Sonora is Mining Hub for Silver and Gold
Mexico’s longstanding performance as a global leader in gold and silver production extends over centuries.
Output from Mexico’s mining industry makes up 4% of the nation’s GDP and generates over 350,000 jobs. With the country’s Sonora state leading the way in mineral production, its viability as a mining hub is undeniable.
The gold standard for mining in Mexico is Fresnillo’s La Herradura mine in the state of Sonora. La Herradura had an excellent last quarter in 2017, producing 117,891 ounces of gold and 172,000 ounces of silver. With over 1,200 employees, nearly 400 contractors and over 20 years in operation, La Herradura is symbolic of Sonora’s longstanding profitability.
Today, Mexico is the world’s largest supplier of silver and was ranked as the eighth-highest producer of gold in 2017. In 2015, the states of Sonora and Zacatecas combined to make up 55% of the country’s aggregated mining GDP, while 11% of the country’s total territory is currently approved for mining operations to facilitate further investment activity.
Mexico’s president, Enrique Peña Nieto, released a statement in 2017 recognizing the importance of mining activity on Mexico’s economy, which ranks the resource sector as the fifth-biggest generator of foreign currency nationwide.
Between September 2016 and June 2017, Peña Nieto’s government has even subsidized training and technical assistance to small- and medium-sized mining companies interested in Mexico’s resources, while officials visited multiple mining conferences between 2016 and 2017 as a way of approaching foreign investors and hastening the development of operations in Mexico.
Mining operations in Sonora are supported by excellent infrastructure, including effective water and power supply system, high-grade access roads, a trained labor force and support vendors.
Additionally, climate conditions permit operation over the course of the entire year. Situated in a state with such a mining-friendly climate, many companies find their operations are unlikely to suffer supply constraints or logistical issues.