Sonora Attracts US$150 Million in Mining, Automotive Investments
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Sonora Attracts US$150 Million in Mining, Automotive Investments

Photo by:   Pepi Stojanovski
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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Thu, 06/01/2023 - 13:46

Alfonso Durazo, Governor of Sonora, announced that investments of US$150 million are about to arrive in the state for mining and auto parts assembly. Specifically, US$120 million will be invested in the mining sector, reaffirming Sonora's status as the country's main producer of metals and minerals. These investments represent development and employment opportunities for the people of Sonora, says Durazo. 

The governor held a meeting with executives from Alamos Gold, a Canadian company dedicated to mining activities, which holds concessions for the Mulatos and Yaqui Grande mines in Sahuaripa. He informed that Alamos Gold has committed to allocating US$20 million to exploration and US$100 million to investment over the coming years. 

"My recognition goes to Alamos Gold, a Canadian mining company that will invest US$120 million in Sonora's mining industry. Our state has extraordinary competitive advantages and one of my commitments is to promote the state's growth through investments and companies," he emphasized.

Meanwhile, Durazo announced that the Korean auto parts company, Kyungshin Corp., will establish operations in Ciudad Obregón. Its US$30 million investment will generate 1,500 jobs in its first phase, with the potential to create 4,000 jobs over four years. The new plant will be dedicated to the production of automotive wiring harnesses.

"The establishment of this plant represents a great opportunity for the people of Cajeme to access high-quality and well-paid jobs. It also represents the trust that entrepreneurs have in our state as a facilitator of investment,” he stated.

Sonora stands out as one of Mexico’s leading mining hubs, thanks to its exploration and production potential, specifically regarding copper and gold. “Sonora is the mining state per excellence, with 36 percent of Mexico's total mining production. It has Hermosillo as the national mining capital in terms of supply,” said Jorge Aguirre, President, Mexican Chamber of the Construction Industry (CMIC) Sonora.

Although other states are coming closer, Sonora is still very much ahead in copper production, with over 80% of the total national output. Copper is a major factor in Sonora maintaining its leading position in the sector, added Aguirre. In addition, Sonora has received international attention for its recently uncovered lithium deposits and policy changes regarding the mineral’s ownership.

Photo by:   Pepi Stojanovski

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