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Tuesday, February 22, 2011

Mexico Sees Mining Investment-Penoles Bets On Zinc

  • Mining investment seen rising 7.3 pct in 2011
  • Penoles to invest $200 mln in new zinc mine
  • At least 50 projects look good for acquisitions
IN MEXICO CITY - Mexican miners said on Monday at least 50 silver, gold, copper and zinc projects are attractive targets for mergers or acquisitions and high metals prices will draw $4.4 billion in mining investment to the country this year.

With 738 active exploration projects in Mexico, the ground is fertile for acquisitions, said Eduardo Luna, the director of precious metals miner Primero. "There are around 50 projects that are being studied by different companies that have the possibility to be developed beyond the capacity of their actual owners," Luna said at a mining chamber event in Mexico City."

Definitely there will be mergers and acquisitions," he said without naming specific companies.


Only a third of Mexican territory has been explored for mining, so there is plenty of room for growth in the industry that has long been overshadowed by Mexico's oil wealth.

The most advanced exploration projects are already owned by the major mining companies, including Grupo Mexico, Goldcorp and Fresnillo, the precious metals arm of Penoles and the world's largest primary silver producer, the chamber's director said.

Lifeline of Mumbaities is Local Railway. Lifeline for the world is - Aluminium, Copper, Crude, Gold, Lead,
Natural Gas, Nickel, Silver, Zinc.

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