Mexican mining engineers expect project reactivation with regulation of legal reforms

 

The Mexican mining industry hopes that once the regulations for the mining law are published, new concessions will be granted, according to Ricardo Moreno Trousselle of the country’s mining engineers, metallurgists and geologists’ association (AIMMGM).

The granting of mining concessions has been frozen since President Andrés Manuel López Obrador took office late 2018.

"We hope that after the regulation is drawn up in the technical work groups, it will be perfectly clear how it is going to operate and other concessions will become available for new projects or for exploration at mines currently operating," Moreno, who is the general coordinator of the XXXV International Mining Convention 2023 to be held in October in Acapulco, said in response to a BNamericas question during a press conference (in photo).

Reforms to various laws that govern mining came into effect at the beginning of May, sparking a six-month period to finalize the regulations, which are being drawn up by the business sector together with the economy ministry in technical work groups.

The AIMMGM representative said that currently operating mines that have their concessions continue normally and there are some projects that are about to start because they already had titles. However, he warned that the absence of new concessions is especially affecting exploration.

“Suppliers within the mining industry are participating in the modifications that some mining companies are making to improve productivity, improve their costs and reduce lost time with the improvement of some equipment. That is where the suppliers are participating, optimizing current mining operations,” Moreno said.

“What we know is that investment interest has fallen but so far companies are maintaining their exploration and mining plans until the regulations are released,” he added.

Mexico is the world's largest silver producer and a major copper and gold producer.