Mexico’s (non-oil) mining captured $ 311.5 million of Foreign Direct Investment (FDI) in the first quarter of 2020.
In general, the mining industry in Mexico is dominated by Canadian companies, although there is also a significant Mexican capital involved in some of the most important mines that produce silver, gold and other important metals and non-metallic minerals.
The American presence is represented by Newmont, with its recent acquisition of a large gold mine, and Coeur Mining, both among the eight largest mining companies in Mexico.
Of the total FDI received in non-oil mining in the first quarter, $ 287.7 million was spent on the production of metal metals and the remaining $ 20.6 million on services related to the sector.
Specifically, in the production of metallic metals, Mexico has had ups and downs in the arrival of FDI, with 2,309 million dollars in 2015 and a collapse of 92 million in 2016.
Although in the last four years, FDI in non-oil mining in Mexico has stabilized, with an average of $ 645 million annually, according to data from the Ministry of Economy.
Mining in Mexico
Mexico has a substantial and varied variety of mineral resources and is one of the world’s leading producers of silver, bismuth, antimony, fluorite, graphite, barite, molybdenum, lead, and zinc.
Under the Constitution and applicable Mexican laws, mineral mining activities can only be carried out by the government or, alternatively, by Mexican individuals or corporations, if they are granted a government concession.
Foreign investment, including controlling interests, in Mexican mining companies is permitted by Mexican law, with the exception of any extraction of radioactive minerals. Foreign investment and mining regulations allow foreign investors to have a majority interest in any Mexican company engaged in mining activities during the concession period.
Mexico is one of the most important countries in the world in terms of mining wealth, both for quantity and quality of mineral species, as for its abundance of minerals and the diversity of types of mineral deposits throughout its territory.