Grupo Mexico focuses on organic growth
Feb 26, 2013 | 01:22 PM
| Andrea Hotter
CANCUN, Mexico Copper, zinc and molybdenum producer Grupo Mexico SAB de CV is focusing on expansions and greenfield projects to secure growth rather than mergers and acquisitions.
"We have large reserves. To continue in the long term, to be a profitable and sustainable business, we have to develop them," executive president Xavier Garcia de Quevedo Topete told AMM. "We dont need to look at mergers and acquisitions; not only is there no need, but also the market conditions are not there. We havent even looked at which assets might be available as weve been very active in developing our own reserves."
He estimated that less than 30 percent of Mexicos ore reserves have been developed.
"Mining is the starting point of the production chainwe need to create jobs, especially in isolated regions. If miners invest in people, in communities, in the right way, there shouldnt be any problems," Garcia de Quevedo said. ....
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