Mining in Mexico: the New NormalBy MBN Staff | Mon, 07/06/2020 - 18:00
Mining is one of the activities with more tradition and history in Mexico, practiced since pre-Hispanic times. Eighty-six years ago, with the creation of the Union of Mining, Metallurgical and Steel Workers of the Mexican Republic (SITMMSRM) on July 11, 1934, it was decided that this would be a celebration date for miners across the country.
“Success of mining activities should not only be measured by the volume of minerals we produce but by what we can do with those resources,” said Undersecretary of Mining at the Ministry of Economy Francisco Quiroga during the opening presentation of Mexico Mining Forum held in February this year. Mining can make a difference in society by focusing on the industry’s competitiveness and the social challenges it faces, he added. “The (industry’s) goal is social and economic viability in the long term.”
Mining, Core Activity for the Country
The mining industry captured US$3.5 billion in investment in 2019. In exploration, the sector received US$382 million in that same year, according to preliminary data from CAMIMEX. The industry represents 3 percent of the country's GDP, it generates 370,000 direct jobs and 2.3 million indirect jobs. Mining is also essential to supply raw materials to many other industries in the country, from health and electronics to aerospace. In its 1Q20 report, Grupo México said that industrial mining is closely linked to the chemical industry and the construction of electrical, hospital and medical infrastructure, as well as the production of supplies and technological equipment for the health industry.
“Everything we use in life is either grown or mined. If you cannot identify it as the former, it came from a mine. This includes medical equipment, cell phones and cars. To me, mining and agriculture are both essential businesses as these two industries provide the basis for everything else that we use in life,” told to MBN CEO, President and Director of Gold Resource Corporation Jason Reid back in March.
To celebrate the commitment and responsibility of the mining industry to national development and that of mining communities, the Undersecretary of Mining, together with Mexico Business News and Mexico Mining Review, will host the online webinar “Reactivación de la minería ante la nueva normalidad” (“Mining's New Normal: Reactivating the Industry”) this Saturday.
To join the conversation, please register through the following link: