Mining Sector Sees Investment Decrease in 1Q23
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Mining Sector Sees Investment Decrease in 1Q23

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Thu, 06/01/2023 - 09:00

Even though the mining industry saw a backdrop in investment during 1Q23, lithium deposits in Tamaulipas are being evaluated for their potential exploitation. Moreover, GR Silver is expanding its exploration project at Plomosas, while First Majestic is expecting strong silver equivalent production. 

 

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Mining Sector Sees Falling Investment in 1Q23

Foreign Direct Investment (FDI) in Mexico's mining sector fell to US$419 million in 1Q23, representing a 63% decrease compared to the US$1.13 billion recorded in 1Q22. According to a report from the Ministry of Economy, the country registered lower investments in the metallic mining, oil and gas and related-services sectors. 

 

Evaluation of Lithium Deposits in Tamaulipas for Potential Exploitation

The Energy Commission, in collaboration with the Mexican Geological Survey, is analyzing samples to assess the underground mineral potential in the highlands of Tamaulipas. The identification of lithium deposits in Tamaulipas holds promise for the development of a new industry and socio-economic growth in this vulnerable region.

 

GR Silver Mining Expands Exploration at Plomosas in Sinaloa

GR Silver Mining announced the first two drilling results outside the San Marcial area boundary at the Plomosas project in Sinaloa. Positive results and geological knowledge support the continuation of the drilling program, raising expectations for mineralization potential in the southeastern extension of the target area.

 

First Majestic Silver Forecasts Silver Equivalent Production at San Dimas for 2023

First Majestic Silver CEO, Keith Neumeyer, expects an annual silver equivalent production of 12.5 to 14 million oz at the San Dimas mine in Durango for 2023. The company reported solid silver equivalent production in 1Q23, supported by San Dimas and La Encantada mines in Mexico.

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