Tariffs Threats Reshape North American Mining Competitiveness

Amid escalating trade confrontation between Canada and the United States, experts warn that increased tariffs could undermine regional competitiveness and impact the mining sector. In other news, mining leaders gathered at the second Mexico Mining Forum PDAC in Toronto, Canada, to discuss key issues and opportunities for Mexico's future. 

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Trump’s Tariffs on Canadian Steel, Aluminum to Hurt US Companies

US President Donald Trump said that his administration will double existing tariffs on Canadian steel and aluminum imports to 50%, effective March 12, 2025. This action comes in response to Ontario's 25% tariff on electricity exports to the United States. Canadian experts believe these tariffs, alongside others proposed, could disproportionately impact US companies due to their reliance on Canadian raw materials. 

Cerro Caliche Gold Project, Mexico’s Next Gold Mine

Sonoro Gold is advancing the Cerro Caliche gold-silver project in Sonora, aiming for near-term production. The company highlights favorable metal prices, particularly high gold prices, as key factors that enhance the project's appeal to investors. As the political environment seems to be more mining-favorable, the company considers, the project is nearing its final steps toward pouring its first doré bar. 

Ministerial Roundtable: Driving Economic Growth Through Mining

In Mexico, the mining sector provides nearly half a million jobs, offering salaries that are over 33% higher than the national average. However, the industry has contracted over the past six years due to an unclear and unstable legal framework and a lack of incentives. In this environment, states with prominent mining activity like Sonora and Chihuahua must balance their internal objectives with federal policies while addressing the challenges of maintaining investment and fostering sustainable development, says José Jabalera, Vice President of Sustainability, Discovery Silver. 

Building the Future of Conscientious Mining Together

Mining remains a cornerstone of Mexico’s industrial landscape, contributing 8.6% of the country's industrial GDP and supporting over 3 million jobs. The sector also generates more than MX$40 billion (US$1.97 billion) in annual taxes, equivalent to funding multiple major infrastructure projects each year, shared Pedro Rivero, President, CAMIMEX. Despite these contributions, Rivero says that the industry is subject to one of the highest tax burdens, with 56% of revenue allocated to taxation.

Investing in Mexico's Mining Future: Opportunities and Risks

Despite being a global mining hub and a top producer of 17 minerals, Mexico’s mining sector continues to struggle with investment challenges. Attracting capital remains a major concern, as policy uncertainty, permitting delays, and the ongoing suspension of new mining concessions, initiated under the López Obrador administration, continue to stall projects. While the new government signals a more open approach, companies remain in limbo, awaiting clearer regulations and improved conditions for exploration and investment.

Security Challenges and Solutions: A Critical Discussion

Mining companies in Mexico face a complex security environment, requiring strategies to address blockades and internal corruption, while dealing with illicit groups. Companies are adapting their approaches to anticipate and respond to these challenges effectively.

The Future of Mining: Trends and Predictions for 2025-2030

The Mexican mining industry stands at a crossroads, with political uncertainty raising concerns about trade relations with North America. Companies must assess the risks and opportunities in these uncertain times to ensure the continued supply of minerals needed for the energy transition and industrial development.