Mexico’s mining output rose by 8.9pc in October on an annual basis with higher production of copper, zinc, and lead, the National Statistics Agency (Inegi) said. Compared to the prior month, production rose by 6.6pc.
According to Inegi’s statement on Dec 14, the country’s copper production increased by 12.6pc to 39,471mt in October, from 35,068mt in October 2019. Zinc output was also up 22.4pc to 33,581mt over 27,446mt produced in the same period under comparison while lead volumes rose 19.8pc to 13,892mt, compared with 11,593mt. However, Mexico’s iron ore production fell by 12.6pc to 496,965mt in October, from 568,871mt produced in the same month last year.
According to the Mexican Mining Chamber (Camimex), the domestic mining industry lost $4.8bn due to COVID-19 related shutdowns in April-May. This year exploration investment in Mexico declined by 25pc to $399mn in 2020 from $536mn in 2019 due to the pandemic.