Chihuahua Mining Rebounds on Soaring Gold, Silver Prices

Chihuahua’s mining sector closed 2025 with a strong rebound as soaring gold and silver prices pushed production value up more than 25%. The growth reflects favorable market conditions rather than higher output, while the state works with federal authorities to unlock stalled projects and attract new investment.

“In Chihuahua there are projects that are reaching the end of their life cycle, where production is actually declining, and because of metal prices and the exchange rate, we are seeing increases in the value of mining production,”  Rocío Flores, Director of Mining, Chihuahua said during the presentation of the 15th International Chihuahua Mining Conference 2026.

She explained that the increase was not necessarily driven by higher volumes, but rather by the performance of gold, silver, and copper prices in United States and global markets. Flores said the state is in dialogue with federal authorities to unblock mining projects stalled due to permitting issues and mining regulations in order to attract more investment.

“There have already been investments in the deposits, because during the exploration stage there was investment and employment. But once the projects move into operations, we are expecting major investments and significant job creation,” she said.

If permits are granted to mining companies, Chihuahua could attract US$3.5 billion (US$202.3 million) in investment for the production of gold, silver, and copper across key projects.

Mining in Chihuahua

By the end of December 2025, Chihuahua ranked fourth nationwide in the value of mining production, Flores noted. The mining industry contributes about 1% to Chihuahua’s economy, a state that is very strong in export-oriented manufacturing to the United States. The mining sector generates 10,800 formal jobs in Chihuahua.

Between January and October 2025, Chihuahua produced MX$43.588 billion worth of gold, silver, lead, copper, and zinc, compared with MX$34.620 billion in the same period of the previous year, according to the State Secretariat of Innovation and Economic Development.

With the upward trend and record prices for gold and silver toward the end of 2025, Chihuahua is expected to reach the highest production value in its history, surpassing MX$53.653 billion recorded in 2021.

Geopolitics Push Gold and Silver to Record Highs

Geopolitical tensions are increasingly driving precious metals markets. Gold and silver hit record highs in January as investors moved into safe-haven assets amid rising political and economic uncertainty. The latest rally was triggered by US President Donald Trump’s threat to impose new tariffs on Europe over the Greenland dispute, weakening equities and the US dollar while boosting demand for gold, the yen, and the Swiss franc.

Gold climbed above US$4,670/oz and silver surged past US$94/oz, posting year-to-date gains above 30%. Platinum and palladium also advanced. Earlier spikes were linked to the US capture of Venezuela’s President Nicolás Maduro and a criminal investigation into Federal Reserve Chair Jerome Powell, both of which added political risk to markets.