An Industry Mexicans Can Be Proud ofMon, 10/21/2013 - 12:56
Q: What are the main challenges that the mining industry will face in the coming years and how can they be overcome?
A: Land access is a crucial issue that the industry is working hard to overcome. Furthermore, we need to maintain high environmental preservation standards and press the Mexican mining industry to adopt international best practices that foster reforestation and the treatment and reuse of water. The number of mining companies that reuse treated municipal water is growing, and this contributes to creating an environmentally friendly culture. Another essential matter is promoting Earth Science Programs at the university level, so that the industry can draw on the qualified human capital it requires. The shortage of human talent has been a challenge and we have been working towards overcoming it by promoting these programs to young Mexicans. Another challenge is energy prices. The mining and metallurgical industries have very high levels of energy consumption, and in order for Mexico to remain competitive we need lower prices, so that our operations can be more profitable and we are able to compete with other mining countries. Finally, we are also seeking to continue improving the practices of mining companies in their approach to community relations.
Q: What position will the Mexican mining sector hold in the global industry in five years, and what needs to be done in order for it to reach its objectives?
A: Establishing international best practices throughout the Mexican mining industry has to be the priority. Camimex believes that the industry is investing a lot in training its personnel, technology, and sustainability, which will translate to exponential growth. Mexico’s productivity and international competitiveness will continue increasing, and the industry will attract further investment capital for mining exploration. As a country we have to provide added value to our products, while being a sustainable and environmentally responsible industry. We want Mexicans to feel proud of the local industry.
"Mining development in Mexico is very important for the creation of wealth for the country. Mexico is now one of the cheapest countries in the world in which to manufacture goods, and will benefit from a lot of investment over the next five to 10 years. As long as the government can allow foreigners to invest in Mexican industries in a way that makes sense for all parties concerned, Mexico’s growth will continue.“ Keith Neumeyer, President & CEO of First Majestic Silver Corp
"We are the largest primary silver producer in the world. With the projects we have in our portfolio now, by 2018 it is very possible that we will be the largest silver producer in the world full stop – not just primary. By then we will again have more revenue coming from silver than from gold." Octavio Alvídrez, CEO of Fresnillo
"We feel that Mexico should continue working towards attaining greater competitiveness on all fronts and continue to be mindful of its legal framework and rule of law. The main drivers for the mining industry are currently legal certainty, openness to foreign investors, vast unexplored reserves, political and social stability, a centuries old mining tradition, geographical location, competitive land, and maritime infrastructure, among others." Jorge Ruíz, Head of National Corporate Mergers & Acquisitions Group at Baker & McKenzie