Murat speaks at a mining industry event in Canada. Murat speaks at a mining industry event in Canada.

Canadian miners plan Oaxaca investments

Governor announces US $87 million pledged for the next six months

Oaxaca Governor Alejandro Murat Hinojosa has announced that Canadian mining companies will invest US $87.5 million in his state during the next six months, creating over 5,000 direct jobs.

The governor participated last week at the Mexico Mining Day forum, part of the Prospectors & Developers Association of Canada’s (PDAC) International Convention, held in Toronto last week.

Murat also said that the investors are committed to respecting the environment and will invest at least $100 million in social projects in indigenous communities.

Canadian investors operate 173 mining companies with more than 800 projects in Mexico, making Canada the biggest foreign investor in mining.

Mexico is the world’s top silver producer, second in fluorite and eighth in gold. Overall, the Mexican mining industry is among the top 10 in the world, producing 16 different minerals.

One of the country’s most important selling points in term of mining opportunities is in the fact that only 30% of its potential has been exploited.

Source: Milenio (sp)

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