Sheinbaum Halts New Concessions But Supports Mining Development

While Sheinbaum confirmed that no new mining concessions will be granted and is seeking more environmental accountability, the administration is actively prioritizing and promoting mining.

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No New Mining Concessions: Claudia Sheinbaum

President Claudia Sheinbaum announced that no new mining concessions will be issued under her administration, reaffirming her commitment to stricter environmental oversight in the mining sector. At her morning conference, Sheinbaum discussed Plan México and agreements with mining companies, while explaining why the previous administration’s proposal to ban all open-pit mining was ultimately withdrawn.

Mining Is Back in Fashion: Marcelo Ebrard

As the mining sector experiences a resurgence amid shifting global geopolitical tensions, Mexico needs to strengthen its mining capabilities and reduce dependence on imports, says Marcelo Ebrard, Minister of Economy.

AIMMGM, FIFOMI Partner to Boost Training in Mexican Mining

The Mexican Association of Mining Engineers, Metallurgists, and Geologists (AIMMGM) and the Mining Development Trust (FIFOMI) signed a collaboration agreement to promote technical and continuous training for mining SMEs and personnel.

Gold Falls as Trump Announces Israel-Iran Ceasefire

Gold prices dropped sharply in overnight trading on June 24 after US President Donald Trump unexpectedly announced a full ceasefire agreement between Israel and Iran. The metal fell by up to 1.6%, losing over US$50 to trade at US$3,316/oz. Despite this pullback, gold is still up more than 25% year-to-date, buoyed by ongoing geopolitical uncertainty and central bank purchases that have strengthened its appeal as a safe haven.

Torex Gold to Acquire Reyna Silver

Canada-based precious and base metals miner Torex Gold. entered a definitive agreement to acquire Reyna Silver for over US$26 million. The acquisition will result in Torex Gold gaining access to two district-scale projects in Chihuahua, as well as to projects in the United States.

Sandvik Secures US$45.1 Million Equipment Order From Mexico

Sweden-based heavy equipment manufacturer Sandvik was awarded an underground mining equipment order valued at over SEK 430 million (US$45.1 million). The company will start delivering the equipment in 2025.