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

Mexico’s iron ore and copper production fell by 16.7pc and 1.1pc, respectively, in 2020 compared to the previous year, the National Statistics Agency (Inegi) noted on Feb 26.


However, lead and zinc production during the period under review rose by 7.7pc and 11.5pc, respectively, Inegi indicated without disclosing the volumes.


In December 2020, Mexico’s mining output rose by 1pc on an annual basis due to higher production of zinc and lead. The former’s production climbed by 39.9pc to 40,801mt from 29,164mt during this timeframe,  while the latter’s output rose by 11.2pc to 16,191mt from 14,561mt.


Copper production, on the other hand, decreased by 1pc to 39,591mt in December 2020, from 40,389mt produced in the same month of the prior year, and iron ore production declined by 11.2pc to 509,587mt from 573,728mt during this period.


The mining industry reduced its investment in exploration by 25pc to $399mn, last year from $536mn invested in 2019, due to the impact of the COVID-19 pandemic, according to the Mexican Mining Chamber.


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