Though uncertainty remains about how committed the new government is to the importance of the mining industry to the national economy, the country's leading players are still pursuing a slew of sustainable projects.

Denis Larocque

President & CEO, Major Drilling

For us right now, it is a busy market. When I look at our global operations, we have Canada and the US that attract a lot of money. Mexico is a different market for us in the sense that there is a lot more junior money that is gold-related. Many of our operations are working within the base metal and gold market, whereas Mexico is gold—which is doing better right now. That is why Mexico is doing better for us than some of our other countries around the world. It is a good market, and we have been there for 27 years now. Things look positive for the upcoming year, though they could turn at any time. In 2018, we had 20% more growth than 2017, so it has been good; however, it is not where it used to be. We used to have over 50 drills running, while in 2019, we have about 20 at the most. Therefore, we are still a long way from 2012, which was our busiest year. But things are coming back, and it is better than it was three years ago. It just keeps improving. The minute that financing happens, Mexico will do well. It is hard to predict right now; however, there are positive signs in the sense that the gold price is holding at a good level.


Hector Hugo Miranda

Mexico Country Manager, Orica

The Mexican economy is complex because many variables impact its growth, particularly factors in the energy sector. Elements that are not controlled by the government, such as oil prices, create uncertainty; however, many industries in Mexico are in good shape, and we find it extremely important for the new government to continue offering certainty to continue attracting investors. The government does not give mining the importance it deserves, considering its role in the country's economy. Authorities should show more commitment to developing new projects by offering stability and incentives. I foresee organic growth led by the large miners in the country because medium-sized companies are not in the best shape due to commodity prices. As for ourselves, one of the first big partnerships we established in Mexico was with Goldcorp in its Peñasquito mine, a relationship that has lasted more than 11 years. We have also partnered with it in Canada, Argentina, and Chile. We have also been working together with Grupo Mexico, with whom we are developing a strong relationship.


Leif Lindholm

Vice President Mexico Central America & the Caribbean, Metso

Overall, the mining industry is doing well. In comparison to the downturn a few years ago, it is experiencing a major boom at the moment, though it is still an average working environment for the time being. Mexico is not the biggest mining country in the world and, as such, represents around 10% of Metso's global business. As such, we have exciting projects both nationally and internationally. In Panama, we are working in one of the largest mines in the world, while in Mexico we are working on the expansion of the Buenavista mine. The rest of the projects we collaborate with are smaller. We offer the industry seven global business lines, of which our service segment is most highly demanded. In this area, we provide spare parts, repairs, and maintenance, among other services. Technology is also a major part of our new offerings to give customers life cycle services that reduce their costs and increase their energy efficiency. Energy is expensive in Mexico, and it is important to be efficient. It is necessary to deepen the relationship between technology and mining companies to make sure the industry does not get left behind when it comes to digitalization.


Rafael Gutiérrezl

General Manager, Construcciones Cihuacoat

The Mexican mining industry is going through a time of volatility. The administration is changing so we do not know what the rules will be for the next six years. We are a group of companies that work with the largest operators in the country, including Fresnillo, on drilling projects in the center of the country. We are also collaborating with Minas de Oro Nacional. We have projects in Sonora with Grupo Mexico and in Chihuahua with Agnico Eagle. The company recently finished a project in Zacatecas for Fresnillo and another in El Pilar for Grupo Mexico. In construction, every project is different, which we find this to be a challenge. On the other hand, drilling is more straightforward. Although the company also deals with public projects, mining makes up 95% of its business. In the public sector, we mostly cover the construction of roads for projects that require the use of heavy machinery. While we plan to continue to develop our portfolio of clients, it will be at a slower pace because our aim is sustainable growth and to only take on projects we can really add value to.


Juan Carlos Mazón

CEO, Holding Minero

The Mexican mining industry is going through a time of volatility. The administration is changing so we do not know what the rules will be for the next six years. We are a group of companies that work with the largest operators in the country, including Fresnillo, on drilling projects in the center of the country. We are also collaborating with Minas de Oro Nacional. We have projects in Sonora with Grupo Mexico and in Chihuahua with Agnico Eagle. The company recently finished a project in Zacatecas for Fresnillo and another in El Pilar for Grupo Mexico. In construction, every project is different, which we find this to be a challenge. On the other hand, drilling is more straightforward. Although the company also deals with public projects, mining makes up 95% of its business. In the public sector, we mostly cover the construction of roads for projects that require the use of heavy machinery. While we plan to continue to develop our portfolio of clients, it will be at a slower pace because our aim is sustainable growth and to only take on projects we can really add value to.


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