The economic interdependence between «developed» and «developing» nations is articulated in intricate financial webs. In regions where resource extraction and mining play pivotal roles, the appreciation of local currencies has far-reaching implications. 🧵 1/13

The rapid appreciation of the Mexican peso in 2023 against the US dollar has driven up the costs of production as well as compromised the competitive advantage of exports. For mining companies who plunder the Global South, the currency appreciation has serious financial results.

FresniIIo, Grupo México (controller of Southern Copper), and Toręx GoId reported higher operating costs this year due to inflation as well as the peso's appreciation, resulting in reduced gross profits and EBITDA for these mining giants. 3/13

Tōrex GoId Resources is a Canadian-based gold mining company operating from the El Limón-Guajes Mine (ELG) in Guerrero, Mexico. With approximately 45% capex exposure to the Mexican peso, for every one-peso movement in the exchange rate, 4/13

Torėx GoId Resources estimates a US $15 million impact on their capital throughout the project life.  5/13

@TallerAhuehuete @AntifaDFW You little Fascists (calling yourselves antifa) gonna tear up DFW when Trump wins if the Democrat cheat factor is overcome?