Supreme Court Delays Decision on Mining Law Amendments

The Supreme Court (SCJN) postponed the resolution of criteria conflicts and the revision of appeals concerning the Mining Law reform. Experts caution that this delay exacerbates uncertainty within the sector, particularly for companies seeking legal clarity to invest and advance their projects. In other news, CAMIMEX forecast an investment of US$5.3 billion for 2024, representing a 3.4% increase compared to the sector’s expenditure during 2023. 

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Supreme Court Postpones Ruling on Mining Law Reforms

SCJN ordered the delay of the resolution on criteria conflicts and the review of appeals related to the reforms to the Mining Law approved in May 2023. Experts have warned that this delay increases uncertainty in the sector, especially for companies seeking legal certainty to invest and develop their projects.

US, Mexico Impose New Tariffs to Counter Chinese Oversupply

The United States and Mexico have announced joint measures on steel and aluminum imports, aiming to stop China from evading existing duties via transshipment and strengthening the North American supply chain. While the United States celebrated the strengthening of tariffs, experts in Mexico warned that the new measures will also affect Mexican producers.

Sonoro Gold Shows Optimism for Mining Under New Administration

Sonoro Gold is optimistic about the future of Mexico’s mining sector and its Cerro Caliche project, as the incoming government of Claudia Sheinbaum signals a more favorable approach to the industry. This anticipated shift follows previous uncertainties under President López Obrador's administration regarding mining policies, including proposals to ban open-pit mining.

New Ruling Confirms Illegality of Strike at ArcelorMittal

The Fifth District Judge in Labor Matters in Mexico City dismissed the amparo requested by the SNTMMSRM union regarding the strike at ArcelorMittal, citing an unlawful work stoppage.

Mining Law Unviable in the Medium to Long Term: CAMIMEX

CAMIMEX stated that the Mining Law Reform includes provisions considered unfeasible in the short term and impracticable in the medium to long term. Particularly contentious is the provision restricting exploration for new mineral deposits exclusively to the Mexican Geological Service (SGM).

Mexico's Competitiveness to Decline Due to New Tariffs: CANALUM

The aluminum industry's competitiveness will be affected by newly imposed tariffs on aluminum originating from China, Belarus, Russia, and Iran, stated Julio Martínez, President, National Chamber of the Aluminum Industry (CANALUM). Martínez emphasized the importance of maintaining strong relations with the United States, Mexico's primary trading partner, while also focusing on improving Mexico's competitiveness.

The Success of Manufacturing Wellness

Nicholas Falgiatano, Vice President of Marketing, Sandvik Coromant, explains that just as human wellness integrates body, mind, and spirit, Manufacturing Wellness creates robust, reliable, and integrated businesses. This concept shifts the manufacturing focus from merely producing goods to adopting a holistic approach that values people, the planet, and industry.

CAMIMEX Projects US$5.13 Billion in Mining Investment for 2024

CAMIMEX’s 2024 annual report forecasts an investment of US$5.13 billion for the year, indicating optimism despite uncertainties caused by the halt in concessions and permits. The projected investment represents a 3.4% increase compared to the industry's expenditure in 2023, which totaled US$4.959 billion. Jaime Gutiérrez, President, CAMIMEX, stated that the 2024 investments would primarily focus on expansions and modifications of existing mines due to government limitations on new projects.