Gold mining production in Mexico was 140,298 kilos in 2024, the third highest volume, according to Inegi data.

Mexico reached its historical maximum in 2021, when it mined 148,502 kilos.

What does gold mining production involve? The extraction of gold-bearing ore and primary beneficiation (crushing and grinding). 

It does not involve other metallurgical processes, such as leaching, smelting and refining.

Gold mining production

Gold is traded globally. Its reference prices are usually set on the London market.

Gold has two main applications: it is used in the manufacture of products and as an investment in the form of bullion.

The volume of gold mining production in Mexico, in kilograms, is shown below:

• 2014: 118,088.
• 2015: 141,263.
• 2016: 132,614.
• 2017: 126,820.
• 2018: 118,359.
• 2019: 108,985.
• 2020: 110,361.
• 2021: 124,776.
• 2022: 148,502.
• 2023: 139,157.
• 2024: 140,298.

World supply

In terms of manufactured products, gold has multiple end uses. Among them, jewelry stands out, which represents the main consumer sector. It is also used in electronics, dentistry, industrial applications, decoration, medals and official coins.

Gold bullion is held primarily as a store of value. They are also used to protect capital against the devaluation of paper assets, especially those denominated in fiat currencies.

In 2024, total gold supply grew by about 1% over 2023, according to information from the World Gold Council. This increase was mainly driven by two factors: mine production and recycling.

On the other hand, global demand also rose 1% compared to the previous year. This increase was mainly due to strong gold purchases by central banks. In addition, a rebound in holdings in exchange-traded funds (ETFs) during the second half of the year contributed to the increase.

What does the metals industry do?

Broadly speaking, mineral metallurgy transforms ores into useful metals.

First, it takes ores extracted directly from the ground. It then subjects them to various processes to separate and purify the metals.

Thanks to this process, metals are obtained that are ready to be used in multiple industries. For example, they are used in the manufacture of cables, pipes, coins and many other essential products.