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o c t o b e r / n o v e m b e r 2 0 1 6
MExICO continues
to be prospective
for mineral wealth
by Kathrine Moore
Mining in Mexico began long before Cortés
asked Montezuma to give him gold because
he suffered from an evil heart disease that
only gold could cure. Gold, silver, tur-
quoise, obsidian, jade and opal were used to
make tools, jewelry, art and offerings to the
gods long before the Spanish arrived.
Today, Mexico produces more silver
than any other country; it is the world's
second largest bismuth producer and one
of the world's top 10 producers of gold,
copper and zinc. And though its mining
history dates back over 500, years only
27% of the country's potential mineral
wealth has been explored.
That all adds up to an investment
opportunity. Enrique Gustavo Espinos
Aramburu, Deputy Director of the
Mexican Geological Survey, said in a
February 2016 report on mining in Mexico,
published by ProMéxico, (a Mexican fed-
eral government agency responsible for
economic development), "Since 2005, the
Mexican Geological Survey has detected
700 prospective areas derived from car-
tographic surveys, of which 15% have
become mining allotments, that is, areas
with geological and economic value that
are offered at public tenders for develop-
ment as projects. Systematic mapping
allows us to visualize that there are still
extensive regions with potential, although
they must be further explored with metal-
logenic theories, experience and, above all,
verification in the field."
According to the Mining Chamber of
Mexico, investment in the national min-
ing sector reached $5.2 billion in 2015,
representing a 5.1% increase over 2014,
reversing the downward trend of the pre-
vious two years. The report states that,
"Investments of almost $1.5 billion in new
projects stands out, a figure that represents
an increase of 10% compared with the
previous year."
