Copper Reaches All-Time High Amid Weaker Dollar, Supply Concerns

Three-month copper prices on the London Metal Exchange (LME) rose 1.7% to US$11,333/mt, and briefly reached an all-time high of US$11,434.50. Experts attribute these hikes to a weaker dollar, supply concerns, and reduced availability in LME warehouses. In other news, AIMMGM’s International Mining Convention returned to Acapulco, highlighting support for the city's recovery while urging federal collaboration to strengthen the sector through private participation.

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Copper Hits Record Highs Amid Supply Squeeze, Dollar Weakness

Copper prices hit record highs on Dec. 3, driven by a weaker dollar, supply concerns, and reduced availability in LME warehouses. Three-month copper on the LME rose 1.7% to US$11,333/mt, briefly reaching an all-time peak of US$11,434.50. 

CAMIMEX 2025 Sustainability Report Highlights ESG Impact

CAMIMEX’s 2025 Sustainability Report details the Mexican mining sector’s ESG activities in 2024, including MX$8 billion (US$440 million) in environmental investments, the creation of millions of jobs, and extensive support for community programs. The report also underscores mining’s role in the national economy and global mineral production.

Expanding Mining Supply Through Technology, AI: ÜBergbau
Carlos Moreno, CEO, ÜBergbau, notes that Mexico remains a global leader in mining cost efficiency, boasting some of the lowest unit costs for copper production worldwide. He attributes this competitive advantage to a robust local supply chain that supports major operators, arguing that the sector is now evolving from a purely transactional model toward developing its own technology and manufacturing capabilities to serve international markets.

Global, Local Firms Seek to Acquire AHMSA’s Assets

ArcelorMittal, Villacero, Cargill Financial Services, Nippon Steel, and four additional companies have formally expressed interest in acquiring the industrial assets of AHMSA and Minera del Norte (MINOSA), which remain under liquidation in the bankruptcy process. Their participation, from both national and international markets, underscores the key value that AHMSA’s infrastructure still holds. 

Endeavour Silver to Sell Bolañitos Mine to Guanajuato Silver

Endeavour Silver announced a definitive share purchase agreement with Guanajuato Silver Company under which Guanajuato Silver will acquire the Bolañitos mine for up to US$50 million. Closing is expected in January 2026.

Osisko Sells San Antonio Gold Project to Axo Copper

Osisko Development has reached an agreement to transfer its non-core San Antonio gold project in Sonora, Mexico, to Axo Copper in a stock-based deal, retaining a 9.99% ownership in Axo.

Waiting for the Turn: Reflections From the Mining Convention 

Diego Torroella, Managing Director, TAKRAF Mexico, expresses cautious optimism following the Mining Convention in Acapulco, noting that while regulatory bottlenecks persist, there is a consensus that permits are slowly advancing. He highlights the resilience of the North American mining ecosystem, emphasizing that cross-border collaboration between Mexican talent, Canadian capital, and US projects is essential for navigating industry cycles and remaining prepared for future growth.

Mexico Mining: Promises vs. Regulatory Reality for Exploration 

Jesus Pablo Dorante, Environmental Vice President, CARAL, stresses that while the government's commitment to resume large-scale mining exploration in 2026 appears promising, the sector must confront the cold reality of severe budget constraints and complex regulatory hurdles. He argues that for exploration to succeed, a rational strategy is needed that addresses five critical areas: managing community expectations regarding the high uncertainty of exploration, navigating the nuances of environmental impact assessments versus preventive reports, securing proper waste management authorizations, and adapting to increasingly strict water use regulations through innovative technologies.

Mexican Miners Urge Collaboration to Secure USMCA Supply Chains

The International Mining Convention, organized by the Association of Mining Engineers, Metallurgists, and Geologists of Mexico (AIMMGM), returned to Acapulco, Guerrero, gathering experts, academia, and stakeholders from across the value chain. The event highlighted the industry's support for the city's recovery following Hurricane Otis and served as a platform to urge federal authorities to collaborate on strengthening the sector through private participation.