
Plan Mexico promises reactivation of mining sector

In addition to major infrastructure initiatives, the five-year public-private investment program Plan Mexico, presented by President Claudia Sheinbaum this week, includes incentives and mixed investment projects for the mining sector.
The final section of a preliminary version of the plan, which details the goals and actions for each strategic sector, emphasizes the need to replace 20% of copper wire and spring imports through joint ventures. It also highlights the development of graphite, zinc, barite, manganese and tungsten. Mixed investment schemes for lithium are also part of the proposal.
The plan specifies that the ministry of economy (SE) must reform the mining law within 100 days to enable private exploration and establish a regulatory framework distinct from concessions for open-pit mining.
Various industry organizations had previously raised these concerns with authorities, deeming them critical for revitalizing a sector that significantly contributes to GDP.
Within three months, the SE also plans to mandate the inclusion of social impact statements in all mining-related activities.
Additionally, the ministry aims to create a joint venture to produce copper rods, a flagship project of Plan Mexico. This venture will encompass smelting, refining and the construction of a wire rod and cable plant in Sonora, recognized as a pro-mining state.
By 2027, the ministry intends to implement a strategy for exploring strategic minerals, securing supplies and establishing a fund to benefit mining communities.
Environment ministry Semarnat is tasked with reducing processing times for environmental impact assessments by 2025 to facilitate project advancement.
An economy ministry spokesperson did not respond to BNamericas when asked to provide details of these actions.
According to the draft plan, Grupo México is expected to announce an investment under the Sonora Plan for clean energy in the coming weeks. However, a company spokesperson could not immediately offer specifics.
Mining chamber Camimex also did not respond to requests for its views, while a representative of the association of mining, metallurgical and geological engineers (AIMMGM) stated that more information was needed before commenting further, noting that "general outlines are still forthcoming."
Despite this, industry stakeholders who accessed the document expressed optimism on LinkedIn regarding the plan's mining goals and actions.
Juan Dobarganes, a geological engineer and director of the consultancy Geotecx in Guanajuato, wrote: “One very good thing that we hope will be approved is that private companies will once again carry out mining exploration."
"However, it is not clear how the different schemes or concessions for open-pit mining will be [structured], but the essential thing is that this type of mining is not prohibited per se, for which sufficient environmental and social conditions must be set so that they can comply.”
Alejandro Gracida, a geologist from Sonora, added: “for us as miners, it includes excellent news: mining exploration can be carried out by private individuals; it will not be exclusive to the Mexican geological service [SGM].
This change will be made in less than 100 days. Also, in less than a year, the environmental impact assessment will be easier to obtain. This is excellent news for mining exploration in our country,” he added.
The executive branch and other authorities must still confirm these actions and provide further details, which could help reinvigorate the mining sector.
During Sheinbaum’s term, which began on October 1, the mining industry has faced challenges due to policies freezing concessions and slowing down permit processing. The May 2023 reforms, which granted exclusive exploration rights to the SGM, further restricted private participation and hampered mineral exploration.
Additionally, the approval of increased special and extraordinary mining royalties – from 7.5% to 8.5% and from 0.5% to 1.0%, respectively – has raised the tax burden on mining companies, negatively affecting investment prospects.
Subscribe to the leading business intelligence platform in Latin America with different tools for Providers, Contractors, Operators, Government, Legal, Financial and Insurance industries.
News in: Political Risk & Macro (Mexico)

Banxico cuts interest rate to 10%, signals more aggressive moves in 2025
The monetary authorities unanimously decided to cut the key rate for the fourth consecutive time by 25 bp.

Will Mexico build a China tariff wall?
A 35% tariff on textile imports is aimed at Chinese products and signals support for US moves to curb Beijing's influence in the region, an expert ...
Subscribe to Latin America’s most trusted business intelligence platform.
Other projects
Get key information on thousands of projects in Latin America, from current stage, to capex, related companies, key contacts and more.
- Project: Jadresic (ex Parinas) substation and Jadresic - Taltal transmission line
- Current stage:
- Updated:
14 hours ago
- Project: Río Dulce 1 - Rd1C hydroelectric plant
- Current stage:
- Updated:
12 hours ago
- Project: Zoraida
- Current stage:
- Updated:
16 hours ago
- Project: Tres Quebradas wind farm
- Current stage:
- Updated:
12 hours ago
- Project: Washington Capital Solar Park 3 photovoltaic park
- Current stage:
- Updated:
13 hours ago
- Project: New Monseñor Sanabria hospital (Puntarenas)
- Current stage:
- Updated:
15 hours ago
- Project: San Alonso thermal plant
- Current stage:
- Updated:
17 hours ago
- Project: Villa Ángela V Solar Park
- Current stage:
- Updated:
3 days ago
- Project: Altos de Cazucá cable car (Cazucable)
- Current stage:
- Updated:
11 hours ago
- Project: Concession Lot Paranapanema
- Current stage:
- Updated:
17 hours ago
Other companies
Get key information on thousands of companies in Latin America, from projects, to contacts, shareholders, related news and more.
- Company: Empresa Portuaria Iquique  (EPI)
-
State-owned Empresa Portuaria Iquique (EPI) engages in the administration, operation and development of the Port of Iquique, in northern Chile's Tarapacá region (I), including t...
- Company: Puerto Lirquén S.A.  (Puerto Lirquén)
-
Puerto Lirquén is a multipurpose terminal used by import and export companies and shipowners. Located in Concepción Bay, in Bío Bío region (VIII), Puerto Lirquén was created in ...
- Company: Guyana Energy Agency
-
Guyana Energy Agency (GEA) is a corporate entity responsible for all matters relating to the energy sector in the Republic of Guyana. It is tasked with ensuring the rational and...
- Company: Volio & Trejos Asociados S.A.
- Company: Compañía Minera del Pacífico S.A.  (CMP)
-
Compañía Minera del Pacífico S.A. (CMP), the mining arm of Chilean iron ore and steel group CAP S.A., engages in iron ore production with properties in regions II, III and IV. I...
- Company: Agencia de Promoción de la Inversión Privada - PROINVERSIÓN  (PROINVERSIÓN)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: Fertecnica G S.A.S.  (Fertecnica G)
-
The description contained in this profile was taken directly from an official source and has not been edited or modified by BNamericas researchers, but may have been automatical...
- Company: El Espino SpA  (El Espino)