Are Things Looking Up for the Mexican Mining Industry?

One ounce silver Mexican Libertad

Although several of our recent stories regarding the Mexican mining industry have centered on some of the challenges (dealing with drug cartels one of the main ones), we are happy to report that more recent news coming from South of the Border skews toward the positive.

First, the summer saw an uptick in Mexico's industrial production across the board, with mining expanding by 1.1% and oil and gas extraction rising by 1.2%. Better still, June marked its second monthly expansion in a row.

Second, initial explorations at the Potosi silver mine in Santa Eulalia, Mexico, yielded positive results. These results have encouraged the mine to move forward with expansion plans.

Mr. Alain Lambert, Chairman and C.E.O. of Cyprium stated: "The results of this initial phase of exploration are consistent with expectations. These results will help our technical team design a more comprehensive exploration program..." (Your Industry News)

Third, Mining Global reports that with Latin America "poised to be a hot spot for mining exploration and investment at a global level" over the next six years, the market for mining equipment in the region will expand as a result. According to their reports, "the global mining equipment market will grow at a moderate CAGR of 8.6 percent from 2012 to 2018, and be worth $117 billion by 2018. Latin America is expected to be a major driver for this growth."

We're happy to hear of these positive trends, and not just because we routinely ship tires to Mexico and throughout Latin America. What's good for the Mexican mining industry is good for all of us, since all growth strengthens the industry.

For more information on our stock of OTR tires, or to hear about our current deals, please feel free to contact us.

Image credit: APMEX

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