SE: Mining Sector has Captured US$ 16.717 billion

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The Secretary of Economy, Bruno Ferarri confirmed that the mining sector contributes 4.9% of the Gross Domestic Product (GDP) and has captured US$16.717 billion during this administration.

During his participation in the Mexican Mining Day Conference, held as part of the biggest mining fair in the world, the Prospectors and Developers Association of Canada Expo, the federal official emphasized that this figure is 224% higher than the US$5.159 billion obtained during the previous government.

Addressing international investors in the sector, Mr. Ferrari García de Alba, underlined the actions initiated by the federal government to improve the business environment and assured them that Mexico's economic stability has driven growth in a complex global environment.

The head of the SE said that Mexico is the foremost country in Latin America and the fourth worldwide in receiving investment for mining exploration, and reported that at last year's close, mining had generated 309,722 direct jobs, 9.13% more than in 2009.

It is worth mentioning that mining investment will reach US$20 billion in this six-year term, while the amount of investment in the sector reached US$16.717 billion in the 2007-2011 period. In addition, the sector has generated 309,702 direct jobs up to 2011 and gold production increased 250% from 2003 to 2010.