The private mining companies grouped in the Mexican Mining Chamber (Camimex) reported that if favorable conditions exist, their members will invest around $11 billion in 2024 and 2025, according to the presentation by the director of the chamber, Karen Flores.
The main concerns of Camimex members are insecurity, labor legislation, the tax regime, land ownership, environmental regulation and political stability.
The lack of favorable conditions caused investors to opt for countries such as Argentina, Chile, Colombia or Peru.
According to the business chamber, the mining industry contributes 4.3 percent of the GDP in 2022. It also employed more than 417 thousand workers, 11,200 were generated in the year. The estimated investment of $11 billion would generate 300,000 new jobs in the next two years.
The estimated investment for 2023, as published by SteelOrbis last July, is $5.21 billion, slightly lower than the $5.26 billion in 2022.
In 2022, 57 percent of mining investment was local (Mexican), 21 percent from Canada and 14 percent from the United States.