Mexican mining spending seen jumping to more than $5bn in 2021
MEXICO CITY – Mining investment in Mexico is set to climb by about 42% in 2021 to reach more than $5-billion, after tumbling last year during a pandemic-related economic slowdown, the head of the country's mining chamber forecast on Monday.
The sector is expected to make significant gains following investment of only $3.53-billion last year, even though the government ultimately designated mining an essential activity, Camimex president Fernando Alanis told reporters on a webcast news conference.
Mexico's mining sector represents about 2.3% of the country's overall economic activity.
"We think it could be a good year for investment," said Alanis, who until earlier this year was the long-time chief executive of Industrias Peñoles, a top precious metals miner.
Mexico is the world's biggest silver producer, accounting for nearly a quarter of global output, as well as a top ten producer of both gold and copper.
The country is also home to large potential reserves of lithium, used in a wide range of rechargeable batteries and forecast to experience a demand surge later this decade.
Alanis added he expects exploration investment to jump 14% this year to total around $385 million, despite the policy of President Andres Manuel Lopez Obrador to allow no new mining concessions.
While Mexican mining output dipped 1.3% last year in volume terms, the value of the production rose by nearly a quarter to reach some $13-billion thanks to surging metals prices.
Comments
Press Office
Announcements
What's On
Subscribe to improve your user experience...
Option 1 (equivalent of R125 a month):
Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format
Option 2 (equivalent of R375 a month):
All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors
including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.
Already a subscriber?
Forgotten your password?
Receive weekly copy of Creamer Media's Engineering News & Mining Weekly magazine (print copy for those in South Africa and e-magazine for those outside of South Africa)
➕
Recieve daily email newsletters
➕
Access to full search results
➕
Access archive of magazine back copies
➕
Access to Projects in Progress
➕
Access to ONE Research Report of your choice in PDF format
RESEARCH CHANNEL AFRICA
R4500 (equivalent of R375 a month)
SUBSCRIBEAll benefits from Option 1
➕
Access to Creamer Media's Research Channel Africa for ALL Research Reports on various industrial and mining sectors, in PDF format, including on:
Electricity
➕
Water
➕
Energy Transition
➕
Hydrogen
➕
Roads, Rail and Ports
➕
Coal
➕
Gold
➕
Platinum
➕
Battery Metals
➕
etc.
Receive all benefits from Option 1 or Option 2 delivered to numerous people at your company
➕
Multiple User names and Passwords for simultaneous log-ins
➕
Intranet integration access to all in your organisation