GMexico Will Invest $3,800 Million Dollars

GMexico will invest 3.800 million dollars
The investment will be mainly in Cananea during the next five years by the rise in metals in the 3rd quarter action GMexico up 18 % and 20% Penoles .
Penoles has planned to open five new mines in the following years. (Photo : Bloomberg News)
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MEXICO CITY ( CNNExpansión.com ) – In the expectation of recovery of the world economy, particularly the continued increase in demand and prices for metals like copper and gold, the great Mexican mining ; Grupo Mexico and Industrias Penoles exercised in the following years millions invested.
Only in Mexico Grupo Mexico presiding Germán Larrea, Plans to pay up in the next five years 3.800 million dollars ( mdd) , of which , 2,100 million dollars will be targeted to the newly reclaimed mine Cananea.
” In the case of Cananea seek to become the fourth largest copper deposit in the world , “he said in an interview with Jorge Pulido , deputy director of investor relations firm.
With the new investments aim to increase production of copper content Cananea from 180,000 to 450,000 tons by 2015. Although the market is talking about the possibility of a relapse in the U.S. economy (EU ), the group’s management is confident that the recovery will continue .
The investment GMéxico is almost five times higher than the recently announced Volkswagen.
According to Rodrigo Heredia, analyst IXE Casa de Bolsa, this will allow a greater demand for commodities by emerging countries , particularly those of BRIC (Brazil, Russia, India and China).
It is estimated that China consumes only 36% of world copper production and the expectation is that the U.S. economy continue to grow at double digit.
As for the price of industrial metal (copper ), the projected mining industry analysts point to continue at high levels. “Some analysts talk about that in 2011 would settle at an average of 3.65 dollars per ounce , even the optimists say it could reach up to 4.0 dollars, ” said Pulido. At yesterday’s closing price of this metal was located in the 3.5450 U.S. dollars , thus accumulating a 17% hike in the last 90 days.
The metal provides 74% of the total income of the mining division Grupo Mexico ( Company 26 500 Expansion ) and about 60 % of the consolidated (including transport division ).
The historic gold glitter
The metal continues to record new highs in their quotes , forecasts are less encouraging. This Wednesday concluded the session in the $ 1,293.20 an ounce , 18 % above the level that ended in 2009.
“Gold has become an investment option backup to protect against U.S. inflation and amid fears of a double recession, ” said an analyst at IXE Casa de Bolsa. It found that although the price can be set in metal that increases the risk appetite in markets, even at high levels could be maintained .
The growth plans Penoles presiding Alberto Baillères are also very ambitious for the next five years. For the period 2010-2014 the company has proposed to increase by 50% and 40% of its production volumes of gold and silver , respectively, compared with the level of 2009.
Through Fresnillo, Penoles open five new mines : Soledad dipole ( which came into operation in 2010), Saucito , Christmas Eve , San Julián , Orysivo , and expansion of swamp. In 2009 the firm invested about 400 million dollars, which will take off significantly with new projects.
Of total consolidated revenue of the group ( 12 months to June) , gold contributed about 28% and 42.4% silver .
For Karla Peña , an analyst at Actinver Casa de Bolsa, the increase in revenues of this company has not been reflected in their flows due to the sharp increase in cost.
‘ Flashes ‘ equity
The sharp rise in the price of copper and gold has led to a sharp appreciation in the price of the shares Penoles and Grupo Mexico in the Bolsa Mexicana de Valores ( BMV). Only so far in the third quarter, the first has a nominal output of 20% and the second of 18%.
Compared to their lowest levels observed in the last 12 months , the stock price of these stations have soared 45% and 54 % in the same order.
“We must bear in mind that the performance of the action Grupo Mexico is highly exposed to economic performance of China , the main consumer of this metal in the world , “said Pena Actinver .
In the case of Penoles ( Company 42 of the 500 Expansion), IXE Heredia also said the rise in gold prices , other factors that have affected the recovery of the share price are: solid fundamentals that the company has ( strong balance sheet , business expansion and improvement in margins) , the lag that had been presented against the index of the Bombay BMWThe refinancing of its debt and the beginning of the seasonality of gold and silver ( September-December ).

Underpin World -Class Projects in Mexico

Underpin world-class projects in Mexico
Writer Real eStrategy 2 Articles and Reports October 8, 2010 Following the strategic alliance between the investment fund Prudential Real Estate Investors (PREI) and the Concord Group real estate company, the next monthAdd an event for next month will open the second phase of Costa Baja tourism development, a project of world-class real estate that is located in the city of La Paz, BCS. Alejandro Yberri, CEO of Costa Baja, said that when he saw the potential of the project, decided to seek a partnership with investors interested in real estate and eventually partnered with Prudential.

The second phase investment is about $ 150 million and was spent on the construction of residential units, a golf course designed by Gary Player, a spa and a hotel ... "We developed a master plan to build 1.300 residential units," explained Yberri , and also explained that Prudential was very interested in entering the tourism real estate sector. "