Mining Investment in Mexico Rises Slightly in 2024: CAMIMEX

Investment in Mexico’s mining sector rose by 2.1% in 2024 compared to the previous year, reaching US$5.06 billion, according to the 2025 Annual Report by CAMIMEX. Although the figure exceeded the US$4.96 billion invested in 2023, it fell short of the US$5.13 billion originally projected.

CAMIMEX highlighted that most of the growth focused on expansion and maintenance activities, rather than on new developments. “This moderate increase reflects the mining industry’s continued commitment to Mexico and underlines the importance of improving competitiveness to boost investment, particularly at key points in the global economic cycle,” said Pedro Rivero González, CAMIMEX President.

Exploration investment, however, dropped by 11.5%, from US$452.9 million in 2023 to US$437.7 million in 2024. The decline is attributed to regulatory hurdles and legal uncertainty. A major factor was the halt in new concessions by the federal government, along with the 2023 Mining Law reform that grants exclusive exploration rights to the Mexican Geological Survey.

Despite the investment challenges, mining-metallurgical production value rose by 19.6% in real terms, from MX$261 billion in 2023 to MX$312 billion in 2024, driven by higher international metal prices. However, employment in the sector fell slightly by 0.1%, from 416,875 to 416,663 workers.

The chamber also revealed that over US$6.8 billion in potential investment for new projects is on hold pending environmental permits. Accelerating the approval process could boost the national economy.

Rivero reiterated that mining can play a key role in Mexico’s economic development, but doing so requires legal certainty and public policies that foster investment. “We firmly believe that strengthening rule of law, ensuring legal clarity, regional security, and a comprehensive mining policy are essential to unlocking the full potential of this industry,” he said.