Mexico

2024 Report

Full data release with tables here.

Introduction  

In 2024, the country’s nonfuel mineral sector accounted for 8.7% of the industrial sector’s portion of the gross domestic product (GDP) and 2.8% of the total GDP. In 2024, Mexico remained one of the world’s most significant mineral-producing countries. The country was the world’s leading producer of silver, accounting for about 22.8% of world production; the 2d-ranked producer of fluorspar (14.7% of world production); the 3d-ranked producer wollastonite (13.1% of world production); the 4th-ranked producer of celestite (4.8% of world production); 5th-ranked producer of cadmium (5.2% of world production), molybdenum (6.3% of world production), and zinc (6.5% of world production); 6th-ranked producer of lead (5.2% of world production); 7th-ranked producer of gold (4.2% of world production); 8th-ranked producer of diatomite (4% of world production); 9th-ranked producer of gypsum (3.3% of world production) and salt (2.5% of world production); and 11th-ranked producer of copper (3.1% of world production) (Servicio Geológico Mexicano, 2025, p. 13–14; Callaghan, 2026; Crangle, 2026; Flanagan, 2026; Hartingh, 2026; Hatfield, 2026; International Monetary Fund, 2026; Klochko, 2026; Londono, 2026; MacGregor, 2026; Olson, 2026; Polyak, 2026; Sheaffer, 2026; Tolcin, 2026). 

Minerals in the National Economy 

In 2024, the output value of Mexico’s metallic-mineral industry, measured in United States dollars, increased by 19.6% compared with that in 2023; the change was owing mostly to the increase in the value of precious metals and the depreciation of the Mexican Peso in the foreign exchange rate between the U.S. United States dollar and the Mexican peso. Gold made up 31% of all metal mining production in terms of value, followed by copper (26%), silver (22%), zinc (7%), molybdenum (3%), and fluorite, iron ore, and lead (2% each) (Cámara Minera de México, 2025, p. 26–27). 

In 2024, a total of 574 mining operations were registered in Mexico. The three principal States with mining operations were: the State of Sonora with 126 projects (22%), the State of Chihuahua with 67 (12%), and the State of Durango with 59 (10%). The rest were distributed among 24 other States in the country (Cámara Minera de México, 2025, p. 29). 

In 2024, employment in the mining sector totaled 416,663 workers, which was 0.1% less than the number of people employed in the sector in 2023. In 2023, the latest year for which detailed data were available, about 40% mining workers were employed in the processing of nonmetallic minerals; 34% worked in the metallic minerals industry; 17% worked in the mining and processing of metallic mineral ores; 8% worked in the mining of coal, graphite, and nonmetallic minerals; and 1% worked in the mining of salt (Servicio Geológico Mexicano, 2024, p. 45; Cámara Minera de México, 2025, p. 34). 

In 2024, a total of 161 companies with foreign ownership were active in mining projects in Mexico. Of these companies, 76.4% had their central offices in Canada, 10.6% were headquartered in the United States, while the rest were headquartered in other countries (Cámara Minera de México, 2025, p. 29). 

Government Policies and Programs 

The mineral sector is governed by the Ley Minera of 1992, with oversight shared among the Secretaría de Economía, the Secretaría de Energía, and the Comisión Nacional de Hidrocarburos [Economy Secretariat, Energy Secretariat, and the National Comission of Hydrocarbons]. The Servicio Geológico Mexicano [Mexican Geological Survey] (SGM) oversees geologic information and resource evaluation. Reforms enacted in 2023 significantly expanded the Government’s direct role in exploration and environmental regulation. More-extensive coverage of Government policies and programs can be found in previous editions of this chapter in the U.S. Geological Survey Minerals Yearbook, volume III, Area Reports — International — North-Central America-and-Caribbean, which are available at https://www.usgs.gov/centers/national-minerals-information-center/north… (Cámara de Diputados del H. Congreso de la Unión, 2014a; 2014b; 2016) 

Production 

Data on mineral production are in the Production table (formerly table 1). 

Structure of the Mineral Industry 

Mexico’s mineral industry included both State-owned and private companies. Foreign ownership is dominated by firms headquartered in Canada and the United States. The Government retained majority ownership in certain strategic commodities, including salt and lithium. Private companies such as Fresnillo plc. (Fresnillo), Grupo México, S.A.B. de C.V. (Grupo México), Industrias Peñoles, S.A.B. de C.V. (Industrias Peñoles), and Pan American Silver Corp. (Pan American Silver) of Canada were major producers, in order of value of production, of silver, gold, copper, lead and zinc. The Facilities table (formerly table 2) is a list of major mineral industry facilities. 

Mineral Trade 

Mineral and metallurgical exports in 2024 increased by 5.4% to \$17.7 Billion, compared with those in 2023. These exports were led by copper (40%), silver (21%), iron products (12%), secondary aluminum (10%), and lead (9%). The United States remained Mexico’s principal mineral trade partner in terms of value, receiving 57% of Mexico’s mineral exports, followed by China (29%); and the Republic of Korea (6%) (Servicio Geológico Mexicano, 2025, p. 20, 242). 

Commodity Review 

Copper.—In 2024, production of mined copper increased by 2.6% to 717,332 metric tons (t) compared with that in 2023. The four primary copper-producing States in 2024, listed by volumes of production, were Sonora, Zacatecas, San Luis Potosi, and Chihuahua. The State of Sonora was the leading producer of copper in the country, producing 80.1% of the national production. Zacatecas was the second-ranked producing State with a 10.2% share of national production, San Luis Potosí was third with a 3.9% share, and Chihuahua was the fourth with a 2.2% share. In 2024, Grupo México was the leading copper producer by volume in Mexico, producing an estimated 559,000 t of copper, or 78% of all copper produced in the country. In 2024, Grupo México continued to develop its El Pilar copper greenfield project, located in the State of Sonora, about 45 kilometers (km) from Grupo México’s Buena Vista del Cobre Mine. The company stated that results from experimental pads in the leaching process confirmed adequate levels of copper recovery and that it was evaluating different options for optimizing future production. The company reported that El Pilar’s copper oxide mineralization contained estimated proven and probable reserves of 317 million metric tons (Mt) of ore with an average grade of 0.25% Cu. The company anticipated that El Pilar would operate as an open pit mine with a production capacity of 36,000 metric tons per year (t/yr) of copper cathodes by 2028. The mine life was estimated to be 13 years (Facilities table; Production table; Cámara Minera de México, 2025, 48–50 p.; Grupo México, S.A.B. de C.V., 2025, p. 4). 

Grupo México reported that its project El Arco was a copper deposit located in the central part of the State of Baja California Sur, about 30 km south of the town of Guerrero Negro. The deposit contained sulfide ore reserves of more than 1,230 Mt with an average ore grade of 0.40% Cu, and 141 Mt of leach material with an average ore grade of 0.27% Cu. The project was expected to be completed by 2030 and would include an open-pit open pit mine with a combined production capacity of 120,000 metric tons per day of ore and concentrates and 28,000 t/yr of solvent extraction–electrowinning (SX–EW) output. In 2024, the company completed the environmental baseline study for the mine, and more detailed engineering studies were being conducted to finalize the construction of the concentrator, the (SX–EW) plant, the water desalination site, logistics infrastructure, and power delivery for the entire project (Grupo México, S.A.B. de C.V., 2025, p. 4). 

The five largest mining operations, in terms of volume of copper concentrate production, in 2024 were: the Buena Vista del Cobre Mine, owned by Grupo México, and located in the State of Sonora (348,959 t); the La Caridad Mine, also owned by Grupo México and located in the State of Sonora (93,725 t); the Cozamin Mine, owned by Capstone Mining Corp. of Canada and located in the State of Zacatecas (24,907 t); the Nemisa Mine, owned by Negociación Minera Santa Maria de la Paz, S.A. de C.V., and located in the State of San Luis Potosi (24,498 t) ; and the Aranzazu Mine, owned by Aura Minerals Inc. of the British Virgin Islands and located in the State of Zacatecas (19,924 t) (Facilities table; Cámara Minera de México, 2025, p. 49). 

Gold.—In 2024, mined gold production in Mexico amounted to 117,571 kilograms (kg) and the State of Zacatecas was the country’s principal gold-producing State, accounting for 34.9% of the country’s total production, while the State of Sonora produced 22.9%. The States of Guerrero (16.5%), Chihuahua (11.1%), and Durango (9.1%) accounted for most of the remaining production. The five largest gold-producing companies, in terms of volume, were Torex Gold Resources Inc. (Torex Gold) of Canada; Fresnillo; Newmont Corp. (Newmont) of the United States; Alamos Gold Inc. (Alamos) of Canada; and Equinox Gold Corp. (Equinox) of Canada. The three principal gold-mining operations in 2024 in terms of volume of production were: the El Limón-Guajes (ELG) Mine (14,075 kg), the La Herradura Mine (11,215 kg), and the Peñasquito Mine (9,300 kg) (Facilities table; Production table; Cámara Minera de México, 2025, p. 36–37).  

In late June, Alamos produced 118 kg of gold in its Phase 1 construction operations at its Santana Mine in State of Sonora. Construction of Phase 2 was expected to increase production capacity by 40% in 2025. The company stated that operational improvements were anticipated ahead of the permit modification required for construction of Phase 3 of the mine. The company also reported that it was continuing exploration and development at its Cerro de Oro project in the State of Zacatecas; the acquisition of the necessary permits was projected for the first half of 2025, at which point a construction decision was expected. If the project proceeds, construction completion is expected for 2026. The Cerro de Oro Mine was expected to produce 1,816 kilograms per year (kg/yr) over an 8.2-year mine life, with an initial investment of \$28 million (Cámara Minera de México, 2025, p. 39). 

In July 2024, Alamos bought Argonaut Gold Inc. (Argonaut Gold) of the United States, and in this transaction, it was agreed that all Argonaut Gold properties in Mexico would become property of a spinoff junior gold-producing company Florida Canyon Gold Inc. (Florida Canyon). This junior company was seeking buyers for these properties in Mexico and Heliostar Metals Ltd. of Canada expressed interest; however, by November, Florida Canyon stock was purchased by Integra Resources Inc. of Canada. In September 2024, First Majestic Silver Corp. (First Majestic) of Canada and Gatos Silver Inc. (Gatos Silver) of the United States reached an agreement to combine both companies into a single entity, under this agreement First Majestic acquired all the stocks from Gatos Silver and as such its properties in Mexico such as the mine “Cerro Los Gatos” in the State of Chihuahua (Cámara Minera de México, 2025, p. 31–32). 

Iron and Steel.—In 2024, raw steel production decreased by 16% to 13.7 Mt compared with that in 2023. In March 2023, Argentem Creek Partners L.P. of the United States bought Altos Hornos de Mexico S.A.B. DE C.V. (AHMSA) and stated that it was reorganizing it. However, by August 2023, the company remained closed and in bankruptcy proceedings, and in 2024, the company remained closed. In 2024, Mexico ranked 15th among the world’s leading producers of raw steel, and 2d (after Brazil) among Latin America’s leading producers. Leading iron ore producers in Mexico included ArcelorMittal Holdings AG of Luxembourg and Consorcio Minero Benito Juarez Peña Colorada S.A. de C.V. (Facilities table; Production table; Cámara Minera de México, 2024, p. 356, 359; El Financiero, 2023; World Steel Association, 2026). 

Lead and Zinc.—In 2024, the majority of lead production in Mexico was obtained as a byproduct of the mining of other minerals, such as copper, gold, silver, and zinc. Lead mine production increased by 29.4% to 236,771 t in 2024. Six companies produced most of Mexico's lead: Newmont, which accounted for 40.7%, followed by Fresnillo (27%), First Majestic (10%), Grupo México (9%), and Industrias Peñoles (3%). Newmont owned the Peñasquito Mine, which, in addition to being one of the country’s leading gold-producing mines, was also the country’s leading lead-producing mine (Production table; Cámara Minera de México, 2025, p. 52). 

In 2024, the production of mined zinc in Mexico increased by 32.5% to 773,189 t compared with that in 2023.  The State of Zacatecas produced about 63.2% of the country’s total mined zinc. In 2024, Newmont, represented about 33.4% of the total production of zinc in the country, followed by Industrias Peñoles, Grupo México, Fresnillo, and Minera Frisco S.A.B. de C.V. (Minera Frisco). These five companies produced 89% of Mexico’ mined zinc (Facilities table; Production table; Cámara Minera de México, 2025, p. 52).  

Lithium—In April 2022, the Government of Mexico nationalized the country’s lithium reserves and created LitioMx (Litio para México), a State-owned company responsible for their development. It was stated that LitionMx would be seeking partnerships with companies from the United States and Canada to develop lithium resources. As of 2024, the Government was still in the process of finding partners for the new company (El Financiero, 2022). 

Silver.—In 2024, Mexico’s silver mining production was about 5,630 t, a decrease of 0.4% from that in 2024. The State of Zacatecas was the principal producer of silver by volume in the country, producing 40.1% of the total national production in 2024, followed by the States of Durango (20.5%), Chihuahua (19.2%), Sonora (8.7%), and San Luis Potosi (2.9%) (Facilities table; Production table; Cámara Minera de México, 2025, p. 43). 

In terms of mine output, the Peñasquito Mine was Mexico’s leading silver-producing mine, accounting for 1,026,414 kg of mined silver in 2024, a significant increase compared with 2023 production, which was reduced owing to 4 months of inactivity caused by a labor strike in 2023. Other leading silver mines included the Saucito Mine, which produced 510,408 kg; the San Julian Mine, which produced about 368,265 kg; the Juanicipio Mine, which produced about 323,476 kg; and the Fresnillo Mine, which produced 318,500 kg. Of the five highest-producing silver mines in the country, the Fresnillo, Juanicipio, Saucito, and the Peñasquito Mines were all located in the State of Zacatecas, whereas the San Julian Mine was located in the State of Chihuahua (Facilities table; Cámara Minera de México, 2025, p. 43). 

As of December 31, 2019, measured and indicated mineral resources at the El Saucito Mine were estimated at 14.61 Mt at average grades of 334 grams per metric ton (g/t) silver, 1.93 g/t gold, 3.07% zinc, and 1.57% lead; inferred mineral resources were estimated at 26.49 Mt at average grades of 255 g/t silver, 1.05 g/t gold, 1.68% zinc, and 0.95% lead. Proven and probable reserves were estimated at 12.98 Mt at average grades of 313 g/t silver, 1.75 g/t gold, 2.93% zinc, and 1.49% lead. As of 2019, measured and indicated mineral resources at the Fresnillo underground mine, one of the world’s oldest polymetallic mines, were estimated to be 33.3 Mt at average grades of 397 g/t silver, 0.85 g/t gold, 3.34% zinc, and 1.67% lead; inferred mineral resources were estimated at 31.38 Mt at average grades of 319 g/t silver, 0.70 g/t gold, 2.45% zinc, and 1.24% lead. Proven and probable mineral reserves at Fresnillo were estimated at 21.17 Mt at average grades of 296 g/t silver, 0.77 g/t gold, 3.53% zinc, and 1.75% lead (Fresnillo plc., 2020, p. 1, 3, 15, 20, 50, 52, 225, 229, 238, 240; Cámara Minera de México, 2024, p. 41–43; Cámara Minera de México, 2025, p. 43). 

Strontium.—Minas de Celestita, S.A. de C.V. was the leading producer of celestite by volume in the country. All celestite was produced in the State of Coahuila (Production table; Cámara Minera de México, 2024, p. 88, 331; Servicio Geológico Mexicano, 2024, p. 426). 

Production table

(Metric tons, gross weight, unless otherwise specified)

References Cited 

• Callaghan, R.M., 2026, Cadmium: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 60–61. 

• Cámara de Diputados del H. Congreso de la Unión, 2014a, Ley de inversión extranjera [Foreign investment law]: Mexico City, Mexico, Cámara de Diputados del H. Congreso de la Unión, 53 p. [In Spanish.] 

• Cámara de Diputados del H. Congreso de la Unión, 2014b, Reglamento de la Ley Minera [Regulations of the Mining Law]: Mexico City, Mexico, Cámara de Diputados del H. Congreso de la Unión, 55 p. (Accessed March 15, 2026, at https://www.diputados.gob.mx/LeyesBiblio/regley/Reg_LMin.doc.) [In Spanish.] 

• Cámara de Diputados del H. Congreso de la Unión, 2023, Ley de Mineria [MP1.1][AP1.2] [Mining law]: Mexico City, Mexico, Cámara de Diputados del H. Congreso de la Unión, 47 p. (Accessed June 10, 2026, at https://www.diputados.gob.mx/LeyesBiblio/pdf/LMin.pdf.) [In Spanish.] 

• Cámara Minera de México, 2024, Informe anual Camimex 2024 [Annual report Camimex 2024]: Mexico City, Mexico, Cámara Minera de México, February 23, 399 p. (Accessed January 15, 2026, at https://www.camimex.org.mx/application/files/4417/2296/7578/00_InfoCami….) [In Spanish.] 

• Cámara Minera de México, 2025, Informe anual Camimex 2025 [Annual report Camimex 2025]: Mexico City, Mexico, Cámara Minera de México, February 21, 362 p. (Accessed January 15, 2026, at https://www.camimex.org.mx/application/files/2017/5443/6647/InfoCamimex….) [In Spanish.] 

• Crangle, Rob, 2026a, Diatomite: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 76–77. 

• Crangle, Rob, 2026b, Gypsum: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 94–95. 

• El Financiero, 2022, Es oficial--AMLO publica reforma a Ley Minera para nacionalizar el litio [AMLO publishes reform to the Mining law to nationalize lithium]: El Financiero [Mexico City, Mexico], April 20. (Accessed June 20, 2026, at https://www.elfinanciero.com.mx/economia/2022/04/20/es-oficial-amlo-pub….) [In Spanish.] 

• El Financiero, 2023, Cierre de AHMSA ‘derriba’ 15% la producción de acero [AHMSA closure knocks down 15% of steel production]: El Financiero [Mexico City, Mexico] August 23. (Accessed January 11, 2026, at https://www.elfinanciero.com.mx/empresas/2023/08/23/cierre-de-ahmsa-der….) [In Spanish.] 

• Flanagan, D.M., 2026, Copper: U.S. Geological Survey Mineral Commodity Summaries 2025, p. 72–73. 

• Fresnillo plc., 2020, Annual report and accounts 2019: London, United Kingdom, Fresnillo plc., 244 p. (Accessed February 10, 2026, at https://www.fresnilloplc.com/investors/reports-and-presentations/annual….) 

• Grupo México S.A.B. de C.V., 2025, Resultados cuarto trimestre 2024 [Results for the 4th quarter 2024]: Mexico City, Mexico, Grupo México S.A.B. de C.V., February 11, 19 p. (Accessed March 7, 2026, at https://www.gmexico.com/GMDocs/ReportesFinancieros/Esp/2024/RF_ES_2024_….) [In Spanish.] 

• International Monetary Fund, 2026, Mexico: Washington, DC, International Monetary Fund. (Accessed March 10, 2026, at https://www.imf.org/en/countries/mex#ataglance.) 

• Klochko, Kateryna, 2026, Lead: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 114–115. 

• Londono, Vanessa, 2026, Fluorspar: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 80–81. 

• Polyak, D.E., 2026, Molybdenum: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 130–131. 

• Olson, D.W., 2026, Wollastonite: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 206–207. 

• Servicio Geológico Mexicano, 2024, Anuario estadístico de la minería mexicana 2023, [Statistical yearbook of Mexican mining 2023]: Mexico City, Mexico, Servicio Geológico Mexicano, 508 p. (Accessed December 15, 2026, at https://www.sgm.gob.mx/productos/pdf/Anuario_2023_Edicion_2024.pdf.) [In Spanish.] 

• Servicio Geológico Mexicano, 2025, Anuario estadístico de la minería mexicana 2024 edición 2025, [Statistical yearbook of Mexican mining 2024, 2025 edition]: Mexico City, Mexico, Servicio Geológico Mexicano, 522 p. (Accessed January 12, 2026, at https://www.sgm.gob.mx/productos/pdf/Anuario_2024_Edicion_2025.pdf.) [In Spanish.] 

• Sheaffer, K.N., 2026, Gold: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 90–91. 

• Tolcin, A.C., 2026, Zinc: U.S. Geological Survey Mineral Commodity Summaries 2026, p. 212–213. 

• World Steel Association, 2026, World Steel in Figures 2025: World Steel Association, [Undated].  (Accessed July 15, 2026, at  https://worldsteel.org/data/world-steel-in-figures/world-steel-in-figur….)