Thursday, October 1, 2015

Land and Resources in Mexico

Petroleum is one of Mexico's largest natural resource. Mexico's petroleum is controlled by the Petroleos Mexicanos,(PEMEX for short). PEMEX's state taxes is financed at 61%, as much as a third of the nation's budget.

Mexico's reliance on petroleum is proven to be so important that according to the 2006 elections Mexico's Petroleum, "some see allowing PEMEX to partner with private companies as the only way to keep the petroleum giant (and the country) financially stable. Others argue that the government should keep control of petroleum production precisely because Mexico relies so heavily on fossil fuels. There is no argument that PEMEX is the financial backbone of Mexico, but the elections and the question of how the country’s most valuable resource should be used has stirred up allegations of corruption and greed. The continued success of Mexico’s fossil fuel industry is directly linked to the prosperity of the country itself. As the known reserves dwindle and production slows, it is clear that the next few years will be crucial to determining Mexico’s continued stability."

Mexico is currently ranked as the world's ninth largest mining producer and the fourth in Latin America. Mexico is also currently the largest in producing silver and bismuth. It is expected that Mexico will continue to be the largest silver producer in the next decades due to production increases programmed by big mining industries like Coeur d'Alene, Goldcorp, etc.
"According to the National Institute of Statistics and Geography (INEGI), in 2010 Mexico produced 79.37 tons of gold (27% more than in 2009), 4.41 billion tons of silver, 270 billion tons of copper, 192 billion tons of lead and almost 14 billion tons of zinc."

Map of the mining industries:

The demands for such minerals will continue to rise. In addition, Mexico's mining industry will continue to grow. The country produces roughly 100 million ounces a year, however, it is estimated that nearly 80% of its reserves have been spent. Still, Mexico has approximately 1.5 billion ounces left underground. This ensures that Mexico will remain a world leader in silver production.

Team Mexico: Tzu-Huan, Tzu Heng, Viri, Jose

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