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Mexico sees mining investment

MEXICO CITY (Reuters) (2011-02-21) – Mexican miners said on Monday at least 50 silver, gold, copper and zinc projects are attractive targets for mergers or acquisitions and high metals prices will draw $4.4 billion in mining investment to the country this year.

With 738 active exploration projects in Mexico, the ground is fertile for acquisitions, said Eduardo Luna, the director of precious metals miner Primero. “There are around 50 projects that are being studied by different companies that have the possibility to be developed beyond the capacity of their actual owners,” Luna said at a mining chamber event in Mexico City.

“Definitely there will be mergers and acquisitions,” he said, without naming specific companies.

Only a third of Mexican territory has been explored for mining, so there is plenty of room for growth in the industry that has long been overshadowed by Mexico’s oil wealth.

The most advanced exploration projects are already owned by the major mining companies, including …

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