next Intertest Rate Move might not align with popular consensus - Richard_Mills
Last 7 days
Nvidia Numero Uno in Count Down to President Donald Pump Election Victory - 5th Nov 24
Trump or Harris - Who Wins US Presidential Election 2024 Forecast Prediction - 5th Nov 24
Stock Market Brief in Count Down to US Election Result 2024 - 3rd Nov 24
Gold Stocks’ Winter Rally 2024 - 3rd Nov 24
Why Countdown to U.S. Recession is Underway - 3rd Nov 24
Stock Market Trend Forecast to Jan 2025 - 2nd Nov 24
President Donald PUMP Forecast to Win US Presidential Election 2024 - 1st Nov 24
At These Levels, Buying Silver Is Like Getting It At $5 In 2003 - 28th Oct 24
Nvidia Numero Uno Selling Shovels in the AI Gold Rush - 28th Oct 24
The Future of Online Casinos - 28th Oct 24
Panic in the Air As Stock Market Correction Delivers Deep Opps in AI Tech Stocks - 27th Oct 24
Stocks, Bitcoin, Crypto's Counting Down to President Donald Pump! - 27th Oct 24
UK Budget 2024 - What to do Before 30th Oct - Pensions and ISA's - 27th Oct 24
7 Days of Crypto Opportunities Starts NOW - 27th Oct 24
The Power Law in Venture Capital: How Visionary Investors Like Yuri Milner Have Shaped the Future - 27th Oct 24
This Points To Significantly Higher Silver Prices - 27th Oct 24
US House Prices Trend Forecast 2024 to 2026 - 11th Oct 24
US Housing Market Analysis - Immigration Drives House Prices Higher - 30th Sep 24
Stock Market October Correction - 30th Sep 24
The Folly of Tariffs and Trade Wars - 30th Sep 24
Gold: 5 principles to help you stay ahead of price turns - 30th Sep 24
The Everything Rally will Spark multi year Bull Market - 30th Sep 24
US FIXED MORTGAGES LIMITING SUPPLY - 23rd Sep 24
US Housing Market Free Equity - 23rd Sep 24
US Rate Cut FOMO In Stock Market Correction Window - 22nd Sep 24
US State Demographics - 22nd Sep 24
Gold and Silver Shine as the Fed Cuts Rates: What’s Next? - 22nd Sep 24
Stock Market Sentiment Speaks:Nothing Can Topple This Market - 22nd Sep 24
US Population Growth Rate - 17th Sep 24
Are Stocks Overheating? - 17th Sep 24
Sentiment Speaks: Silver Is At A Major Turning Point - 17th Sep 24
If The Stock Market Turn Quickly, How Bad Can Things Get? - 17th Sep 24
IMMIGRATION DRIVES HOUSE PRICES HIGHER - 12th Sep 24
Global Debt Bubble - 12th Sep 24
Gold’s Outlook CPI Data - 12th Sep 24

Market Oracle FREE Newsletter

How to Protect your Wealth by Investing in AI Tech Stocks

Huichol Indians Protest Silver Mining Plan at Sacred Mountains

Politics / Gold & Silver Stocks Feb 23, 2012 - 01:38 AM GMT

By: Dr_Jeff_Lewis

Politics As the rise in the price of silver over the past few years makes an increasing number of formerly prohibitively expensive excavation sites appear much more attractive to mining concerns, environmental and cultural issues remain to be resolved before global silver production can rise in earnest to meet growing demand for the physical metal.


A classic example of the clash between mining interests and cultural traditions played out last week in the mountains of central Mexico near Real de Catorce, a former silver mining town located several hundred miles north of Mexico City. 

Huichols Object to Mining of Sacred Mountain Sites

Many native Huichol Indians from 22 communities gathered in Real de Catorce along with supporters to trek in traditional ceremonial dress and colorful headgear to the top of the nearby Cerro del Quemado Mountain from February 6th to the 7th.

The Huichol led group met to protest in a customarily prayerful way the joint interest of Canadian mining company First Majestic Silver and the Mexican mining company Real Bonanza in stripping two special mountains, El Cerro del Quemado and El Cerro Grande, of their silver reserves that are home to some of the natives’ most sacred ceremonial sites.

Although the established Huichol practice of ceremonial animal sacrifice has prompted some criticism of their cultural observances, their famously reverential use of the entheogenic cactus peyote has attracted considerable favorable attention, especially among anthropologists and individuals interested in taking that medicine for spiritual purposes.

First Majestic and Real Bonanza Make Attempts to Compromise

For their part, Vancouver based First Majestic and their Mexican partner, Real Bonanza have promised the locals that they would use safer modern mining techniques and offer social programs. The mining project is for 15 years and will have the company invest $100 million.

First Majestic, which has several other silver mining operations in Mexico, plans on investing over $10 million to renovate an abandoned hacienda near Real de Catorce, that will serve as a their offices and as a base for their social projects. The company has already opened a school to teach the local residents how to make silver jewelry.

This is one example of the headwinds miners will face as the investment demand for silver continues to steadily unfold.

By Dr. Jeff Lewis

    Dr. Jeffrey Lewis, in addition to running a busy medical practice, is the editor of Silver-Coin-Investor.com and Hard-Money-Newsletter-Review.com

    Copyright © 2012 Dr. Jeff Lewis- All Rights Reserved Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2022 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in