Mexico Shows Openness Toward Mining Amid Geopolitical Tensions

The Mexican government has shown a more open stance toward mining, a shift welcomed by mining associations. This change comes in response to the growing global demand for minerals to sustain traditional industries and to support the energy transition. In other news, geopolitical tensions have led to trade restrictions in Canada and the United States, targeting Chinese imports of critical minerals such as gallium, germanium, and super-hard materials.

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Federal Government Shows Openness Toward Mining: AIMMGM
Companies perceive a more open stance toward mining, with the government starting to listen to its main concerns, says AIMMG. Optimism comes despite ongoing challenges, including the Mining Law reform, the potential ban on open-pit mining, and the halt on new concessions.

Abel González Vargas Appointed New President of CLUSMIN

CLUSMIN has unanimously appointed Abel González as its new president, succeeding Jaime Lomelín. González emphasized that his tenure will focus on advancing initiatives aimed at strengthening CLUSMIN's position within Zacatecas' mining industry.

Sheinbaum Demonstrates Openness to Dialogue: Newmont

Newmont stated that Claudia Sheinbaum’s government demonstrates openness for dialogue regarding the proposed increase in mining royalties and the open-pit mining ban. CAMIMEX has emphasized that the approval of any of these reforms would impede billions of dollars in investments over the coming years.

Canada to Impose Tariffs on Chinese Minerals

Canada will impose tariffs on critical minerals from China beginning in early 2025. These measures are designed to limit Chinese trade practices in North America, aligning with the approach of incoming US President Donald Trump. Although the government has not disclosed the full scope of the tariffs, it has indicated that further details will be released soon.

Mining Services Decline but Mining Sector Sees Growth

In October, mining-related services in Mexico saw a significant year-on-year decline of 41.2%, marking the steepest drop since the start of statistical records in 1994. While the oil and gas sector experienced a contraction, the mining sector reported growth, which is expected to continue due to strong mine production and rising metal prices, despite ongoing legal uncertainties.

National Protectionism Gains Momentum Amid Critical Mineral Race

National protectionism is rising, with 72 countries implementing measures to secure access to critical minerals essential for strategic industries, according to global risk intelligence firm Verisk Maplecroft. The firm noted that while countries like Mexico continue to use nationalization to control their mineral wealth, Western economies are adopting a mix of trade restrictions, investment controls, and sustainability requirements to protect autonomy and foster collaboration.