Issue link: http://resourceworld.uberflip.com/i/734523
o c t o b e r / n o v e m b e r 2 0 1 6 www.resourceworld.com 13 The report goes on to say that there are 267 mining companies with foreign capital operating in Mexico, managing a portfolio of 927 projects. Of those 267 companies, 173 are headquartered in Canada, 44 are headquartered in the US and 13 in China. Of those 927 projects, ~595 projects are associated with precious metals. Most are exploration stage projects; only 11% are in production. Mexico and Canada's long tradition of partnership in the mining sector was recog- nized in the report that outlined that while 60% of Mexican production is in charge of national companies like Peñoles and Grupo México, 285 companies with foreign capi- tal produce the remaining 40%, with an investment of over $25 billion in the last five years, and over 850 mining projects in operation. Of these, 210 are funded by Canadian capital, almost 75%. The Mexican Federal Government's message in the report expressed its com- mitment to support the mining industry's consolidation and growth, by "…creating the best possible conditions for investment in each stage of the mining process. It has made substantial progress in strengthening our competitiveness through substan- tive reforms, responsible macroeconomic policy and an industrial policy focused on developing geological knowledge of the country. All this contributes to promote the sustainable development of the min- ing sector, generating economic and social well-being within a framework of respect for the environment". In Where to Invest 2015, Ranking of Countries for Mining Investment, a study by the firm Behre Dolbear, Mexico is ranked as the world's fifth "best destina- tion for investing in mining". Alain Charest, Country Manager and Senior Geologist for Evrim Resources, spoke at 2015's Mexican Mining Forum in Mexico City. He suggested that Mexico must learn how to attract Canadian investors once again. To do this, a radical transformation is necessary. The Mexican Mining Forum summarized Charest's talk saying, Charest, "pointed to a time 30 years ago when the mining industry already transformed itself to seek to curb a trend in dwindling prof- its. He pointed to China as the largest gold producer in the world, which produces 13 billion ounces a year. However, only one Chinese gold mine could be considered big since most mines are very small. He encour- aged mining companies in Mexico to see the potential of smaller mines, since larger deposits have been exploited. This move- ment must come from major companies so that exploration companies change their focus to smaller prospects, given the poten- tial to increase gold and silver resources in Mexico in this way." LeFt: Site tour at great panther Silver's guanajuato mine Complex in central mexico where the company operates two underground silver mines – the guanajuato and San Ignacio. the triangular structure was built by Spanish miners in the 17th century at the past-producing Valenciana mine. photo courtesy great panther Silver Ltd. rIgHt: a miner on a scissors lift prepares to install a rock bolt at the guanajuato mine Complex. photo courtesy great panther Silver Ltd.