Mexico’s mining chiefs were among Andrés Manuel López Obrador's most vocal critics in the run up to the July 1 polls, warning his policies would lead to a Venezuela-style economic collapse. But these fears have been quickly forgotten - at least for the moment - as the president-elect struck a conciliatory tone in his victory speech and calmed jitters through meetings with key business leaders. AMLO’s landslide win, on the back of a campaign focused on corruption and poverty, was followed by a surge in the peso rather than a run on the banks.
Mining leaders appeared equally keen to bury the hatchet. Germán Larrea, CEO of Grupo México, who had urged voters to reject AMLO, congratulated the left-wing Morena party leader and pledged to co-operate to deliver growth. Whether this is the start of a lasting partnership between government and mining or a brief honeymoon period will depend on AMLO’s actions once he takes power on December 1.
Opinions are divided over who exactly AMLO the politician is.
2. AMLO and Mining
- Figure: Mexico GDP Growth
3. Road to Recovery
- Figure: Mexico Mining Investment
- Figure: Project Pipeline
4. Security: A Fresh Approach
Figure: Gold and Silver Output
5. Union Frictions, Empowered Communities
- Figure: Copper Output
6. Royalties, Regulations and Environment
- Figure: Mining Production Value
7. Conclusion and Outlook