Grupo Mexico focuses on organic growth
Feb 26, 2013 | 01:22 PM
| Andrea Hotter
Tags
Grupo Mexico,
zinc,
copper,
molybdenum,
Xavier Garcia de Quevedo Topete,
Mission Mine,
Ray Mine,
Buenavista
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 don’t need to look at mergers and acquisitions; not only is there no need, but also the market conditions are not there. We haven’t even looked at which assets might be available as we’ve been very active in developing our own reserves."
He estimated that less than 30 percent of Mexico’s ore reserves have been developed.
"Mining is the starting point of the production chain—we need to create jobs, especially in isolated regions. If miners invest in people, in communities, in the right way, there shouldn’t be any problems," Garcia de Quevedo said. ....
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