The Mexican Mining Chamber (Camimex) reported that investment in its sector could total $5.13 billion throughout 2024, a figure that will represent an annualized increase of 3.4 percent, compared to 2023.
In a report from the business chamber, it was reported that 50 percent of the total investment will be concentrated in three areas: purchase of equipment 10.0 percent of the total, maintenance with 18.6 percent and the expansion of projects will contribute 20.6 percent or $1.1 billion of the total.
It also reported that 2023 investment decreased 5.8 percent to $5.0 billion, compared to 2022. That amount was also below Camimex's own estimate for last year, which was $5.2 billion.
The business chamber also reported that the participation of the mining industry in the national GDP decreased from 2.89% in 2022 to 2.75% in 2023.
Camimex reported that according to the Investment Attractiveness Index, in 2023 Mexico lost 37 steps, going from position #37 in 2022 to position #74 in 2023.