The Mining Sector’s Progress and Prospects

The mining sector supports 192 other economic sectors in Mexico, reveals a study conducted by the Mexican Mining Chamber (CAMIMEX) and the Center for Research and Teaching in Economics (CIDE). Acknowledging the importance of the mining sector to North America’s economic resilience, the sector is calling for closer collaboration to improve regulations and support for the sector. 

According to Pedro Rivero, President, CAMIMEX, the value of mineral-metallurgical production increased by approximately 20% to MX$312 billion (US$16.7 billion). The rise was primarily driven by higher metal prices, despite production volumes remaining relatively flat. Rivero detailed the industry's fiscal contributions, which amounted to MX$45 billion in taxes and duties, and confirmed that the sector ranks as the sixth-largest generator of foreign currency for the country.

During Mexico Mining Forum 2025, Rivero also pointed to an improvement in Mexico's competitiveness, as reflected in the 2024 Fraser Institute survey on mining investment attractiveness. He noted that Mexico recovered to the 49th position globally after falling to 74th in the previous year. Within Latin America, the country rose from ninth to sixth place. Acknowledging that there is still a long way to go in continuing to improve sector performance, Rivero noted the importance of fostering public-private collaboration.

Rivero highlighted that the mining sector's extensive value chain includes 26 supplier sectors, 123 sectors that use mining products as inputs, and 43 associated service sectors like logistics and transportation. According to CAMIMEX and CIDE’s report, 75% of the inputs used by the mining industry are from domestic sources. 

The study's main objective was to evaluate the relevance of the mining sector as a strategic axis for the country's productive development. "It is important to mention that mining today places us in a special position in this discussion we are having with the United States regarding the need to have a self-sufficient North America, a solid North America, and how mining is key to getting us there,” Rivero stressed. 

The study also underscores the sector's role in creating high-quality employment, with 416,000 direct jobs and a total of 3 million direct and indirect jobs. The average monthly remuneration in the mining sector is MX$26,115, a figure that is 2.4 times the minimum wage and 3.8 times above the welfare line.

The study details the mining industry's role as a major consumer of national goods and services. Diesel fuel is a significant input, representing around 25% of the sector's consumption, followed by inputs from the wood industry at 11%, and 10% from the energy sector. A crucial aspect of this supply chain is its impact on smaller businesses. Rivero stressed that while large suppliers are a component, over 80% of the mining industry's suppliers are Mexican small and medium-sized enterprises (SMEs), making the sector a major promoter of local business development, particularly in the remote regions where mines typically operate.

The study also illustrates how the value of specific minerals is multiplied as they move through the production chain. For example, silver, with an initial value of MX$66 billion, generates a final value of MX$1.94 trillion, a 30-fold increase, as it is incorporated into 14 industries, including automotive parts and electronics. Similarly, copper’s initial value of MX$71 billion is multiplied 186 times to a final value of over MX$13.2 trillion across 72 economic branches such as electrical systems and motors. Manganese shows an even greater multiplication effect; its initial value of MX$0.9 billion grows to over MX$55.5 billion as it is processed through the value chain.

To unlock the sector's full potential, Rivero noted that a public policy is required that promotes responsible mining, regulatory efficiency, technological innovation, and community development. The report concludes that mining represents 4.73% of the national GDP and is a key component for 10 industries that together contribute 17% of GDP. "To unlock the mining sector's potential, which is crucial for the North American supply chain, we need an efficient public policy. We are working to improve the understanding between authorities and the industry to achieve regulatory efficiency, technological innovation, and community development with employment and technical training,” Rivero concluded.