The primary refinery production of copper in Mexico stood at 467.69 Thousand Metric Tons in 2023. Over the last decade, the industry has experienced various fluctuations, from a high growth rate in 2014 at 27.46% to a significant decline in 2020 at -16.16%. More recent figures show stabilization, with 2023 experiencing a modest increase of 0.92% year-on-year. The Compound Annual Growth Rate (CAGR) for the past five years has averaged 1.61%, indicating a period of gradual recovery and relative stability since the sharp drop in 2020.
Future trends to watch for include:
- Continued stabilization and modest growth, with a forecasted 5-year CAGR of 0.74% up to 2028.
- The impact of global copper prices and demand driven by sectors such as renewable energy and electric vehicles.
- Advancements in refining technologies and their potential effects on production efficiency.
- Government policies and environmental regulations affecting the mining and refining sectors.
- Potential expansions or investments in mining infrastructure to boost production capacity.
