The main gold producing companies in Mexico in 2020 are Fresnillo plc, Newmont, Torex Gold and Agnico Eagle.
Next they were located: Alamos Gold, Argonaut Gold, Coeur Mining, Pan American Silver and First Majestic.
The four most important companies in gold contributed approximately 55% of the national mining production in 2020.
According to the Mining Chamber of Mexico (Camimex), Fresnillo plc is expected to consolidate even more with its optimization projects, the start of operations of “Piritas Phase II” in the third quarter of the year, and the start-up in the last quarter of “Juaniciple”.
With this, a reduced contribution is projected in 2021 and greater in 2022, when both projects reach their commercial operation.
Gold producing
Globally, the demand for gold is driven by four markets: jewelry; retail investment; industrial manufacturing; and net official sector. In 2020, these markets accounted for 37.5%, 47.2%, 8.0% and 7.3% of total global demand, respectively, according to the World Gold Council.
Total gold demand in the past year declined 14% compared to 2019, the lowest level of demand since 2009 driven by a combination of the global pandemic with its resulting market lockdowns and a record gold price at a time of slowdown. economical.
According to Metal Focus, the overall macroeconomic environment will continue to be favorable for gold, with numerous political and economic uncertainties likely to lead to equity market volatility and increased risk aversion.
In Mexico, the production of this metal was regularized in 2020, since mining companies are now considered essential, something that did not happen at the beginning of the pandemic, so they closed temporarily, since companies have implemented effective measures to ensure the health of its employees and continue to operate.
Likewise, the “Capela” and “Campo Morado” mines (reopening) could reach their commercial operation and “Piritas Phase II”, “Juanicip”, “Camino Rojo” and “Rodeo” would begin their operation.
The expansion of “Los Filos” is also expected to be completed; however, production could be small as the start-up of the new mines and the expansion of “Los Filos” are projected to be completed between the third and fourth quarters.
