Mexico has long ranked as a favorite jurisdiction for mining investors, who have been attracted by its massive geological potential, long mining history and skilled workforce. These factors, among others, laid the foundation for significant production growth over the past decade, particularly in gold, silver and copper, the country's main mining products.

But the sector took a major hit in the post-2011 metals slump, with a slew of projects derailed and exploration and development spending cut to the core. The blow was exacerbated by the introduction of mining royalties in 2014 and a ramping-up of various in-country risks, including security and relations with communities and unions.

Drilling at Juanicipio. Source: MAG Silver

President-elect Andrés Manuel López Obrador, or AMLO as he is commonly known, will take office at a crucial time for the sector, with a nascent recovery beginning to gain traction. Investment is growing as miners look to cash-in on recent price improvements, with gold, silver and copper all up from their 2015-16 lows.

With the country's geological potential continuing to provide attractive development opportunities, what does the left-wing Morena party leader's landslide victory mean for Mexico's mining recovery?

Cover photos: Peñasquito mine. Credit: Goldcorp. / Andrés Manuel López Obrador. Credit: AFP


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