Mining Investment to Surpass US$17.5 Billion From 2022 to 2024

The Mexican Mining Chamber (CAMIMEX) is foreseeing investment to rise up to US$17.5 billion from 2022 to 2024 in the sector. Moreover, the Mexican government is establishing a Plan B for lithium exploration in case it needs the support of the private sector. 

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Mexican Government Has a Plan B for Lithium Exploration 

The federal government is looking to develop the Sonora Plan in 2023 and harness lithium exploitation under the lead of Litio para México (LitioMx). However, authorities created a backup plan to include the private sector in case support is needed. Nonetheless, the plan might not be as viable as the government expects it to be.

Trafigura, eFactor to Promote Sustainable Mining Supplies 

Leading player in the commodities market Trafigura announced it will launch a pilot program to help small and mid-size enterprises (SMEs) finance their operations and promote sustainable practices aligned with ESG criteria. The program will be carried out together with the Mexican fintech eFactor Network and other financial institutions.

Grupo Mexico’s Operations Unaffected by Peruvian Political Crisis 

Amid a political crisis taking place in Peru, several mining companies reported that their operations suffered from blockades and damaged communications infrastructure. In this scenario, the Mexico-based mining company Grupo México reported its Peruvian projects remained largely unaffected. 

Torex Gold Reports Strong Q3 Financial Results 

Torex Gold has announced its financial and operating results for 3Q22, reporting a robust quarter with very healthy margins. Company officials noted that in light of the results, Torex is on track to achieve its 2022 operating and production targets.

Altaley Mining Identifies Viable Production Plans for 2023 

The Canadian company Altaley Mining reported that it identified solid and deliverable production plans for 2023 for both of its Mexican assets, Campo Morado and Tahuehueto. The corporation’s new CEO, Mike Struthers, reviewed the mining projects and backed the plans. 

Southern Empire Resources Acquires La Loma Property 

Canada-based gold company Southern Empire Resources announced it acquired the La Loma property in Durango. Along with Southern Empire’s other gold projects in northern Mexico, the acquisition strengthens the company’s belief in the presence of Carlin-type gold deposits in the area, which hold microscopic gold particles within pyrite in sedimentary rocks.