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Released May 20, 2025 | SUGAR LAND
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Researched by Industrial Info Resources (Sugar Land, Texas)--Mexico's Metals & Minerals Industry is a strategic pillar of the national economy and one of the world's top producers of silver, copper, gold, zinc and lead. It features a rich and diverse geological base, a long mining tradition and strong foreign investment, especially from Canadian and U.S. companies.
Industrial Info is tracking more than 550 active projects in Mexico's Metals & Minerals Industry, totaling about US$25 billion of investment. In addition, Industrial Info is tracking progress at more than 580 operational plants across the country.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a full list of detailed reports for related projects, and click here for a full list of detailed plant profiles.
Investment is concentrated in four Mexican states: Nuevo León with 16% of the total, representing more than US$3.8 billion; Baja California with 12%; and Sonora and Durango, with 11% each. The top industrial sectors for investment are mining and steel production.
The mining sector accounts for 64% of Mexico's total investments in metals and minerals, more than US$16 billion, while the steel sector makes up 17%, more than US$4 billion. Mexico has abundant mineral resources, suitable infrastructure for industrial development, and long experience working with both local and international companies.
However, the industry still faces several challenges that limit its growth potential. Regulatory uncertainty and changes in tax policies have affected investor confidence. Reforms introduced during López Obrador's administration--such as the nationalization of lithium resources and the potential suspension of open-pit mining--continue to raise concerns in the mining market. These decisions have led to a drop in foreign investment, along with the suspension of key activities, such as exploration and drilling campaigns.
Additional factors include socio-environmental conflicts with local communities, rising operating costs due to inflation, and disruptions in global supply chains. Recently, new tariffs from the U.S. have put pressure on the Mexican mining sector. These conditions have pushed many companies to re-evaluate project design and costs, leading to significant delays in investment execution.
Out of all the investments tracked by Industrial Info, 72%, or US$17.9 billion, are in the planning phase, while 28%, or more than US$7 billion, are in the engineering or construction phases.
Current Outlook and Projection to 2026
More than 340 projects, valued at more than US$9.7 billion, are expected to begin construction between 2025 and 2026. During this period, investment trends in the metals and minerals sector are expected to continue, with mining accounting for 63% and the steel sector 12% of the total investment.
The steel industry is one of the most developed parts of Mexico's industrial base, supplying strategic sectors like construction, automotive, infrastructure and manufacturing. The USMCA trade agreement of 2020 has been a major driver of steel-sector growth, positioning Mexico as a key commercial partner for the U.S., especially in automotive, construction and home appliances.
In recent years, the rise in automotive investment--especially in electric vehicle (EV) production--and the nearshoring trend have boosted steel demand, encouraging new investment. A clear example of this is Ternium S.A.'s (Luxembourg, Luxembourg) expansion of a direct reduced iron plant in Pesquería, Nuevo León. Subscribers can learn more from a detailed project report and plant profile.
According to Industrial Info, more than 423 automotive projects are planned to begin between 2025 and 2026, with investments exceeding US$8 billion. The largest states for investment are Guanajuato, Nuevo León, Jalisco, Coahuila and Querétaro, accounting for 69% of the market with more than US$5 billion. Some key projects include:
Some key steel projects expected for 2025--2026 include:
Ending this stagnation and advancing project development will help Mexico maintain and expand its strategic role in mining in a world increasingly focused on critical minerals.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
Industrial Info is tracking more than 550 active projects in Mexico's Metals & Minerals Industry, totaling about US$25 billion of investment. In addition, Industrial Info is tracking progress at more than 580 operational plants across the country.
Subscribers to Industrial Info's Global Market Intelligence (GMI) Metals & Minerals Project and Plant databases can click here for a full list of detailed reports for related projects, and click here for a full list of detailed plant profiles.
Investment is concentrated in four Mexican states: Nuevo León with 16% of the total, representing more than US$3.8 billion; Baja California with 12%; and Sonora and Durango, with 11% each. The top industrial sectors for investment are mining and steel production.
The mining sector accounts for 64% of Mexico's total investments in metals and minerals, more than US$16 billion, while the steel sector makes up 17%, more than US$4 billion. Mexico has abundant mineral resources, suitable infrastructure for industrial development, and long experience working with both local and international companies.
However, the industry still faces several challenges that limit its growth potential. Regulatory uncertainty and changes in tax policies have affected investor confidence. Reforms introduced during López Obrador's administration--such as the nationalization of lithium resources and the potential suspension of open-pit mining--continue to raise concerns in the mining market. These decisions have led to a drop in foreign investment, along with the suspension of key activities, such as exploration and drilling campaigns.
Additional factors include socio-environmental conflicts with local communities, rising operating costs due to inflation, and disruptions in global supply chains. Recently, new tariffs from the U.S. have put pressure on the Mexican mining sector. These conditions have pushed many companies to re-evaluate project design and costs, leading to significant delays in investment execution.
Out of all the investments tracked by Industrial Info, 72%, or US$17.9 billion, are in the planning phase, while 28%, or more than US$7 billion, are in the engineering or construction phases.
Current Outlook and Projection to 2026
More than 340 projects, valued at more than US$9.7 billion, are expected to begin construction between 2025 and 2026. During this period, investment trends in the metals and minerals sector are expected to continue, with mining accounting for 63% and the steel sector 12% of the total investment.
The steel industry is one of the most developed parts of Mexico's industrial base, supplying strategic sectors like construction, automotive, infrastructure and manufacturing. The USMCA trade agreement of 2020 has been a major driver of steel-sector growth, positioning Mexico as a key commercial partner for the U.S., especially in automotive, construction and home appliances.
In recent years, the rise in automotive investment--especially in electric vehicle (EV) production--and the nearshoring trend have boosted steel demand, encouraging new investment. A clear example of this is Ternium S.A.'s (Luxembourg, Luxembourg) expansion of a direct reduced iron plant in Pesquería, Nuevo León. Subscribers can learn more from a detailed project report and plant profile.
According to Industrial Info, more than 423 automotive projects are planned to begin between 2025 and 2026, with investments exceeding US$8 billion. The largest states for investment are Guanajuato, Nuevo León, Jalisco, Coahuila and Querétaro, accounting for 69% of the market with more than US$5 billion. Some key projects include:
- Nidec Corporation's (Kyoto, Japan) new EV plant in Guanajuato; see project report
- Great Wall's (Baoding, China) EV plant in Santa Catarina, Nuevo León; see project report
- an expansion of Ford's (Dearborn, Michigan) Irapuato plant in Guanajuato; see project report
Some key steel projects expected for 2025--2026 include:
- Grupo Arzyz's (Apodaca, Mexico) expansion of an aluminum recycling plant; see project report
- Posco's (Pohang-si, South Korea) new galvanized steel line in Altamira; see project report
- ArcelorMittal's (Luxembourg, Luxembourg) expansion of a rolling mill in Lázaro Cárdenas; see project report
Ending this stagnation and advancing project development will help Mexico maintain and expand its strategic role in mining in a world increasingly focused on critical minerals.
Industrial Info Resources (IIR) is the leading provider of industrial market intelligence. Since 1983, IIR has provided comprehensive research, news and analysis on the industrial process, manufacturing and energy related industries. IIR's Global Market Intelligence (GMI) platform helps companies identify and pursue trends across multiple markets with access to real, qualified and validated plant and project opportunities. Across the world, IIR is tracking more than 200,000 current and future projects worth $17.8 trillion (USD).
