Grupo Mexico: need for water infrastructure
Grupo Mexico allocated 35.9 million dollars in Mexico in social infrastructure, highlighting the improvement of water infrastructure for the communities of Cananea and Nacozari.
In its global operations, the company increased its investments in social infrastructure by 97% in 2023 compared to the previous year.
As part of this total, Grupo Mexico invested 45.7 million dollars in Peru and, among its projects there, the progress of the wastewater treatment plant (WWTP) in Ilo stood out.
How were its financial results in 2023? At year-on-year rates, the company reported growth of 3.7% in sales (US$14.385 billion), 1.6% in net profits (US$3.465 billion) and 6.3% in assets (US$32.249 billion).
On the other hand, the company recorded a 1.4% drop in its Ebitda (7.041 billion dollars).
Grupo Mexico
During the second half of 2023, the company experienced a water reduction at the Buenavista operation as a result of the lack of permits it expects to receive to build a pipeline to transport water from the wells to the operations and surrounding towns (approximately 20 km).
By 2024, the company has decided to move water through other pipelines to secure the supply, which will allow Buenavista to operate at full capacity for both copper production and the start-up of zinc operations.
Water wells
Grupo Mexico’s Infrastructure Division offers drilling services for oil and water exploration, energy production services, and participates in engineering activities, procuring construction of infrastructure works, specialized integral engineering services for projects and the operation and maintenance of highways.
Operations are carried out by México Proyectos y Desarrollos (MPD), an entity that owns 100% of Controladora de Infraestructura Petrolera México (CIPEME), Controladora de Infraestructura Energética México (CIEM) and México Compañía Constructora (MCC).
CIPEME has provided services to Petróleos Mexicanos (PEMEX) for more than 50 years, has offshore drilling platforms, and also provides engineering, cementing and directional drilling services and leasing of drilling modules.
It also participates in the drilling of water wells for the mining industry in Mexico.
