PUBLICATION

Engineering & Mining Journal

AUTHORS

Vanessa Acuna, Matilde Mereghetti

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Mexico Mining 2011 E&MJ Releae

Mining

Mexico

October 10, 2011

In 2010, the Fraser Institute ranked Mexico as one of the most attractive countries for geological business potential, among top global mining destinations, fourth in the world and first in Latin America. To date, only 25% of the national territory has been explored, 70% of which may contain mineral deposits. Since 2009, turnover generated by the mining industry in Mexico amounted to nearly US$15.5 billion, 51% more than in 2009. Indisputable evidence of this new interest in the mining industry is Carlos Slim, the richest man in the world according to Forbes, who will invest $3.6 billion in the sector in 2011. But the future of Mexico’s mining industry is not completely free of concerns. The lack of funding is a consistent limitation to the sector, especially for domestic small and medium mining companies that struggle to raise capital to explore and expand their properties.

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