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Mexican mining output has a high chance of dropping by about 17% in 2020 due to the disruptions brought by the novel coronavirus crisis. However, it is likely to recover in the first quarter of 2021, the head of the country’s mining chamber said on Wednesday.
“Last year, the total value of mining production was more or less around 244 billion pesos ($11.25 billion) and we’re estimating that this year it will drop by 17%,” Camimex President Fernando Alanis said.
In an interview with Reuters, Alanis also foresees a 10% drop in Mexican mining exports. The prediction is likely as the novel coronavirus pandemic presses deeper.
Alanis said that the industry has resumed its operations, mentioning that half of the operational workforce returned and the rest of the staff will follow over the next two months. Though mining activities have continued, exploration would remain on hold for the time being.
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KYC Policy