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D E C E M B E R / J A N U A R Y 2 0 1 8
D
espite the occasional problems
with security, Mexico is still
viewed as an attractive country
in which to explore for minerals and build
mines. Its political environment remains
favourable towards mining as do geological
environments for a variety of metals.
Over the years, Mexico has been world's
largest, or nearly the largest, silver pro-
ducer; however, gold is equally important
as BMI Research notes that, by value,
silver accounts for 17% of Mexican pro-
duction while gold accounts for 31% at
125 tonnes in 2016. Indeed, gold has been
mined in Mexico for over 500 years and
there appears to be a great deal more yet to
be discovered. Base metals are also impor-
tant with copper accounting for 19% in
value and zinc at 9%, according to BMI.
"We forecast Mexico's mining industry
value to increase from $15.7 billion in 2016
to $17.8 billion by 2020, averaging a 3.3%
annual growth. This growth will be largely
in line with regional peers," BMI said in a
report.
In addition to the metals noted above,
Mexico's lithium industry is just getting
started and may prove to be strong eco-
nomic contributor in the future.
Like other mineral projects around the
world, companies active in Mexico are
also gradually coming out of the four-
year downturn in the mining and mining
investment sector. Consequently, the com-
panies summarized below are now able to
more easily finance projects and get busy
in the field.
Mexican metal output has benefited
from the decline of the peso's value in rela-
Mexico still holds its allure
for exploration and mining
by Ellsworth Dickson
Underground Rehabilitation – Installing
platforms and ladders at the SilverCrest
Metals historic Las Chiapas Mine in Sonora,
Mexico. Photo Courtesy SilverCrest Metals
Inc.
