Chinese Mining Company Will Invest $150 Million Dollars in Mexico

Chinese mining companies will invest $150 million dollars in Mexico

19/10/2010 02:08



Mexico. Seven mining companies with Chinese capital will invest $150 million dollars in the exploration of iron, copper, gold, silver and manganese, in Mexico during 2011 since it is consider an attractive territory for Asian capital.

The general director of Mining Promotion of the Secretariat of Economy, Jesus Martin del Campo, said the firm Jinchuan Group is already building in northern Mexico in the Bahuerachi project for the extraction of copper, molybdenum, gold and silver.

He said there are other companies such as Shaanxi Dong Ling Group which already are exploring projects in Sinaloa and for the extraction of gold, silver, lead, copper and zinc.

He noted that these firms will join the Chinese companies Mining Investment and Zhong Ning Mexico that already operate in the country.

70% of mining exploration projects in the country are held by Canadian-owned firms, the other 30% are held by Australian, Peruvian and Mexican.

Martin del Campo said that 70% of Mexico’s territory has some mineral potential and today only 20% is operated. This makes the country a highly attractive country for foreign capital.