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Mexico captures US$ 4,801 M in mining in 2021

Mexico captured 4,801 million dollars of Foreign Direct Investment (FDI) in the mining sector in 2021, its second highest amount since 1999, reported the Ministry of Economy.

Of that total, 1,397 million dollars were captured in the extraction of oil and gas, a record.

Another historical maximum was achieved in the area of ​​services related to mining, totaling 571.2 million dollars.

The remaining subdivisions corresponded to mining of metallic minerals (2,665.5 million dollars) and mining of non-metallic minerals (166.8 million dollars).

According to the Mining Chamber of Mexico (Camimex), 70% of Mexico’s territory has outstanding geological potential for mining, and this potential makes Mexico the fourth largest destination for Foreign Direct Investment (FDI) in the world in the sector and the first destination in Latin America.

Until before 2021, among other factors, investment in the mining industry in Mexico showed a slowdown due to the fact that the current Administration of President Andrés Manuel López Obrador has suspended the issuance of new mining concessions; Likewise, companies in the sector are increasingly obliged to deal with crime by contracting private security companies.

But mining is a highly cyclical activity, which largely responds to the ups and downs of mineral prices, currently with high prices.

The highest amount of FDI in the sector is that of 2013 for a total of 5,744 million dollars.

Mining

According to the SSR Mining company, the mining industry is intensely competitive in all its phases.

More than anything, competition in the precious and base metal mining industry is for mineral-rich properties that can be economically developed and produced; the human resources and technical expertise to find, develop and operate such properties; the labor to operate the properties; and capital for the purpose of financing said properties.

Many competitors not only explore for and mine precious metals, but also conduct refining and trading operations globally.

SSR Mining is a precious metals mining company with four production assets located in the United States, Turkey, Canada and Argentina. The company is primarily engaged in the operation, acquisition, exploration and development of precious metal resource properties located in Turkey and the Americas.

 

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