Mexico Mining Industry Fiscal Regime Analysis – Governing Bodies, Regulations, Licensing Fees, Taxes, Royalties, 2023 Update

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Mexico Mining Industry Report Overview

Mining is an important part of economic, political, social, and cultural history in Mexico and the country is among the world’s largest metal producers. Mexico is the largest producer of silver in the world and a top global producer of gold, copper, and zinc, amongst other minerals.

The Mexico mining industry report provides a comprehensive coverage of Mexico’s fiscal regime in the concerned sector. The report focuses on key aspects such as governing bodies, laws and regulations, governance frameworks, and sustainability practices. A detailed overview of mining-related taxes and royalties is also included in the report. These critical topics will help improve business performance and reach desired goals.

Governing Bodies •         The Mining Chamber of Mexico (CAMIMEX)

•         Ministry of Economy (SE)

•         Ministry of Energy (SENER)

•         Ministry of the Environment and Natural Resources (SEMARNAT)

•         Mexican Geological Service

Key Laws •         Mining Laws and Regulations

•         Official Mexican Standards (NOMs)

•         Federal Labour Law

•         Port Law

•         General Law of National Assets

Taxes and Royalties •         Corporate Income Tax (CIT)

•         Value Added Tax

•         Real Estate Transfer Tax

•         Withholding Tax

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Mexico Mining Industry - Governing Bodies

A few of the chief agencies governing the Mexico mining industry include The Mining Chamber of Mexico (CAMIMEX), the Ministry of Economy (SE), the Ministry of Energy (SENER), the Ministry of the Environment and Natural Resources (SEMARNAT), and Mexican Geological Service.

The Mining Chamber of Mexico (CAMIMEX): CAMIMEX promotes the development of the national mining-metallurgical industry and ensures its associates’ access to programs aimed at the development of trade and industry in the sector. The chamber also promotes coordination and integration with local or regional chambers, groups, and associations to strengthen sectoral representation.

Governing Bodies in the Mexico Mining Industry
Governing Bodies in the Mexico Mining Industry
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Mexico Mining Industry – Mining Laws

A few of the main laws governing the mining industry of Mexico are Mining Laws and Regulations, Official Mexican Standards (NOMs), Federal Labour Law, Port Law, and General Law of National Assets,  among others.

The Mexican Mining Law, its Regulation (collectively the Mining Law), and Article 27 of the Mexican constitution regulate the country’s mining industry. According to Article 27 of the Political Constitution of the United Mexican States, natural resources are the nation’s heritage, and the federal government sets the rules for the resources. In addition, there are many secondary laws complementing this article, and also establishing a regulatory framework.

Port Law: This law looks after public order and observance throughout the national territory. The Port Law regulates ports, terminals, marinas, and port facilities and oversees their construction, uses, exploitation, operation, protection, forms of administration, as well as the provision of port services.

Mining Laws in Mexico Mining Industry
Mining Laws in Mexico Mining Industry
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Mexico Mining Industry – Taxes and Royalties

The main taxes applicable in the Mexico mining industry are the Corporate Income Tax (CIT), Value Added Tax, Real Estate Transfer Tax, and Withholding Tax, among others.

Corporate Income Tax (CIT): Capital gains or corporate tax is payable after the trade of real estate properties. All revenue derived from fixed properties, real estate, or shares automatically becomes taxable at the rates of corporate tax. Moreover, all non-Mexicans who own commercial shares from Mexican companies must pay a gross profit tax or pay a net income if they represent the country. All shares traded by non-Mexicans may also have a retention tax.

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Recent Development

  • In April 2023, Mexican President Andres Manuel Lopez Obrador approved the New Mining Law, which reduces the concessions in the mining sector to 30 years (with possible one-time extension of another 25 years), from earlier 50 years (with further extension possible for 50 more years).

Scope

  • GlobalData’s “Mexico Mining Industry Fiscal Regime Analysis, 2023 Update” report provides comprehensive coverage of Mexico’s mining fiscal regime.
  • The report provides the country’s overview with macroeconomic performance, corruption index, and mineral overview.
  • The report offers comprehensive coverage of the country’s mining regulatory bodies, laws, rights, and obligations, as well as current and future tax-related proposals.

Reasons to Buy

  • Enhance your decision-making capability in a more rapid and time sensitive manner.
  • Find out Mexico’s governing bodies and major laws in the industry.
  • Identify various mineral licenses and fees.
  • To gain an overview of Mexico’s mining fiscal regime.

Table of Contents

Executive Summary

Country Overview

Mineral Overview

Government Bodies

Mining Laws and Regulations

Rights and Concessions

Free Trade Agreements

Mining Taxes and Royalties

Sustainable Mining Practices

Appendix

Table

Table 1: Mexico’s Mining Fiscal Regime – Ease of Doing Business, Global Ranking, 2019-2020

Table 2: Mexico’s Mining Fiscal Regime – Mexico’s Top Mineral Products by Ranking and Share (%), 2020

Table 3: Mexico’s Mining Fiscal Regime – Federal Agencies, 2021

Table 4: Mexico’s Mining Fiscal Regime – Key Laws and Regulations, 2021

Table 5: Mexico’s Mining Fiscal Regime – Tax Rates, 2021

Table 6: Mexico’s Mining Fiscal Regime – Withholding Tax, 2021

Table 7: Mexico’s Mining Fiscal Regime – Fixed Assets Tax Depreciation, 2021

Figures

Figure 1: Mexico’s Mining Fiscal Regime – Country Overview, 2021

Figure 2: Mexico’s Mining Fiscal Regime – Nominal GDP (US$ Billion) and Real GDP Growth Rate (%), 2001-2020

Figure 3: Mexico’s Mining Fiscal Regime – Mineral Exports and FDI, 2011-2020

Figure 4: Mexico’s Mining Fiscal Regime – Ease of Doing Business, Global Ranking, 2019-2020

Figure 5: Mexico’s Mining Fiscal Regime – Corruption Perception Index Rank, 2015-2020

Figure 6: Mexico’s Mining Fiscal Regime – EoDB and CPI Ranking, 2020

Figure 7: Mexico’s Mining Fiscal Regime – Minerals Production Trend, 2011-2020

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