Riviera Maya, Q.R. — Mexico’s Ministry of Environment and Natural Resources says there was no expropriation or confiscation of Vulcan Materials’ assets. The Ministry clarified that the land and maritime terminal remain the property of the company.
Regarding the news article published on March 28 about an alleged “confiscation” of Vulcan Materials facilities and legislative actions in the United States, the Government of Mexico makes the following clarifications:
There has been no expropriation or confiscation of Vulcan Materials’ assets in Mexico. The properties, including the maritime terminal, remain the property of the company, the Secretaría de Medio Ambiente y Recursos Naturales reported in a statement.
The measures taken correspond to the restriction of extractive activities resulting from the declaration of the “Felipe Carrillo Puerto” Protected Natural Area, in accordance with Mexican law.
The Mexican government maintains an open and good-faith dialogue with the company to find solutions that provide legal certainty and guarantee environmental protection.
Since it is not a confiscation and the maritime terminal continues to be owned by the company, and since an open dialogue is maintained with the company, this case would not fall under the assumption of the proposed U.S. legislation referred to.
In short, the actions of the Mexican State do not constitute an expropriation, violate international agreements, or imply a closure to dialogue. Mexico is a country open to investment, but also a country that upholds its environmental legal framework.
Mexico is a country open to investment, but also a country that enforces its environmental legal framework.
The renamed Calica property (now Sac-Tun), is located a few kilometers south of the city of Playa del Carmen in the heart of Riviera Maya.
