US Company Accuses Mexico of Expropriating Caribbean Coast Property

Vulcan Materials claims the Mexican government violated trade agreements by declaring its land a protected area.

Mexico's Interior Department issued a decree converting Vulcan Materials' seaport and quarries into a natural protected area, effectively halting the company's operations.
President Andrés Manuel López Obrador had previously threatened expropriation and offered to buy the property for $385 million, which the company rejected.
Vulcan Materials argues the move violates the US-Mexico-Canada free trade agreement and plans to pursue all available legal channels.
The company values the nearly 6,000-acre property at $1.9 billion and asserts its operations have not harmed local underground rivers or caves.
López Obrador aims to transform the area into a tourist attraction, despite concerns about environmental damage and the presence of protected crocodiles in the quarry pits.