Mexico’s Mining Industry Declines by 4.3% in the First Three Quarters.

According to BNAmericas, in the first three quarters, Mexico’s mining and metallurgy industry (hereafter referred to as the mining industry) saw a year-on-year production decline of 4.3%, with an annual decline seemingly inevitable.

Affected by the weakness in the construction industry, the Mexican mining industry only grew by 1.1%.

Data from the Mexican National Institute of Statistics and Geography (Inegi) shows that in September, the entire mining industry (from extraction to smelting) declined by 8.1% year-on-year, following decreases of 12.8% and 7.6% in August and July, respectively.

In September, Mexico’s gold output fell by 11.3% year-on-year, with declines of 24.6%, 18.8%, and 26% in August, July, and June, respectively. The main reason was a four-month strike at the Peñasquito mine, owned by the American mining company Newmont, which ended in mid-October.

Compared to August, Mexico’s gold production in September was 6,210 kilograms, an increase of 22%, but there was a 7.7% decrease in the first nine months compared to the same period last year.

Silver output was 284,144 kilograms, a 10.1% decrease year-on-year and a 16% decrease compared to the previous month.

Lead production was 9,010 tons, a 24.8% year-on-year decrease; zinc production was 17,622 tons, a decrease of 35.2%.

Production of coking coal, iron ore pellets, and fluorite also declined.

On the other hand, copper output in September was 40,365 tons, a 1.2% increase compared to the same month last year. Production of non-coking coal, gypsum, and sulfur also increased.

In September, Mexican metal and non-metal mining activities contracted by 3.7% year-on-year, the largest decrease so far this year, mainly due to impacts on the operations of Ahmsa and the Peñasquito gold and silver mine.

According to revised data from Inegi, non-petroleum mining activities continued to decline or stagnate for the seventh consecutive month in September. The monthly industrial activity index (IMAI) released at the beginning of November showed a 1.3% contraction in the first nine months.

[Source – 上海有色网] 前三季度墨西哥采矿业下降4.3%

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