Mexican miners are getting their coal cheaper than ever before thanks to a deal with the US.
Mexico’s mining industry is one of the most profitable in the world, and a significant part of the countrys economy.
Mining accounts for about 5 percent of the economy.
It is the second largest source of exports after petroleum and coal.
US President Donald Trump has pledged to reduce mining to 5 percent by 2023.
However, Mexico’s miners have complained that they are not getting any of their money back, despite a deal inked last year that included a 10 percent tax on coal exports.
Under the agreement, which was approved by Mexico’s legislature last month, Mexico would get a 5 percent discount on the value of its coal exports, as well as a 20 percent discount for any future coal purchases.
The deal was negotiated in response to the Trump administration’s withdrawal of the US from the North American Free Trade Agreement.
US officials said at the time that the agreement would allow US firms to compete with Mexico in the region.
The US will get back $6.4 billion from the agreement for coal mining.
Mexico, however, is the world’s largest exporter of coal and has been seeking to sell its own coal to the US, with no luck so far.
US coal prices have dropped nearly 80 percent since Trump took office, according to the Center for American Progress, and the Trump presidency has caused a lot of uncertainty in the market.
“It is a very big deal,” David Sargent, director of policy and research at the Center, told Al Jazeera.
“Mexico is a big country with a lot to lose from the US coal program.”
He said Mexico had a lot more than just a deal to make with the Trump Administration.
Mexico is one state in the US that relies heavily on coal.
It exports more than $2.6 billion in goods to the country every year.
However in 2017, it imported just $5.3 billion in coal.
The rest of the goods were sent to China, and China imports more coal from Mexico than any other country.
The Mexican government, in turn, relies on coal for the vast majority of its electricity.
According to the Mexican Energy Commission, in 2017 Mexico exported an estimated $17.3bn worth of coal, and imported $11.2bn worth.
The government said that by the end of 2019, it expected to import $21.3b worth of US coal from the United States.
The countrys electricity generation is one the worlds biggest sources of CO2, and Mexico is the biggest producer of that.
The United States and Mexico have fought over control of the North Sea and its oil resources for decades.
The two nations have clashed over oil prices, which the US has pushed to a record low, while Mexico has pushed for a much lower price.
The Trump Administration has been pushing to cut US coal exports to Mexico, as part of its efforts to reduce the cost of goods from the region to US companies.
The announcement on Tuesday came as Mexico’s economy has been in a severe state of decline for decades due to the effects of a series of pandemics and other global events.
As the economy has weakened, Mexico has been forced to import coal, a cheap, renewable energy source.
The coal is used in the construction of power plants and for manufacturing products like clothing and cars.
The agreement between Mexico and the US came after a visit by the president of Mexico, Enrique Peña Nieto, in February.
Peña, who is also a Nobel Peace Prize winner, has pledged that Mexico will increase its exports of coal.