Mexico Mining Forum Echo Takes the SpotlightBy Paloma Duran | Thu, 08/26/2021 - 14:57
Mexico Mining Forum ECHO brought together key industry leaders and stakeholders in a two-day event organized by Mexico Business, where the future of the industry, its challenges and opportunities were the main topics discussed. Highlights include Fernando Alanis, President of CAMIMEX, and Efraín Alva Niño, General Director of Technical Support and Head of the Extractive Activities Coordination Unit of Ministry of Economy.
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While it is true that Mexico’s mining industry remains a major asset to the country, industry experts agree that it has lost some of its former sheen. Through combating misinformation, establishing dialogues, protecting the environment and sharing many benefits, Mexico can begin to close the gap.
Although environmental and community protection policies are not new for the mining industry, it is a fact that they are undergoing a unique transformation, from being a principle-based issue to a matter of best practices and corporate policies that require follow-up. “It is no longer just about having good practices written down on paper, but companies now need to demonstrate what they are doing and follow-up,” said Paola Hernandez Villalvazo, Chief Compliance Officer at America's Mining Corporation. “Compliance is not just about documenting under certain systems, but managing risks.”
Over the past 12 months, Mexico has developed exploration investment activities aimed at shaping the future of exploration in the country. Some of these activities can translate into investment opportunities, while others can be seen more like a challenge for the industry.
To exploit and take advantage of the country’s attractiveness, Mexico needs to implement strategies, priorities, processes and make technology choices aimed at obtaining a successful exploration.
Financing options available to mining companies will influence their strategies and decision making in the coming years, however, development of alternative solutions can introduce a change to companies’ operational strategies.
As the world’s number one silver producer, Mexico’s potential is boosted by a bullish market and growing demand. To make optimal use of this opportunity, long-term exploration, successful operation and regulatory certainty need to be up to par. MAG Silver and Fresnillo’s Juanicipio project is gearing up to play a key role in the industry, making good on this promise.