December 4, 2009
Shares in New Gold, Incorporated dropped 15 percent on November 18, in the wake of the Mexican government's closure of the Cerro de San Pedro mine in San Luis Polosi. The mine is run by Minera San Xavier, a subsidiary of New Gold, which is a Canadian company with operations in Mexico, the United States, Chile and Australia. PROFEPA, Mexico's environmental enforcement agency, closed down the mine following court orders from the Ninth Circuit Administrative Court and the Federal Tribunal of Fiscal and Administrative Justice (SEMARNAT), according to MiningWatch Canada.