Nearshoring: Booster for the Mining Sector

Phenomena like nearshoring and electromobility are driving the mining sector as both will require more minerals to maintain the expected production levels, says Banxico. Additionally, Torex Gold is on track to meet its full-year operating guidance. The company backed its statement with strong 1Q23 financial and operating results.

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Nearshoring, Electromobility Drive the Mining Sector 

According to Banxico, mining showed better performance in 1Q23 than in 2022 due to the boom in electromobility and nearshoring. "The production of electric cars has generated demand for some products. At the same time, nearshoring has generated demand from the construction industry," said Alejandrina Salcedo, Director General of Economic Research, Banxico. 

The New Circular Economy Law for Mexico City 

In this article, Alfonso Caso, Managing Partner, AOSENUMA, discusses the progress and significance of Mexico's legal framework for the circular economy. He highlights the draft decree and the Circular Economy Law of Mexico City as crucial steps toward promoting sustainability and minimizing waste generation.

Torex Reports Strong 1Q23 Results

Torex Gold is again on track to meet its full-year operating guidance, according to the company’s 1Q23 financial and operating results. In addition, Torex announced that the Media Luna project has made significant progress in scheduling and budgeting.

Minera Titán to Bring Investment Opportunities to Parral: CLUMIN

According to the Mining Cluster of Chihuahua (CLUMIN), the development of Minera Titán in Parral will bring with it the development of local suppliers, knowledge and technology transfer, investment in community infrastructure, training and education programs and will even contribute to the promotion of tourism and culture. 

Is the Lithium Industry Really Moving Forward?

Mexico's plans for the lithium industry face uncertainty due to national policies, infrastructure challenges and skepticism from experts. The government's nationalization of lithium exploration and exploitation has raised concerns about its ability to boost commercial production. Private companies question the government's approach and call for increased private sector involvement. Additionally, experts suggest that Mexico should focus on battery production, rather than solely on lithium extraction. 

Technical Consultations on Mining Reform to Start Soon
Technical consultations are being prepared together with the Mexican and Canadian governments and their mining industries to discuss the Mining Reform. Industry leaders hope these consultations will clarify legal issues related to controversial changes following Congress’ rapid approval.