Mexico’s mining output fell by 2.7pc in November on an annual basis due to lower production of iron ore, copper, and lead, according to the latest National Statistics Agency (Inegi) data.
The country’s iron ore production declined by 25.9pc to 415,483mt in November 2020, from 560,630mt in the previous year, Inegi indicated in a statement on Friday. Lead output fell by 13.7pc to 13,917mt from 16,128mt and copper production decreased by 7.3pc to 37,835mt from 40,814mt during the same period under comparison.
Zinc production, on the other hand, rose by 3.4pc to 38,874mt in November 2020, from 37,595mt produced in the same month of the previous year.
On a monthly basis, mining production fell by 3pc in November compared to October, Inegi said without disclosing volume.
Mexico’s mining industry lost $4.8bn in revenue after mining companies suspended activities for about two months in 2020 to protect their employees from the COVID-19 pandemic, according to the Mexican Mining Chamber (Camimex). The mining industry reduced its investment in exploration by 25pc last year to $399mn, from $536mn invested in 2019, due to the effects generated by the pandemic.