El Limón-Guajes led the ranking of the main gold mining units in Mexico in 2024, informed the Mining Chamber of Mexico (Camimex).
This complex is located in the state of Guerrero, belongs to Torex Gold and produced 452,520 ounces of gold.
Mining continues to be relevant for the Mexican economy. The country has a wide variety of metals and minerals. Among them are silver, gold, copper, zinc and lead. Fluorspar, manganese and barite also stand out. This diversity drives the development of the sector.
The country’s potential is based on a rich and complex geology. As a result, large deposits have been formed throughout the country. In addition, Mexico has a skilled labor force.
Gold mining units in Mexico
In second place was La Herradura, a unit of Fresnillo plc located in Sonora, with a production of 360,600 ounces of gold.
Then, in third place was Peñasquito, owned by Newmont, which produced 299,000 ounces in Zacatecas.
Gold has two qualities that make it unique from other commodities. First, it can be stored safely, without deterioration, and at low cost. Second, it maintains its function as a store of value. Throughout history, it has gone from being a decorative item to becoming a standard of exchange and savings.
The next three largest mining units in Mexico are: Distrito Mulatos (from Alamos Gold, in Sonora, with 205,000 ounces), Los Filos (Equinox Gold, in Guerrero, with 170,370 ounces) and Camino Rojo (Orla Mining, in Zacatecas and with 136,750 ounces).
Precious metal
Today, gold is still essential. It is part of the official reserves of many countries. It also retains its relevance in the jewelry industry. Its beauty and scarcity make it desirable, but also its physical properties. It is durable, corrosion resistant and easy to shape. These qualities make it an ideal medium of exchange.
Gold can be found in an almost pure state. This makes it easy to cast and transform into standard units. It is therefore notable for its portability and ease of measurement. Unlike perishable goods such as livestock or tobacco, gold does not deteriorate over time. Thus, it maintains a more stable and reliable value.