Reuters reported that Mexico’s mining chamber said at least 50 silver, gold, copper and zinc projects are attractive targets for mergers or acquisitions and high metals prices will draw USD 4.4 billion in mining investment to the country this year.

Mr Sergio Almazan head of the chamber said that investment will jump 7.3% in 2011 compared to last year the boost driven in part by expansion plans at the giant Cananea copper mine owned by Grupo Mexico.

Mr Almazan said that Mexico’s copper production is seen rising to 31% this year to 350,000 tonnes slightly below forecasts made by the chamber made last September. In copper we hope to return to the levels we had in 2007 before the strike began at the mine.

Mr Eduardo Luna director of precious metals miner Primero said that the ground is fertile for acquisitions, with 738 exploration projects in Mexico. There are around 50 projects that are being studied by different companies that have the possibility to be developed beyond the capacity of their actual owners. Definitely there will be mergers and acquisitions.