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Mexico ‘08 Mining Investment To Total $3.1 Bln, Up 48% - Min

Last Update: 4/3/2008 12:35:27 AM

SYDNEY (Dow Jones)–Foreign investment in Mexico’s mining sector will total US$20
billion for the 2007-2012 period, with investment in the country’s gold, silver
and copper sector expected to total US$3.1 billion this year, said Mexico’s
General Mining Coordinator Norberto Roque.

That’s up nearly 48% from investment totaling about $2.1 billion last year, Roque
said.

Mexico’s biggest mining investor by country is Canada, making up nearly 76% of
investments from companies such as Goldcorp Inc. (G.T) and Teck Cominco Ltd.
(TCK)

About 81% of exploration expenditure will go toward gold and silver mining, and
about 13% to copper and 9% to polymetallic projects, Rogue said on the sidelines
of the Resourceful Event Latin America conference.

Mexico, South America’s second largest economy after Brazil, hopes that
investment in the mining sector will help drive economic growth of 3.33% this
year.

“Mining makes up about 3.6% of GDP, but the sector is growing faster than the
overall economy,” said Roque.

Mexico produces more than 11% of global silver consumption, nearly 3% of lead, 4%
of zinc and 2.1% of copper.

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