Mexico mining output rebounds to pre-pandemic levels

Mining output in Mexico has rebounded above pre-pandemic levels, despite ongoing COVID-19 challenges.

The pandemic resulted in a fall of around 6.7% in the value of mining production to around US$11bn from US$11.8bn in 2019, daily La Jornada reported, citing preliminary data from industry chamber Camimex.

The drop was partially offset by higher prices of many of Mexico’s main mining products, including gold, silver and copper, in 2H20.

But the mining production volume index at end-January stood at 81.27, compared to 77.39 in March 2020, when Mexico registered its first COVID-19 case, the report said, citing latest Banxico figures.

The index hit a low of 69.13 in April 2020, when the bulk of mines were suspended due to the pandemic.

Operations restarted under new health protocols at the start of June.

Separate mining production data from statistics agency Inegi showed a 2.7% drop for 2020, compared to the previous year, with December output up 1%, in part due to a 39.9% increase in zinc production.