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 second-ranked producer of fluorspar (14.7% of world production); the third-ranked producer of wollastonite (13.1% of world production); the fourth-ranked producer of celestite (4.8% of world production); and one of the top ten global producers of gold, copper, lead, and zinc. Other mineral commodities produced included antimony, feldspar, graphite, molybdenum, salt, and talc.
The mining and quarrying sector accounted for 2.8% of Mexico’s total gross domestic product (GDP) in 2024 and 8.7% of the industrial sector’s GDP. Mineral exports to the United States were dominated by copper, silver, and iron products. The legislative framework for the mineral sector is governed by the Ley Minera [Mining Law] of 1992, which was revised in 2023. Oversight of the mineral industry is carried out by the Secretaría de Economía [Ministry of the Economy]—primarily through the Dirección General de Regulación Minera [General Directorate of Mining Regulation]—and by the Servicio Geológico Mexicano [Mexican Geological Survey] (SGM). The mining industry includes domestic and foreign companies, with most foreign-owned projects headquartered in Canada and the United States.
Significant regulatory changes occurred in 2023 with amendments to the Mining Law. These reforms established that mineral exploration may only be carried out by the Mexican Government through the SGM; all concessions must be awarded through public bidding; production concessions now have a maximum 30 year duration; and new environmental and social obligations were introduced, including water use restrictions, water recycling requirements, and mandates to consult Indigenous communities for projects that would impact these communities.
