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LatinNews Daily - 31 August 2021

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In brief: Mexico’s mining sector sees lower investment

* Mexico’s mining chamber (Camimex), which represents the country’s largest mining companies, has announced that the mining sector invested US$3.18bn in Mexico in 2020, 35% less than in 2019. Figures released by Camimex also show that the sector, which accounted for 2.3% of Mexico’s GDP in 2020, recorded comparatively modest job losses, with the total number of people directly employed in the mining sector falling from 379,093 in 2019 to 367,935 in 2020. This was the result of measures taken in response to the coronavirus (Covid-19) pandemic which forced the cessation of all mining activity from 23 March to 12 May 2020. However, the recovery of the prices of metals last year meant that the total value of mining production in Mexico was actually higher in 2020 than in 2019, rising from US$11.85bn to US$13.95bn.