The Mexican government estimates that iron ore exports will be $44.7 million, a figure that exceeds 21.7 percent of the value exported in 2023, according to the forecasts of the Ministry of Economy released in a document. The figure stands out because historically iron ore exports do not exist in the database of the national statistics agency Inegi.
According to the Ministry of Economy, in 2023 Mexico exported $36.7 million of iron ore and imports, according to Inegi, in the same year were $395 million.
In 2022, $376 million were imported and in 2021 $507 million, which reflects that Mexico is in deficient in terms of iron ore production.
This year, $101 million was imported in the period from January to July, 55.9 percent less than the $228 million of iron ore imported in the same period last year.
According to the Inegi database, there are no records of exports. The Mexican Mining Chamber (Camimex) highlighted in a document that the American company Chilco River bought the Mexican company Leuffer Desarrollos, a company that extracts and exports iron ore to the United States, China and Hong Kong.
According to Chilco River, Mexico is the twelfth largest producer of iron ore in the world, with the potential to be in the top 5 in the next 2 to 3 years.