Mining in Mexico will attract 5,539 million dollars in 2022, an increase of 15.2% compared to 2021, estimated the Mining Chamber of Mexico (Camimex).

In addition to the general reactivation at a national and global level, the increase in the average prices of the main metals has favored the evolution of the value of national mining-metallurgical production.

In 2021, this production reached an amount of 334,782 million pesos (16,516 million dollars), a figure that represented an increase of 19% with respect to the previous year.

The greatest dynamism was seen in industrial metals, a group whose value reached 134.4 billion pesos, an increase of 30.2 percent.

The precious metals group recorded an increase of 15 percent, non-metallic minerals 7.8 percent, and iron and steel minerals rose 3.2 percent.

In particular, gold remained the main product of the national mining-metallurgical industry in 2021, with a 28.4 percent share of total production value, followed by copper with 27.7 percent and silver with 20.4 percent.

Mining

On the other hand, with the economic reactivation and the return to operations, investments in the mining industry also increased from US$3,532.6 million in 2020 to US$4,809.6 million, an increase of 36.1 percent.

Regarding the exploration indicator, it also rose 61.1%, the companies affiliated to Camimex reported an amount of 391.6 million dollars.

For 2022, an increase in investment amounts is estimated, with a total of 5,538.8 million dollars, a figure that will nevertheless be below the level reached in 2012.

With respect to FDI, based on information from the National Foreign Investment Commission of the Ministry of Economy, 31,621 million dollars were captured nationally in 2021, 8.7% more than the previous year; new investments were the item with the most financing, followed by reinvestment of profits.

By economic sector, FDI flows focused on manufacturing industries with 39.7%, followed by mining with 15.2%, followed in third place by financial and insurance services with 15%, and then the transportation sector with 8.8%.

At the end of the period, the mining component reached 4,800.5 billion dollars, the metallic mineral mining subsector presented an increase of 2,832 million dollars, a figure 4.5 times higher than that recorded in 2020.

Mining-related services increased from 497.4 million dollars in 2020 to 571.2 million dollars in 2021.