📰Mineras will give Mexico a ‘shine’: will invest their highest amount from 2013

This year, the mining industry in Mexico plans to invest 5 one thousand 34 millions of dollars, the highest amount since 2013 Y 42.5 percent more than in the 2020 Y 8 percent more than what was disbursed in the 2019, before COVID, according to the annual report published by the Mexican Mining Chamber (Camimex).

At press conference, Fernando Alanis, President of Camimex explained that the increase is linked to the accelerated increase in the price of metals.

“Traditionally when prices increase it is unavoidable that the injection of capital, you have to take care that they are about projects in a mature stage, if there is exploration, although it is coming down ", Alanís explained.

In the first semester of 2021, gold averaged a price of one thousand 807.1 dollars per ounce, 9.7 percent higher than that registered in the same period last year, while silver rose 61 percent and copper 65.7 percent.

"It is unfortunate to say that the price of gold and silver benefits from this situation, but we do foresee that due to the third wave their prices may still rise in a few months ", he explained.

Added that, despite the COVID-19 pandemic, in the first semester of 2021 They were generated 40 one thousand 895 new direct jobs in the mining industry, thanks to the fact that they managed to return to operate after the two-month suspension that they lived for not being considered at the beginning of the pandemic as an essential activity.

“I could even say that since the reopening of the sector when it was named essential by the Mexican government, four or five new mining companies have entered., all despite the health emergency ", highlighted.

Alanís emphasized the momentum that mining has given to the country's economic recovery, Therefore, he highlighted the need for the government to support the growth of the sector and generate confidence in investors..

“We have a working table with the government where our objectives are to encourage exploration, clarity in the issuance of the indigenous consultation law, improve security conditions and resume the issuance of mining concessions to reactivate investment in exploration ", express.

The latter, in reference to the fact that President Andrés Manuel López Obrador has rejected the issuance of new mining concessions.

He explained that if there were a public policy that encourages mining activity, the activity would grow 0.5 percentage points over the 2.9 percent of what weighs in the Gross Domestic Product, which is equivalent to a 3 percent.

“This may mean the generation of more than 50 thousand direct jobs and 300 thousand indirect, in addition to an investment of 24 one thousand 200 million dollars in new mines in the next six years ", added the president of Camimex.

Goes up 1.2% mining collection

Fernando Alanís commented that they paid in 2020 about 30 one thousand 374 million pesos in taxes, a hike of 1.2 percent compared to what was reported in 2019, despite the impact generated by COVID-19.

"Mining is one of the sectors that contributes the most through the payment of its taxes, in the last five years mining has paid about 161 one thousand 390 millions of pesos", highlighted.

To detail, the companies affiliated to the Chamber report that they paid last year around 24 one thousand 205 million pesos in income tax, while 2 one thousand 576 million was in surface rights and 3 one thousand 593 million in new rights.

He highlighted that the payment of industry taxes represents 5.3 times the budget of expenses of Zacatecas and almost 2.3 times that of Sinaloa, states of high mining activity.

Efrain Alva, Head of the Extractive Activities Coordination Unit of the Ministry of Economy, He pointed out that the conditions are in place to invest and Mexico needs those investments.

"We will work together so that they materialize. We must capitalize on what was obtained last year with the recognition of mining as an essential activity ", commented.