Mexico Unlocks $11 Billion in Stalled Mining Projects, Boosting Sectoral Growth and Cargo Demand

Federal Policy Changes Revitalize Mining Sector

Mexico's federal government has initiated significant administrative streamlining, successfully unlocking more than $11 billion in previously stalled mining projects across the country. This strategic move is poised to invigorate the nation's mining sector and is expected to generate a substantial increase in cargo demand for related logistics and transportation services. The current administration inherited 176 stalled mining projects in October 2024, and through accelerated review processes, officials have resolved 110 of these cases. The remaining 66 projects are targeted for full regulatory normalization by mid-2026.

This activation of investment represents approximately 15-20% of Mexico's total annual mining sector investment capacity, signaling considerable potential for sectoral growth.

Key Regions and Major Projects Advancing

Several mineral-rich states are set to be primary beneficiaries of these policy changes, including Zacatecas, Sonora, and Chihuahua.

• Zacatecas: This state is leading the rebound, with a potential investment portfolio exceeding $6.5 billion. Its backlog of pending permits has been reduced from 25 to just 5. Notable projects include the $1.1 billion San Nicolás joint venture between Agnico Eagle and Teck Resources, which is now advancing its feasibility stage, and Orla Mining's Camino Rojo, which has received environmental clearance to extend its mine life.
• Sonora: The state currently has 83 active projects under monitoring. Examples include Silver Tiger's El Tigre project, with construction scheduled for 2026 backed by $180 million in investment commitments, and Southern Copper's El Pilar project, which is part of the company's $10.2 billion national project pipeline.
• Chihuahua: This region has identified eight advanced projects valued at $3.6 billion through 2030, featuring Discovery Silver's Cordero and Fresnillo's Orisyvo.

Regulatory Context and Future Outlook

The recent administrative efficiency comes after a period of regulatory uncertainty. In May 2023, Mexico enacted significant amendments to its Mining Law and other related legislation, often referred to as the 'Mining Reform'. These reforms introduced stricter environmental and social obligations, reduced the maximum duration of mining concessions from 50 to 30 years (with a single 25-year extension option), and granted exclusive mineral exploration rights to the Mexican Geological Service. These changes initially contributed to a decline in foreign direct investment in the mining sector in 2024.

However, the current government, under President Claudia Sheinbaum, has reversed some previous policy considerations, such as a proposed ban on open-pit mining, and is now focusing on accelerating approvals while maintaining modernized compliance and stricter environmental rules. This renewed focus on administrative efficiency, coupled with a commitment to sustainable practices, aims to position Mexico as a competitive player in global supply chains for critical minerals. The Mexican mining market size was estimated at $1.92 billion in 2024 and is projected to grow at a compound annual growth rate of 3.7% from 2025 to 2030.