Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Mexico’s mining output rose by 6.3pc in July compared with the same month last year, on higher production of lead, copper, and zinc, according to the National Statistics Agency (Inegi). 


The country’s lead production jumped by 29.4pc to 15,139mt in July, from 11,700mt in the prior-year period, while copper production increased by 12.3pc to 44,120mt from 39,296mt, and zinc output rose by 7.5pc to 20,078mt from 18,675mt during the same period.


On the other hand, iron ore production slipped by 21.1pc to 469,721mt in July from 595,039mt in the same month last year and non-coking coal output fell by 1.5pc to 448,576mt from 455,598mt during the same period, Inegi noted.


Mexico’s mining industry lost $4.8bn in revenue after mining companies suspended activities for about two months in H1 2020 to safeguard their employees from the COVID-19 pandemic, Fernando Quiroga Alanis, president at the Mexican Mining Chamber (Camimex), said last week. He added that the mining industry will reduce its investment in exploration by 25pc to $399mn this year, from $536mn in 2019, due to the pandemic.


Moreover, the Mexican mining industry’s output could fall by 17pc this year, according to Camimex data.


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