Mexico’s exports hit $444B USD, up +9% vs. 2024’s $406B in the same period. But the growth isn’t evenly spread.
Some sectors are thriving. Others are stalling. And one commodity sector is quietly outperforming expectations with just 139 active exporters.
Machinery has become the top driver of value growth
Automotive is shrinking despite more exporters
Several food, beverage, and light manufacturing categories saw mild declines
Hidden Gem: Ores, Slag and Ash
While only 139 companies are active in this niche, Mexico’s ore exports surged +25% YoY to $8B USD.
This sector is small in exporter count, but big in strategic value:
Average export value per company: ~$58 million
Aligned with global demand for critical minerals (e.g. copper, zinc)
Quietly becoming a pillar for U.S. clean energy supply chains
This is one of the most efficient, high-output categories per exporter in Mexico’s entire trade profile.
Minera Media Luna
Growth: +7,622% | Exports: $127M (up from $2M) This is the most explosive growth case among all Mexican exporters, not just in the ore category. A subsidiary of Torex Gold Resources (Canada), Minera Media Luna operates in Guerrero and recently expanded operations at its Media Luna gold-copper project. This surge likely reflects the start of commercial-scale production, a major milestone that converted the company from a marginal exporter into a top 10 player in a single year.
Strategic implication: New production phases or reactivation of stalled projects can radically shift export rankings—particularly in mining, where CAPEX cycles are long but steep.
Minera Peñasquito
Growth: +96% | Exports: $1.66B (up from $845M) A flagship asset of Newmont Corporation (U.S.), Peñasquito is one of Mexico’s largest polymetallic mines (gold, silver, lead, zinc). The near doubling of export value in 2025 reflects both higher production volumes and possibly better market prices for precious and base metals. Peñasquito alone now accounts for nearly 20% of all ore export value.
This is scale-based growth: Not a newcomer, but a major player expanding on top of an already massive operation.
Comercializadora de Metales Peñoles
Growth: +42% | Exports: $188M (up from $133M) This company handles metal sales for Grupo Peñoles, one of Latin America’s largest mining and metallurgy groups. Its rebound after a sharp –49% decline in 2024 suggests a normalization of supply chains, possible price stabilization, or increased throughput from Peñoles-affiliated mines. Though smaller than others in dollar terms, its turnaround is notable.
A strong comeback story, reflecting the volatile but resilient nature of metal commercialization in global markets
These growth stories underscore a broader shift in Mexico’s mining export landscape: it's no longer just about established giants maintaining volume—new entrants and reactivated sites are now reshaping the top rankings. With global demand rising for strategic minerals tied to clean energy, electronics, and battery production, Mexico’s ore exporters are well-positioned to benefit—especially those with diversified portfolios across gold, copper, zinc, and molybdenum.
As export values grow and new mines come online, monitoring shipment-level trends and company trajectories will be key to understanding how Mexico’s extractive sector aligns with U.S. and global supply chain priorities in 2025 and beyond.
