Mexico mining market size is anticipated to reach USD 2.30 billion in 2030 and grow at a CAGR of 3.7% from 2025 to 2030. Growth of the sector is due to growing demand for precious metals, which have the largest share of the market. In addition, the increasing need for metals like copper, zinc, and lead used for numerous applications in electrical & electronics are also driving the market growth further.
The mining industry is receiving quick exposure to technological innovations like automation and digitization. Some of these include the implementation of automated tunnel drilling and drilling equipment, autonomous vehicles, drone, and smart sensors, which are meant to improve the efficiency and control of mining operations and minimize wastage.
For example, in July 2022, Fresnillo, the world’s leading silver producer, ordered underground mining equipment from Eprico. The order includes Boltec and Cabletec rock reinforcement rigs, Boomer face drilling rigs, Simba production drilling rigs, Minetruck haulers, and Scooptram loaders.
By industry, the segment of non-metallic minerals is expected to exhibit the highest growth rate during the forecast period. The growth of the segment is due to extensive uses of the products such as kaolin, silica, and feldspar across industries. Increased investments in the end-user industries of the products are driving their demand and hence, mining.
Mexican metal prices experienced a sharp drop between January and April 2020 due to a drastic fall in demand as a result of the COVID-19 outbreak. Prices improved sharply after April 2020 due to the resumption of manufacturing production with social distancing regulations.
To be competitive, mining firms are making long-term supply agreements with consumers. In addition, the firms utilize derivative agreements to hedge them against market risk. These variations subject the firms to the opportunity loss risk and mark-to-market fair value adjustments. These agreements may involve forward sales, futures contracts, call options, and other derivative contracts.
Mexico Mining Market Report Highlights
Precious metals registered a revenue percentage of over 47.0% in 2024 in the market. This market share is due to increased consumer demand for trendier and more expensive goods
Mexico possesses extensive gold and silver reserves. Mexico, as of 2021, was 7th globally, when it comes to gold production. In 2021, just like other major gold-producing countries globally, Mexico’s gold production decreased as well, and declined to 100 tons in 2021 from 101.63 tons in 2020
The non-ferrous had the second-largest market share. Its growth is due to rising penetration of metals in electric vehicles (EVs). Rising EV manufacturing further drives demand for metals like lead, copper, zinc, and molybdenum
Key Mexico Mining Company Insights
Some of the major players in the Mexico market for mining are Grupo Mexico and Industrias Peñoles
Grupo Mexico is Mexico’s largest mining conglomerate with huge operations throughout the Americas. Copper is its core focus, in addition to producing silver, gold, and zinc. The core mining operations of Grupo Mexico are based in Mexico, with an emphasis on Sonora, backed by its vertically integrated business, including rail shipping and infrastructure.
Industrias Peñoles is a leading force in Mexico’s mining industry and one of the world’s largest refiners of silver. Concentrating on metals such as silver, gold, and zinc, Peñoles owns many mines across Mexico, with major operations in states like Durango and Zacatecas.
Recent Developments
In September 2024, Arzyz Metals, Mexico’s largest aluminum producer, reported a USD 650 million expansion of its plant in Nuevo León. The investment is targeted at raising the production capacity to respond to the growing demand for aluminum in diverse sectors, helping to boost the state’s industrial development and creating new employment opportunities. The venture is part of regional development targets, receiving extensive support from the local authorities, and represents consistent growth and investment patterns in Mexico’s mining and metals sectors.
Asia Broadbread (AABB), America based resource company, in March 2022 revealed that it acquired Zodiac Gold Mine project in Buen Pais. Jalisco, Mexico. The company’s acquisition would assist Asia Broadbread (AABB) to penetrate the mining market in Mexico.
Table of Contents
Chapter 1. Methodology and Scope
1.1. Market Segmentation & Scope
1.2. Market Definition
1.3. Information Procurement
1.3.1. Information Analysis
1.3.2. Market Formulation & Data Visualization
1.3.3. Data Validation & Publishing
1.4. Research Scope and Assumptions
1.4.1. List of Data Sources
Chapter 2. Executive Summary
2.1. Market Snapshot
2.2. Segmental Outlook
2.3. Competitive Outlook
Chapter 3. Market Variables, Trends, and Scope
3.1. Market Lineage Outlook
3.1.1. Global Mining Market Outlook
3.2. Value Chain Analysis
3.2.1. Mining Trends
3.3. Regulatory Framework
3.4. Market Dynamics
3.4.1. Market Driver Analysis
3.4.2. Market Restraint Analysis
3.4.3. Market Challenges
3.4.4. Market Opportunities
