The number of mining projects in Mexico dropped from 1,218 in 2022 to 762 in 2023, distributed in 26 states of the country.
Mexico is one of the main producers of silver, copper and other minerals.
Where are the main mining projects?
- Sonora: 205.
- Chihuahua: 92.
- Durango: 95.
According to the Mining Chamber of Mexico (Camimex):
- 259 projects are in exploration stage.
- 73 in production stage.
- 33 in development stage.
- 391 projects are in postponement.
- 6 operations are reported to be closed.
Mining projects
Of the total number of projects, 522 correspond to precious metals, 100 to polymetallic minerals, 55 to copper, 14 to iron ore, 20 to lithium and the remainder to other metals and minerals.
This drop in the number of projects is due to a restrictive policy in the granting of new concessions, the rejection and/or delay of environmental permits, together with the reforms to the Mining Law where the exploration activity for the discovery of new deposits will fall to the State through the Mexican Geological Service with a limited budget for exploration.
One of the most significant pending issues is the limitation in the granting of new concessions and permits, which has had a significant impact on a 48% reduction in investment in exploration activities, which is the basis for the continuity of existing projects, as well as new mines in the future.
Mineral deposits
In Mexico, some activities are reserved to the State and, according to the Constitution, these activities are not considered monopolies (Article 28).
The State is also the owner of salt mines and mineral deposits, the exploration and exploitation of which require a concession.
To obtain a concession, foreigners must settle in Mexico and sign an agreement with the Secretaría de Relaciones Exteriores (SRE) whereby they agree to be considered as nationals and waive the diplomatic protection of their country of origin («Calvo Clause»); in case of a dispute with the Mexican State, it can be resolved only in Mexican courts.
In the restricted zone (100 km from the border and 50 km from the beach), no concessions are granted to foreigners.