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Mexican mining, metal production on the slide in Jan-Sep

Bnamericas
Mexican mining, metal production on the slide in Jan-Sep

Mexico's mining-metal production dipped 4.3% year-on-year in January-September, suggesting that output will be down for the full year. 

In 2022, mining and metal output rose just 1.1% against the backdrop of a weak performance in the construction sector.

The total volume of mining and metal output – including extraction, smelting and refining – tumbled 8.1% year-on-year in September, after falling 12.8% in August and 7.6% in July, according to statistics agency Inegi .

Mexico's gold production was down 11.3% year-on-year in September, following drops of 24.6%, 18.8% and 26% recorded in August, July and June, respectively, largely as a result of a four-month strike at the Peñasquito mine owned by US firm Newmont. The union action was eventually called off in mid-October.

Compared with August, output of the yellow metal was up 22% to 6,210kg in September, but down 7.7% year-on-year in January-September.

Meanwhile, silver output slipped 10.1% year-on-year to 284,144kg in September, which was a month-on-month decrease of 1.6%; lead production dived 24.8% year-on-year to 9,010t; and zinc output fell 35.2% to 17,622t. Production of coke, iron pellets and fluorspar also decreased.

Copper production, on the other hand, increased 1.2% year-on-year to 40,365t, while output of non-coking coal, gypsum and sulfur also showed increases, according to Inegi.

In September, metallic and non-metallic mining activity in Mexico saw a year-on-year contraction of 3.7%, its largest drop so far this year according to the statistics agency, due to labor and operational conflicts suffered at steel company Ahmsa and the Peñasquito silver and gold mine, a sector official told BNamericas.

For the seventh consecutive month, non-oil mining activity also fell or remained stagnant in September, according to revised data from Inegi. Meanwhile, activity contracted 1.3% year-on-year in January-September, according to the monthly industrial activity indicator (IMAI), published early in November.

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