Mexico Jumps 25 Positions in Mining Investment Attractiveness

Mexico rose to the 49th position in the Fraser Institute’s 2024 Mining Investment Attractiveness Index, a significant recovery from its 74th place ranking in 2023.

The jump in the rankings was driven more by an improvement in Mexico's Geological Potential Index, where its score increased from 37.50 to 64.29 points, than by its Policy Perception Index, which rose from 35.02 to 39.78 points. The country's 2023 result was its lowest in 14 years.

According to the survey, mining executives expressed less concern over Mexico's geological database, which saw an improvement of 29 points, as well as over labor regulations and political stability. However, investors reported increased concern regarding regulatory duplication and inconsistencies, which worsened by 13 points, and uncertainty over environmental regulations, which deteriorated by 12 points.

Anonymous comments from survey respondents highlight ongoing concerns, like the 2023 Mining Law reform, which they consider is creating unnecessary uncertainty.  In the same vein, respondents stressed that non-transparent licensing processes and a lack of clarity discourage investment. “Not recognizing the rights acquired under mineral concessions and imposing later environmental laws that limit or make mining impossible creates uncertainty and deters investment,” says an anonymous exploration company Vice President

In Latin America, Mexico's 2024 ranking placed it below jurisdictions such as Guyana at 9th, San Juan, Argentina at 14th, Chile at 29th, and Peru at 40th, but ahead of Brazil at 56th, Ecuador at 61st, and Colombia at 66th. Globally, Finland led the 2024 ranking, followed by Nevada and Alaska.