Mining Division Drives Grupo México’s 1Q25 Revenue

Mexico-based base metals producer Grupo México reported a revenue growth of 10.4% in 1Q25. The company attributed its double-digit growth to the production level and efficiency achieved in its mining operations. 

Consolidated revenues for the 1Q25 reached US$4.20 billion, representing an increase of 10.4% compared to 1Q24 and up 9.1% compared to 4Q24. Consolidated EBITDA totaled US$2.21 billion in 1Q25, 12.7% higher than the same quarter of the previous year and 16.4% higher than 4Q24.

The mining division's revenues totaled US$3.35 billion in 1Q25, marking an 18.7% increase compared to 1Q24 and 12.8% higher than 4Q24. This revenue growth was mainly due to increases in the prices of copper, which rose 18.4%, molybdenum, which increased 3%, zinc, which was up 16.2%, and silver prices, which rose 38.4% during the quarter.

The mining division obtained US$1.8 billion in EBITDA, 22.7% higher than 1Q24 and 18.0% above 4Q24. The cash cost net of byproducts showed an improvement of 19.1% compared to 1Q24 and 15.1% compared to 4Q24, attributed to lower production costs and higher byproduct credits. 

“The mining division not only remained as the producer with the lowest cash cost in the industry worldwide, but also experienced remarkable growth in sales and EBITDA, reflecting a positive performance in its operations. This allowed Grupo México to achieve a double-digit growth,” reads Grupo México’s 1Q25 report. 

Consolidated copper production totaled 265,632t in 1Q25, a 0.9% reduction versus 1Q24 and down 0.3% versus 4Q24. This was due to production decreases at Asarco and Minera Mexico, mitigated by an increase in Southern Copper Peru. Molybdenum production rose 8.5% against 1Q24 and 9.8% compared to 4Q24.

Grupo México to Invest in Mexico

The company says it will invest more than US$600 million in 2025 for its open-pit and underground assets, with half of this investment focused on modernizing and updating these projects. 
Grupo México adds that it has several projects in its Mexican pipeline that may contribute to organic growth. These projects, including Angangueo mine in Michoacan, Chalchihuites polymetalic mine in Zacatecas, and the Empalme Smelter in Sonora, are being evaluated for their potential value to stakeholders and the communities in the areas where it operates.