Alabama-based quarry company, Vulcan Materials, has rejected Mexican President Andrés Manuel López Obrador’s offer to buy its property on the Caribbean coast for $385 million. The company valued the property at $1.9 billion and stated that the offer substantially undervalues their assets. López Obrador had previously threatened to expropriate the property, claiming that the company’s operations, which involve extracting crushed limestone, have damaged the delicate system of underground rivers and caves in the area.
Vulcan Materials refuted these allegations, stating that their operations have not adversely affected underground caves, cenotes, or archaeological sites. They also claimed that some other quarries in the area have been operating unlawfully, specifically supplying materials for the Mayan Train project. The Mayan Train is a tourist train project around the Yucatan Peninsula that activists, cave divers, and archaeologists believe has damaged the caves in the area, which contain some of the oldest human remains in North America.
President López Obrador has expressed interest in the company’s deep-water shipping dock on the property, which is the only one on the coast’s mainland, and has plans to convert it into a dock for cruise ships. He also wants to turn the rest of the property into a natural reserve for ecotourism. Vulcan Materials has accused the Mexican government of using political threats and false allegations to justify converting the property into a tourist destination, rather than a true conservation area. The company believes that the government’s intentions may be focused on commercial tourism and naval operations, including cruise ship activities.
López Obrador has also proposed using the flooded pits on the property, dug out by the company, as swimming pools or an ecotourism area operated by a private concessionaire. These pits are home to crocodiles, a protected species in Mexico. The company’s dock at Punta Venado is crucial for handling shipments for the Maya Train project, which spans 950 miles around the Yucatan Peninsula, connecting beach resorts and archaeological sites. While the train is intended to boost tourism income for inland communities, there are concerns about its feasibility and whether tourists would be interested in using it.
The dispute between Vulcan Materials and the Mexican government highlights the complexities of balancing economic development and environmental conservation in the region. The company maintains that their operations have been lawful and have not caused harm to the environment, while also accusing other quarries in the area of operating illegally. López Obrador’s vision for the property involves transforming it into a hub for tourist activities and cruise ship operations, as well as supporting the Maya Train project. The outcome of this ongoing conflict will likely have significant implications for the future of the region and its natural resources.
