MEXICO CITY, May 26, 2026 (GLOBE NEWSWIRE) -- The following is a statement by PODER:

This information is related to the worst environmental disaster in the history of metal mining in Mexico: the 2014 spill of 40 million liters of toxic waste in the Sonora and Bacanuchi rivers by Buenavista del Cobre, a mine owned by Grupo Mexico, affecting more than 22 thousand people. Government authorities have yet to abide by court rulings to repair the damages caused and accumulated over time, and Grupo México has used legal obstacles to avoid taking preventive measures and paying for the damages.

According to the Ministry of the Environment (Semarnat) in Mexico, the total cost of the spill amounts to MORE THAN ONE BILLION (USD). The company alleges it agreed to an arrangement with the government to provide around 86,500 million USD. This amount will contribute to the installation of a hospital and a few water treatment plants that can separate heavy metals. There is NO public information to confirm this. The amount committed is the bare minimum to remediate the damages, and to prevent future disasters that could add to the current social and environmental damages. Accoridng to this source, the company has proposed confidentiality clauses on issues related to the communities’ rights, making reparations contingent on this.

This will continue to have repercussions for its investors.

In the context of the 2026 AGM of Grupo Mexico and Southern Copper Corporation, affected communities urge its investors to:

• Be vocal in linking executive compensation for the new CEO Leonardo Contreras Lerdo de Tejada to ensuring that the company operates in accordance with an assessment of risks and benefits for all workers, surrounding communities, value chains, and shareholders, including a preventative plan to identify, mitigate, communicate, and address current social, environmental, and climate negative impacts.
• Require a clear plan, with a concrete timeline and designated funds, to actively and efficiently repair the damages to the people, environment, biodiversity, land, and territory caused by the 2014 toxic spill, and ensure that these continue until reparation is achieved.
• Ensure that existing and new tailings dams meets the necessary safety standards to prevent it from overflowing, rupturing, or leaking into aquifers or rivers, and that all liquids discharged by the company are properly managed, leaving only clean, potable water.
  

We urge you to ensure that the company keeps its investors informed with transparency and accountability, that it transforms verbal commitments into concrete actions on this distressing, painful and shameful case, and to prevent further ones.

The affected communities have asked Grupo Mexico's investors to address the issue, be vigilant of greenwashing, and fulfill their obligation to respect human rights.

PODER is a corporate accountability and human rights NGO accompanying the affected communities. https://poderlatam.org 

Contact Information: comunicacion@poderlatam.org