Mexico Takes Stand Against Iron Ore Smuggling

Mineweb reported that on Monday, the Mexican government began a “major crackdown” on the Knights Templar drug cartel’s illegal iron ore smuggling activity. Mining is reportedly one of the group’s main sources of income.

As quoted in the market news:

On Monday more than 400 federal agents and military personnel raided various storage yards located in the Port of Lazaro Cardenas, as well as other yards located in along the border with the State of Guerreo.  The yards which were raided include El Sauce, Golden Container, Las Parotas, Patio UNO, Global Shipping, PALOS, Zacatula, Manatial, PWI ZHONG, Eagle Rock Mineral and EMMA, according to the Michoacán State Government website

119,000 tonnes of iron ore valued at $15.4 million was seized in the raids along with heavy equipment, as well as trucks, backhoes, conveyers, crushers, and generators.

Click here to read the full Mineweb report.