Future growth of mining production in Mexico is expected to be driven by the expansion of end-user markets such as the construction, manufacturing and power generation industries, which is expected to increase demand for coal, iron ore and cement.
The country’s coal production is expected to accelerate to a CAGR of 8.71% to reach a projected value of 42.5 million tons in 2016.
Iron ore is the major mineral in terms of volume with other key minerals being copper, fluorspar, salt, molybdenum and barites. Iron ore production recorded a CAGR of 3.93% during the review period.
During the review period, fluorspar production grew at a CAGR of 3.73%.
During the review period, salt production grew at a CAGR of 1.17% and is projected to grow at a CAGR of 1.89% over the forecast period.
The country is the second-largest producer of silver in the world and it accounted for 6.98% of global silver reserves in 2011, the report said.
The full report, ‘Mexico Mining Industry Outlook – Market Opportunities and Entry Strategies, Analyses and Forecasts to 2016’ is available from BRICdata. Click here for more details.
