Mexico Mining Activity Sees Boost from Rising Metal Prices

The Bank of Mexico reported that mining activity in the country saw a boost due to the rise in international prices of industrial metals, particularly copper, lead, and zinc. In the second quarter of 2026, non-oil mining grew by 0.8% compared to the first quarter, with seasonally adjusted figures, and 5.0% at an annual rate.

The strong growth was driven by services related to mining, while oil and gas extraction slowed down the recovery seen in previous quarters. By region, mining activity rose 2.0% quarter-on-quarter in the south and 0.6% in the center, with seasonally adjusted series.

In contrast, it fell 3.3% in the north-central region and 2.7% in the north, after having grown 5.6% in the first three months of the year. The price rebound is not new for the sector: the value of Mexico's mining-metallurgical production reached a record 379.290 billion pesos in 2025, an increase of 21.2%, driven by higher international prices for precious metals.