Mexico miners progressing US$7.4bn project pipeline
Bnamericas - Mexico’s miners are pushing ahead with projects with combined capex of US$7.38bn, according to BNamericas calculations.
The investments will deliver a significant production boost, with combined annual output north of 1Moz gold, 33Moz silver and 301,000t copper by 2026.
The 22 projects will also produce around 100,000t/y zinc and 13,000t/y lead, along with 35,000t/y lithium carbonate by 2026, according to official estimates.
Only projects for which companies have provided an estimated date for initial production are included.
Three projects have dropped off the list after reaching production around the turn of the year.
The biggest, Industrias Peñoles' Capela zinc-silver-copper-lead asset, began producing concentrates in late February, later than the 3Q19 target due to power line delays, while capex was US$31mn over budget at US$334mn.
Southern Copper’s US$87mn San Martín restart began operations in late 2019, contributing 5,837t zinc in the fourth quarter (the mine also produces silver, copper and lead).
Finally, Sierra Metals completed expansion work at its Bolivar mine, which is ramping up to 5,000t/d throughput capacity, the company said in January.