Mining for silver has been documented in Mexico for centuries. It may come as a surprise, however, that the country is a major producer of this metal worldwide. About 20% of the world’s supply of silver comes from Mexico alone. Whereas mining activities have remained outdated for long, they can now be improved furthermore thanks to the latest mining technology and industry practices. With these, not only will the industry improve, but it will have the potential to become more profitable for mining companies and the nation alike.
Setting up a Silver Mining Industry in Mexico
If your company has been interested in starting its own mining operations in Mexico, you should not hesitate any longer. This is the place to start your operations as it is quite easy to work along the Mexican government. Because of new legislations, getting a permit to start mineral excavation and mining operations are not going to be a problem. The government is liberal to permits as the profits gained benefit both the economy and society.
Problems Related with Mining Silver in Mexico
The problems currently faced in the Mexican silver mining industry affect the miners and employers at the same time. The tax levied on mining operations amounts up to 7.5% which endangers companies’ profits greatly. Furthermore the dip in silver prices may also force mining companies to set up shop elsewhere in South America or the world for that matter.
To earn profits worth their time and investment, companies have to be able to work efficiently while taking advantage of subsidies that have been cut down with the 21% drop in silver prices.
Increasing Productivity and Efficiency
There have been instances where the jump in production has primarily been credited to the integration of new and better equipment. These machines bring about greater efficiency and allow their users to access reserves deeper within the earth.
However, if you are inspired to follow suit, keep in mind that investing in such equipment and machinery can only be justified by the potential of silver that can be unearthed by such companies. With this information, make sure to help improve the silver mining in Mexico and maximize your profits at the same time.