SALVADOR GARCIA

Reactivation of the Mexican Mining Industry | MINING & INDUSTRY | VIP INTERVIEW

The current situation of the industry has motivated AIMMGM to find better ways to offer more solutions and support to its members.

What do you consider your biggest achievement as President of AIMMGM?

One of my greatest achievements as President of AIMMGM was the recent update we implemented to the philosophy of the association with the collaboration of our board members and district presidents. We collaborated to define a new mission, vision, and values for AIMMGM based on our new philosophy. We additionally collaborated to update the bylaws that mandate our association. The mission we established is based on the essence of the association: to integrate and develop professionals in the mining sector to the benefit of mining in Mexico and the country overall.

What has been the main impact of the pandemic on the Mexican mining industry?

The biggest impact was the two-month period in which we had to suspend all mining activities. We also had to quickly adapt to the new ways of working to control infections of COVID-19. Both situations have resulted in a major cost of operations for operators and players along the supply chain.

What is your opinion on the actions that the government and private sector has taken so far to reactivate the mining industry as of June 1?

I am extremely positive about the new actions that the government has implemented to reactivate the mining industry. The public sector has worked well with the private sector to establish new protocols for the context. Mining is one of the sectors that has best adapted to the pandemic. One important thing that we managed to achieve during this pandemic is for the federal government to consider mining as an essential activity. This is huge news for the industry, as it is the first time that the government has recognized the importance of the mining industry and the role it plays in the social and economic development of Mexico.

What would be your main advice to investors when it comes to how to proceed in the Mexican mining industry?

My main advice would be to stay informed and receive advice from experts in all aspects of the industry. I am referring to the legal and governmental issues on all three levels of the government, community relationships, and fiscal and labor issues. These are all aspects that need to be consulted before an investor makes the decision to enter the Mexican mining industry especially in such times of uncertainty.

What metals do you foresee will perform the best in this pandemic and why?

I predict that silver and gold will be the best-performing metals during the pandemic because during periods of uncertainty, investors typically view these two metals as a safe havens for investment. The impact and consequences of the pandemic are also factors that are helping increase prices.

In what ways is AIMMGM supporting mining companies during such uncertain times?

We are continuing to offer support to mining companies and members of the association by offering training. We are now offering online courses as well. The analysis and reformulation of the industry we implemented in the association has allowed to find better ways to offer solutions and support the members of AIMMGM. One of the best ways to achieve this is through training. We are currently launching the main project of my term as president: CAP. This training will on at a national level and will be offered online for all professionals in the mining industry. It starts in mid-August 2020.