New Earthquake in Mexico

Earthquake warning sirens are currently sounding in Mexico City while the head of the city government has advised that emergency protocols have been activated following a 6.4 temblor in the city of Ixtepec in the southern state of Oaxaca.

Initial reports from the Mexican Seismological authority said the quake struck at 07:53 am local time at a depth of 10 kilometers with an epicenter approximately 12 km north of the City of Ixtepec. This is around 530km south of Mexico City.

Earlier Saturday, Mexico’s southern state of Oaxaca registered at least four earthquakes in the early hours, ranging between a magnitude of 4.1 and 5.8 on the Richter scale.

A total of three earthquakes off the coast of Paredon were recorded by the USGS, at depths ranging from 74.2km to 10km.

The most recent quake was a 5.8 magnitude earthquake at a depth of 74.2km at 10:38 GMT.

Mexico’s National Seismological Service has recorded a total of four earthquakes in as many hours in the Gulf of Tehuantepec off the coast of states Chiapas and Oaxaca.

The country is still reeling from a powerful 7.1 magnitude earthquake which wreaked havoc on the capital Mexico City as well as several other cities in the center of the country on Tuesday.

Over 220 people are confirmed to have died as a result of the tremor, and though rescue operations are still ongoing there is little hope of pulling survivors from the rubble at this stage.

Mexico lies at the meeting point of three major tectonic plates, and it is therefore prone to multiple earthquakes within a short time, as have occurred in recent weeks. Tuesday More than 200 people were been killed after central Mexico was struck by a 7.1-magnitude earthquake that destroyed dozens of buildings, officials said.

The Tuesday quake hit just hours after many in the country took part in earthquake drills, held on the anniversary of the devastating 1985 quake, which killed more than 5,000 people in Mexico City.

Mexico City is situated on a former lakebed, a location that magnifies the effect of earthquakes even if they are located hundreds of kilometers away.

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S. Jack Heffernan Ph.D. Funds Manager at HEFFX holds a Ph.D. in Economics and brings with him over 25 years of trading experience in Asia and hands on experience in Venture Capital, he has been involved in several start ups that have seen market capitalization over $500m and 1 that reach a peak market cap of $15b. He has managed and overseen start ups in Mining, Shipping, Technology and Financial Services.

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