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Current environment for mining in Mexico is not favorable, affirms director of Mexicana Fresnillo

Mining in Mexico currently has an “unfavorable” environment due to recent government policies, said the executive director of the Mexican precious metals miner Fresnillo, Octavio Alvídrez.

The Government of the Mexican President, Andrés Manuel López Obrador, it has been criticized by the mining industry for its policy of not granting new concessions, as well as for what it has described as unprecedented regulatory delays.

The president further fueled industry concerns by recently proposing to Congress a controversial draft constitutional reform on energy that rejects concessions for lithium, although current mining authorizations in which there is a history of exploration for the metal will be respected.

Fresnillo is the world’s leading producer of silver, and together with the Mexican mining company Industrias Peñoles, it is one of the main companies of Grupo Bal.

When asked about current government policies during a mining meeting in the Acapulco port, Alvídrez pointed out that “we are in an unfavorable environment at the moment.”

Dialogue with the government could lead to modifications of the current policy, he added, without going into details.

The executive recalled that last year the mining sector was initially left out of the Government’s designation as an “essential” industry and, as a consequence, was forced to close for a couple of months due to the pandemic.

But after dialoguing with authorities, he added, mining was deemed essential and mines across the country were allowed to reopen.


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