The world has seen growing global demand for critical minerals due to several factors, including the new global geopolitical landscape, artificial intelligence, and new technologies.
According to the Mexican Chamber of Mining (Camimex), this demand stems from the energy transition, digitalization, and the restructuring of international supply chains. These trends have placed these resources at the center of the new global economic geopolitics.
Global Demand for Critical Minerals
Other drivers include the rapid electrification of industry and the digitalization of global supply chains.
At the same time, advanced technologies such as artificial intelligence and data centers require more of these inputs. In particular, semiconductor manufacturing, robotics, and national defense demand a constant supply of key metals.
For example, these sectors make intensive use of permanent magnets, copper, and battery materials. In fact, such components are indispensable for optimizing energy conversion, electrical storage, precision motion, and thermal management.
Business Opportunities in Mexico
In this context, Camimex believes that Mexico has a historic opportunity to establish itself as a strategic partner within the North American region. It ranks among the world’s leading producers of 12 minerals considered essential for industrial and technological development.
In light of the upcoming review of the United States-Mexico-Canada Agreement (USMCA), it is essential to promote mechanisms that strengthen regional competitiveness and security of supply. Additionally, these should boost the attraction of investment in the value chain for critical minerals.
To this end, Camimex proposes the following:
- Incorporate a specific chapter or annex on mining and critical minerals into the USMCA that recognizes the strategic nature of these resources for regional economic integration.
- Promote incentives for mineral exploration, including mechanisms that stimulate private investment in existing concessions and enable the expansion of geological knowledge of the national territory.
- Establish incentives for the production of essential and critical minerals through schemes that strengthen legal certainty, streamline regulatory processes, boost financing, and promote the development of strategic infrastructure.
- Ensure safe conditions for mining operations and regions, as an essential element for operational continuity and attracting new investment.
- Identify priority projects for the extraction, refining, and processing of critical minerals, establishing specific actions to promote their development and consolidation.
- Resume the granting of new mining concessions, particularly in areas with strategic potential for the country’s economic security and industrial development.
- Strengthen and modernize the mining legal framework to create competitive conditions that allow Mexico to fully capitalize on the opportunities arising from regional integration and the growing global demand for critical minerals.