Mexico’s mining production dropped by 17.8pc on an annual basis in May caused by a dip in all mineral outputs due to the effects of COVID-19 pandemic.
Fernando Alanis, president of the Mexican Mining Chamber (Camimex) predicted this decrease early in June, in light of suspended operations for about two months to contain the spread the pandemic.
Mexican iron ore production decreased by 13.6pc to 497,216mt in May this year, down from 575,334mt produced in same month last year, according to the latest data released by the National Statistics Agency.
The copper output fell 2.9pc to 37,979mt in May, down from 39,097mt produced in May 2019 while zinc volumes dropped 12pc to 9,900mt in May, down from 11,256mt produced in the prior year period.
In May, Lead production went down by 2.6pc to 9,817mt on an annual basis down from 10,074mt produced in May 2019. The total value of mining production is expected to decline to MXN203bn ($9.4bn) this year, down from MXN244bn achieved in the the prior year, Camimex added.