The COVID-19 related lockdowns, which lasted for two months, are likely to decrease Mexico’s mining output by 17pc this year.
The total value of mining production is expected to decline to MXN203bn ($9.4bn) this year, from MXN244bn in 2019, Fernando Alanís, president at the Mexican Mining Chamber (Camimex), told the local media.
Moreover, mining exports are also expected to decrease by 10pc this year due to the COVID-19 related shutdowns in mining operations, Alanís said without disclosing volume. However, mining industry investments could rise by 14pc to $4bn this year, compared to 2019, to develop mining projects, despite the potential fall in the production.
On June 1, Mexico’s mining industry restarted operations after activities were halted for two months to protect its employees from the pandemic. About 370,000 mining workers returned to work in the country after the operations resumed.
Mexico’s mining production decreased by 4.4pc in March this year compared to the same month in 2019, driven by lower demand of coke and iron ore pellets, among other minerals.