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1 SPECIAL FEATURE Mexico Spreads its Wings in IT The Lifestyle Feature A Land of Scenic Beauty and Adventure Negocios para exportadores The Mining Industry in Mexico: A Golden Opportunity II

2 The government of Mexico has set out to transform our country based on five major national goals: to have a peaceful, inclusive, well-educated, prosperous and globallyresponsible Mexico. In order to build the prosperous Mexico we long for, we must generate sustained high economic growth that results in more and better jobs that will improve the quality of life of our population. Mexico has a solid foundation on which to attain these goals: healthy public finances; a manageable debt level; a budget with no fiscal deficit; a responsible and autonomous monetary policy, as well as adequate international reserves. Our macroeconomic stability and institutional strength are enriched by a wide sociopolitical consensus that favors important transformations required to boost the development of our country. Through the Pact for Mexico, two constitutional reforms have been approved: one in education that will enhance the quality of teaching, and another in telecommunications, radio broadcasting and economic competition that will open up the sector and ensure competition throughout our economy. Furthermore, the Congress is analyzing a financial overhaul to increase the level of credit and make it more affordable. Mexico offers certainty and confidence to investments, a business climate favoring productivity and competitiveness, and an ambitious plan to further develop infrastructure. Moreover, the country s strategic geographic location and optimal legal framework for international trade, through a network of trade agreements with 45 countries, give us access to a potential market of over one billion people. Mexico s exceptional economic and geographic conditions, as well as the talent and quality of its human capital, make it the ideal destination for new productive capital to flourish. This is the time to invest in Mexico. Investors will find the government of Mexico and ProMéxico to be allies committed to the success of projects that create quality jobs and prosperity for the country. Enrique Peña Nieto President of Mexico

3 Table of Contents February Business Tips Mexico and Information Technologies Guest Opinion Mexico: A Network of Opportunities Guest Opinion Mexico s Competitiveness as a Mining Investment Destination Figures 28 cover feature The Mining Industry in Mexico A Golden opportunity photo courtesy of essa 6 From ProMéxico 7 Briefs Mexico s Partner photo archive 12 Special Feature Mexico Spreads its Wings in IT Corporativo Tecnológico de Jalisco Orcius Praxis Dotnet Clúster Minero de Zacatecas Goldcorp New Gold Torex Gold Exportadora de Sal Stam

4 TAN The Lifestyle The Complete Guide to the Mexican Way of Life Para exportadores ProMéxico Francisco N. González Díaz CEO Karla Mawcinitt Bueno Image and Communications General Coordinator Sebastián Escalante Director of Publications and Content 54 Advertising photo archive photo courtesy of oro de monte albán 58 Oro de Monte Albán, a Living Legacy 60 Of Enviable Body and Irresistible Flavors, Mexico s Craft Beers Are Out to Impress 50 The Lifestyle Briefs A Land of Scenic Beauty and Adventure photo courtesy of baja brewing company 64 Women Working to Advance Mexico photo tim witlow photo courtesy of conade ilustración oldemar fotos archivo foto archivo De ProMéxico 70 TLCAN: 20 años, 20 datos En 2014 se cumplen 20 años de la entrada en vigor del Tratado de Libre Comercio de América del Norte (TLCAN), entre México, Estados Unidos (EE.UU.) y Canadá. Hoy, el acuerdo es un referente del comercio multilateral y piedra angular de la globalización y del crecimiento de los países socios. Negocios comparte 20 datos interesantes relacionados con este instrumento. México es el país emergente con mayor IED de EE.UU. Japón Alemania La región del TLCAN es la zona de libre comercio más extensa a nivel global. Cerca de 474 millones de pesonas (7 de cada 100 hab. del mundo) comercian libremente en la región. MÉXICO ES EL TERCER PROVEEDOR MÁS IMPO Produce bienes y servicios con un valor de 19 millones de millones de dólares por año. El intercambio comercial entre los socios del TLCAN se estima en más de 100 millones de dólares por hora. MÉXICO ES DE CANADÁ Y EL QUINTO COMPRADOR DE ESTE PAÍS. Representa más de 1/4 del Producto Interno Bruto (PIB) mundial desde EE.UU. y Canadá más que de China Japón 76 Las tecnologías de la información: un terreno fértil entre México y Estados Unidos 71 México y Brasil: economías emergentes con oportunidades comerciales comunes Sobre los nuevos retos y el empresario en México Tratado de Libre Comercio de América del Norte: 20 años, 20 datos breves Natalia Herrero Copy Editing Download the PDF version and read the interactive edition of Negocios ProMéxico at: negocios.promexico.gob.mx This publication is not for sale. Its sale and commercial distribution are forbidden. Negocios ProMéxico es una publicación mensual editada en inglés por Pro- México, Camino a Santa Teresa número 1679, colonia Jardines del Pedregal, Delegación Álvaro Obregón, C.P , México, D.F. Teléfono: (52) Página Web: Correo electrónico: Editor responsable: Gabriel Sebastián Escalante Bañuelos. Reserva de derechos al uso exclusivo No Licitud de título: Licitud de contenido: 12032, ambos otorgados por la Comisión Calificadora de Publicaciones y Revistas Ilustradas de la Secretaría de Gobernación. ISSN: Negocios ProMéxico año 7, número II-2014, febrero 2014, se terminó de imprimir el 15 de febrero de 2014, con un tiraje de 14,000 ejemplares. Impresa por Cía. Impresora El Universal, S.A. de C.V. Las opiniones expresadas por los autores no reflejan necesariamente la postura del editor de la publicación. Queda estrictamente prohibida la reproducción total o parcial de los contenidos e imágenes de la publicación, sin previa autorización de ProMéxico. Publicación Gratuita. Está prohibida su venta y distribución comercial. ProMéxico is not responsible for inaccurate information or omissions that might exist in the information provided by the participant companies nor of their economic solvency. The institution might or might not agree with an author s statements; therefore the responsibility of each text falls on the writers, not on the institution, except when it states otherwise. Although this magazine verifies all the information printed on its pages, it will not accept responsibility derived from any omissions, inaccuracies or mistakes. February 2014.

5 BRIEFS From proméxico. Welcome to Negocios! The future of mining in Mexico shines like gold. Aside from the country s experience as a traditional miner, its abundance of mineral resources and the fact that this activity remains as an important source of national income, employment and development, Mexico is one of the main destinations in the globe for mining investment due to its macroeconomic stability, ideal business climate, world-class infrastructure, solid legal framework and highlyskilled human capital. In Mexico s mining industry, the numbers speak for themselves. In recent years, the sector has recorded unprecedented investment, significantly increased its production capacity and secured a growing share in international markets for several minerals. Mexico is the foremost silver producer in the world and one of the leading producers of gold and copper in Latin America. A promising future can also be envisioned for the Mexican information technologies (IT) industry, where in a short period of time and thanks largely to Mexico s talented and enterprising human capital, the country has earned a leading spot worldwide. Moreover, the IT sector has benefited from Mexico s geostrategic location, close to the largest market in the globe the United States. For instance, Mexico is the best destination in the Americas for service location abroad. The country offers the most competitive costs in the hemisphere for software development. And, as if all those facts were not enough, all of the country s efforts have positioned it as the third largest supplier of IT services worldwide. Mexico s leadership in these industries will reach new horizons, since the federal government has promoted various reforms in order to boost the country s competitiveness even further. These sectors are only waiting to be tapped by foreign entrepreneurs. Eureka! is what investors will exclaim once they discover the golden opportunities that Mexico has to offer in the mining and IT industries; prospects that favor the establishment of any new productive project. Francisco N. González Díaz CEO ProMéxico FOOD & BEVERAGES Refreshened Investment PepsiCo, Inc. plans to invest 5 billion USD in Mexico over the next five years. The investment is designed to further strengthen PepsiCo s food and beverages business in Mexico. PepsiCo has a long and successful history in Mexico, a key country in the company s global growth plans. The firm s investment is expected to create 4,000 new jobs and will focus on four key strategic priorities: 1. Innovation & Brand Building: PepsiCo intends to continue to invest behind its group of iconic food and beverages brands and expand the range of products in its portfolio to cater to the wide and evolving needs of Mexican consumers. In addition, PepsiCo will work to further strengthen its research and development capabilities, such as the firm s state-of-theart Global Baking Category Innovation Center in Monterrey. 2. Infrastructure: PepsiCo has plans to expand its production capacity by adding new manufacturing lines to meet growing consumer demand. The corporation also intends to invest in additional selling and delivery infrastructure throughout the country, including new technologies designed to enhance service to retail customers and increase efficiency across go-tomarket systems. 3. Agriculture: PepsiCo will work to strengthen its partnerships with local farmers and invest in sustainable agriculture programs that benefit both the company and the growers by improving yields, protecting resources and boosting demand. 4. Community: The PepsiCo Mexico Foundation will continue to invest in local communities and societal development projects. photo courtesy of pepsico

6 BRIEFS BRIEFS TRANSPORT Moving Mexican Cities France-based transport and energy multinational Alstom plans investment of up to 2.4 billion USD in Mexico. Projects in planning include a Mexico City metro expansion, inter-city rail lines and upgrades to the Monterrey metro system, as well as bids on energy tenders in the country. photo archive photo archive PETROCHEMICAL Drilling Project for Pemex Oil drilling contractor Perforadora México, a subsidiary of Mexican extractive industries conglomerate Grupo México, will invest 400 million USD to install four new drilling platforms in shallow and medium depth waters of the Gulf of Mexico. The rigs will provide drilling services for state-owned Petróleos Mexicanos (Pemex). photo archive IT Cisco: Firm Steps in Mexico US-based network technology multinational Cisco Systems will invest approximately 1.35 billion USD in its Mexico operations in Planned projects include a new support center in Mexico City, expanded production of advanced technology products and the expansion of the Cisco Networking Academy program. The expansion of manufacturing of advanced technology products in Mexico through contract manufacturers will deliver products for the information technologies (IT) market worldwide. These lines of products are exported from Mexico to more than 90 countries, expanding Mexico as a global hub for advanced technology manufacturing. Additionally, the investment will cover the recently announced Cisco Support Center (CSC) in Mexico City, which will support local and regional operations and create the capacity to service customers in the Spanish language. Cisco also plans to expand its Networking Academy program to help Mexico increase the pool of highlyskilled workers required to support Mexico s growing technology sector. The Networking Academy is a cloud-delivered program designed to help students develop the practical skills PETROCHEMICAL needed to design, build, secure and maintain computer networks. Cisco currently has around 600 employees in Mexico, working on sales, services and support in offices in Mexico City, Guadalajara and Monterrey, and in Ciudad Juárez focused on Cisco manufacturing operations. Business partners employ over 5,800 Mexicans dedicated to Cisco production. Pemex s First Solidifying Sulphur Plant RETAIL Growing Steadily Mexican grocery and general merchandise retailer Comercial Mexicana plans to invest approximately 197 million USD in Projects include the opening of 11 new units with a focus on the upscale City Market format convert and remodel existing five and build four commercial spaces. photo archive photo archive Mexico s state-owned oil company Petróleos Mexicanos (Pemex) will invest over 38.1 million USD to install a sulphur processing plant in the port area of Coatzacoalcos in the state of Veracruz. With a processing capacity of 360,000 tons a year, the factory will transform liquid sulphur from Mexican refineries and gas-processing complexes into solid sulphur for export. The firm will install the plant through its subsidiary PMI Trading Ltd., which has signed a commercial agreement with Pemex Gas y Petroquímica Básica (PGPB), a division producing one million tons of liquid sulphur a year. The company expects to boost its sulphur output by over 50% via increasing clean fuel production.

7 BRIEFS BRIEFS photo archive photo courtesy of sca PERSONAL CARE SCA s New Distribution Center Swedish personal care products manufacturer SCA established a new distribution center in the state of Hidalgo via investment of 10 million USD. SCA is a leader in the Mexican market for absorbent pads for personal hygiene. AUTOMOTIVE RENEWABLE ENERGY Grupo Alfa in the Search for Clean Energy Mexican diversified industrial conglomerate Grupo Alfa received a permit from the Energy Regulatory Commission (CRE) to develop a wind energy plant in the northeastern state of Tamaulipas. The planned project, estimated at a cost of 125 million USD, would provide power to Alfa s subsidiaries Nemak (auto parts) and Akra Polyester (synthetic fibers). The 62.7-megawatts (MW) Tres Mesas project is being developed in the Llera de Canales municipality. The plant will use 19 turbines of 3.3 MW and its construction will be completed by December Smooth-running Investment German auto parts maker Ronal Group will establish a manufacturing plant in the state of San Luis Potosí. The 125-million USD site is planned to produce alloy wheels for regional Original Equipment Manufacturers (OEM) such as Volkswagen (VW), Audi, Mercedes Benz, BMW and General Motors (GM). The facility will have an annual production capacity of two million wheels. photo archive photo archive photo courtesy of mazda METALLURGICAL Posco Boosts its Production South Korean steel processor Posco inaugurated a major expansion of its manufacturing facility in the state of Tamaulipas. The 300-million USD project will boost production of galvanized steel sheeting for the regional automotive industry. PETROCHEMICAL Swedish polymer compound producer Hexpol plans to expand capacity at its plants in the states of Aguascalientes and Querétaro. Rubber compounding lines will be added to meet fast growing demand in the region. The rubber compounder has just installed a third line at its Aguascalientes facility, giving it three mixers at the AUTOMOTIVE Mazda Launches Production in Mexico Japanese automaker Mazda initiated production at its new vehicle plant in Mexico. The 770-million USD plant, named Mazda de Mexico Vehicle Operation (MMVO) and located in Salamanca, in the state of Guanajuato, will produce the company s Mazda3 model for the US market, as well as for other countries in the Americas and Europe. Moving forward, Mazda intends to strengthen its production system in Mexico and expand the production model line-up to include the Mazda2. Mazda has sold approximately 180,000 vehicles in Mexico since it entered the market in In 2013, the brand sold a record 33,000 units in the country. Hexpol, Stretching its Presence in Mexico unit with a total capacity of 24,000 metric tons a year. The new line is currently running trials. Plans are in place to add a second mixing line at its Querétaro site, adding 12,000 tons a year to its current 29,000 tons of capability. The line will be installed in the second and third quarters of 2014, with production slated to begin in next year s fourth quarter. Both Hexpol facilities in Mexico are located in what is known as the country s Automotive Triangle. Hexpol currently employs about 200 people between its two plants in Mexico. photo archive

8 Negocios ProMéxico Special Feature photos archive Special Feature Negocios ProMéxico Mexico Spreads its Wings in IT In the last 10 years, Mexico has become a world reference in information technologies (IT). Now the industry looks towards the future supported by a favorable environment and the implementation of legal reforms and government programs. The development of the IT sector in Mexico is relatively new but in the last decade the industry has exploded and is today a world reference. Allard reveals that from 2003 and 2004, we recorded growth rates above the Gross Domestic Product (GDP). Between 2010 and 2012 we had significant growth; in 2009, amid the financial crisis and the world economy, there was a drop but the sector quickly began to recover and from 2012 recorded growth of between 13% and 15% a year. by jesús estrada cortés In the 20th century, when we envisioned the future, we imagined the 21st century full of flying cars and mass space travel. Now the future is here and the most important advances in social and economic terms come not from sci-fi dreams but from IT, an industry that has connected the planet and continues to expand, especially in Mexico, with growth indicators recorded over more than 10 years which have positioned the country as the sixth largest IT services provider worldwide. The IT and telecommunications sector is fundamental in the digital economy age. The world is interconnected; out of 7 billion inhabitants on the planet, almost 4 billion are connected via mobile phones and the Internet, says Javier Allard, director of the Mexican Association of the Information Technologies Industry (AMITI), who adds that the entire world is predicted to be connected by Once upon a time, the talk was about the information society and knowledge; now we find ourselves in the digital economy age, where success in the generation of wealth lies in the capacity to handle information, which is why IT is taking on an increasingly important role, explains Allard. Today s society and economy revolve around the IT ness, details Fierro. This shows us the sector is buoyant and growing, Allard points out. He also identifies some challenges, such as the industry s contribution to absolute wealth in the GDP. The IT segment, excluding telecommunications, invoiced 18 billion USD in In 2013, in the best case scenario, we re going to do the same, due to the world s economic problems and a modest investment from government spending in IT activities such as services and software. Nevertheless, the IT boom in the country continues. For Víctor Gutiérrez Martínez, president of the National Chamber of the Electronics, Telecommunications and Information Technologies Industry (CANIETI), the information, electronics and telecommunications technologies industries are highly competitive and are going into 2014 with positive numbers, growing above Mexico s GDP and with better growth expectations compared to 2013 in terms of sales volumes and the expansion of research and development centers. Gutiérrez Martínez explains that in Mexico, IT will be driven by the sector s natural dynamism and also the high growth outlook afforded by telecommunications, an in- business, Internet access, e- commerce, e-invoicing, social networks, mega data and mobile device applications. The world is globalizing and even more so in this industry because the end product travels through the air, states Allard. The development of the IT sector in Mexico is relatively new but in the last decade the industry has exploded and is today a world reference. Allard reveals that from 2003 and 2004, we recorded growth rates above the Gross Domestic Product (GDP). Between 2010 and 2012 we had significant growth; in 2009, amid the financial crisis and the world economy, there was a drop but the sector quickly began to recover and from 2012 recorded growth of between 13% and 15% a year. In early 2014, Edgar Fierro, director general of International Data Corporation (IDC) Mexico chapter, told the press that IT growth prospects for the year pointed to a rise of 13%. The IT industry is set to grow 5% worldwide and 8.1% in Latin America. With 13%, Mexico will be progressing at a higher rate than Latin American and global averages, driven by four trends: cloud computing, big data or analytics (analysis of huge data volumes), mobility (use of technology in mobile devices) and social busidustry which expects investments of 5 billion USD, which is a huge trigger for IT to continue this elevated growth. The key is in the tight relationship between the two sectors, since telecommunications use IT to deploy a large amount of products and services in, for example, cloud and mobile device applications. Designing Growth Several factors are evidence of the expectations of the IT industry in Mexico. In the case of telecommunications, following the structural reforms of 2013 in the laws that apply to the sector, There will be much more push to get IT access to companies and also for services with people-centered applications. The adoption of these technologies will be accelerated due to federal government actions and the rollout of state laws, says Gutiérrez Martínez, for whom, The essential part of the reform, as well as regulation and competition, is the recognition of certain rights, specifically access to IT and the expression of ideas in these areas. It is the right to be connected, that will be accompanied by an aggressive program for the deployment of many applications and further development of the industry. Another fundamental element in the growth of IT in Mexico centers on the domestic market. In the last 12 years there has been a decisive and constant drive in the sector by the federal government. For example, the Prosoft program has been maintained, which consists of a set of public policies and resources to drive the industry s growth. With a series of incentive programs, corporations have expanded their business in exports as well as domestic sales and many have become suppliers to other sectors which have been adopting ITbased processes. The speed of IT adoption is one of the great drivers of the domestic market, Gutiérrez Martínez affirms. But the government also maintains programs and policies focused on stimulating the competitiveness of other business sectors, by helping them to adopt IT. The National Entrepreneur Institute (Inadem), created at the start of President Enrique Peña Nieto s government, has encouraged policies and programs for IT adoption in micro and small businesses (MSB), so that today all businesses are able to adopt IT, from simple inventory processes to more complex supplier management and sales estimates, assures Gutiérrez Martínez. IT adoption by large and medium-sized businesses (LMB) 12 February 2014 February

9 Negocios ProMéxico Special Feature photo archive Special Feature Negocios ProMéxico has greatly diversified; no longer limited to the automation of administrative processes, it now stretches into the development of deeper business processes in different fields, such as health technology, agriculture or fisheries management, tracking and positioning systems, estimations, and monitoring with satellite imagery, among many others. The outlook for the industry is also underpinned by the competitive advantages that Mexico offers to businesses. One is sharing time zones and a similar business culture with the US, a country that represents more than half the global IT market. Another advantage is the volume of engineers that Mexico is producing in IT, surpassing several European countries combined and Brazil. Calculations by the consulting firm Adecco suggest that the demand for IT engineers in Mexico will grow by around 13%, driven by the number of clusters and companies in operation. However, this is not just about the number of engineering graduates every year, but, as Gutiérrez Martínez suggests, the understanding IT Summit, in Mexico In September and October 2014, Mexico will host the World Congress on Information Technology (WCIT) which will attract between 3,000 and 5,000 attendees from around the globe. The event will be held in Guadalajara, Jalisco, which in 2010 was the site of the Plenipotentiary Conference of the International Telecommunication Union (ITU). For Víctor Gutiérrez Martínez, president of CANIETI, for Guadalajara to win the seat of the WCIT in 2014, competing against other cities of the world, speaks to the positioning that Mexico has had in IT. that Mexican engineers have of the business model, the language and insight into the ways and means of production that predominate in the big transnational IT firms. Javier Allard supports these opinions: Mexico has been identified as one of the countries with great potential in the development of IT services. Softtek coined the phrase nearshore to refer to the provision of services in countries which are geographically close. Mexico and the US are world; we are in a position of intermediate costs. But when you do an analysis of total costs of the operation including executive time and travel expenses that firms have to incur to establish operation and outsourcing centers in Mexico, we are much more competitive because for an executive to set up shop or new operations in India, he s going to be away all week and in Mexico he can practically leave in the morning and be back in his home town the same day. through strategies that include raising the spending on scientific research and technology development by up to 1% of the GDP: the high level training of human capital; promoting vocations and local capacities to strengthen sustainable and inclusive regional development; contributing to the transfer and use of knowledge through ties between higher education and research centers in the public, social and private sectors and strengthening the country s scientific infrastructure. participation of universities in these professional programs and we want students to have industry certifications before graduating, he clarifies. Furthermore, CANIETI intends to increase the scope of another important program: Mexico IT, which has served to position the country brand in the world IT sector, says Gutiérrez Martínez. As far as the projects promoted by AMITI, Javier Allard explains that, We have just published the Roadmap 2025, we are analyzing pub- IT adoption by large and medium-sized businesses (LMB) has greatly diversified; no longer limited to the automation of administrative processes, it now stretches into the development of deeper business processes in different fields, such as health technology, agriculture or fisheries management, tracking and positioning systems, estimations, and monitoring with satellite imagery, among many others. not only joined geographically but are also trade partners in the biggest market in the globe, North America, and the major cities of both countries are connected by over 300 daily flights. Operating here is interesting for the entire world. Mexico has great business facilities, a highly-skilled workforce, more free trade agreements than anyone else in the globe and structural reforms that are driving competitiveness, declares Allard, who is convinced that one of Mexico s main advantages is the so-called demographic bonus that in the next 20 years the majority of the population will be made up of economically active young people. Mexico also offers lower costs as a competitive advantage in IT. Víctor Gutiérrez explains that Mexican labor is not the cheapest in the Government Support Gutiérrez Martínez also mentions, among Mexico s advantages, the series of policies and funds that the government has established since 2004 in support of the IT sector. There are large regions now with favorable ecosystems for the development of the IT industry and the new federal administration also has the intention to support science and IT, he states. In November 2013, President Enrique Peña Nieto launched the National Digital Strategy which, through work areas such as government transformation, digital economy, quality education, universal health and public security, seeks to boost Mexico s innovation and competitiveness. In 2013, the federal government also endorsed the commitment to push science, technology and innovation Industrial Projects More than 34 IT clusters operate in Mexico, totaling more than 2,000 companies. We can mention Nuevo León (Northeast), Jalisco (West) and Baja California (Northwest) as flagships. The clusters in these three states have a high level of maturity and added value; they work alongside state governments and maintain spaces and consensus with local universities to align study plans with the requirements of the sector, describes Gutiérrez Martínez. The president of CANI- ETI also comments on several projects developed by the organization. There is, for example, a national initiative for innovation in IT and the increase in scope of the Mexico First program, which has more than 60,000 certified industry professionals. There has been an increase in the lic policy in relation to important issues like health and education; we are identifying six technologies which are going to mark the development of the industry [ ] We have projects lined up to encourage the development of certain technologies that enable faster and more dynamic IT adoption, such as the cloud, e-commerce, social networks and massive data analysis. In the presentation of the Roadmap 2025, Juan Alberto González Esparza, president of AMITI and general director of Microsoft Mexico, mentioned that according to the projections of the study, connected devices will go from 12.5 billion in 2012 to 50 billion in 2025 worldwide; the number of Internet users will increase from 2.5 billion to 5 billion in the same period. Mexico will be a key player in this change. N 14 February 2014 February

10 Negocios ProMéxico Business Tips photos archive Business Tips Negocios ProMéxico 2012, ranking 63rd in This is due to the Mexican government s efforts to develop online services deeply, increase citizen participation and an overall improvement in the business and innovation environment. Mexico received its highest score in e- participation, standing at 25th place. Considering the WEF s evaluation criteria, once Mexico adopts and executes a global digital program that could drive the development and adoption of ICTs and their inclusion in a more robust innovation system, the nation will be better prepared to make a decisive contribution to greater competitiveness and raise the development and prosperity of the population. It is important to note that Mexican authorities have taken vital steps in that direction. There is a wide range of opportunities in ICTs and one of the fastest growing segments is the creation of mobile applications, thanks to the explosion of smartphones in Mexico in recent years. KPMG considers Mexico the most competitive country in Latin America in terms of software development and with an enviable geographic location to establish ICT firms, including low operation costs and highly-skilled human capital. The Mexican government has implemented a strategy to democratize information technologies (IT), in an attempt to guarantee accessibility to both the industrial sector and the population. An example of that is the creation of the Global Services Center in the city of Querétaro, in a state that has helped create a real ICT cluster. Suffice it to say that there are close to 100 ICT companies in Querétaro, ranging from software developers to call centers, data centers and computer service centers. 1. Connectivity to guarantee universal access for Mexicans through the implementation of social networking coverage to bandwidth Internet in schools, health centers, government offices and digital community centers. 2. Digital content and services to facilitate access for Mexicans especially low income, rural populations and vulnerable groups to public domain content, digital procedures and services in the areas of education and training, economy, government, health, jobs, security, culture, science and entertainment. 3. Digital inclusion to bring Internet use to the masses through a permanent national strategy of digital inclusion. That will be achieved by promoting the capacity of Mexican people to use ICTs and establishing access points or community spaces equipped with computers and mass Internet access, in order to provide the population with devices and connectivity in all highly marginalized or geographically remote areas. In addition to the aforementioned strategy, small and mediumsized businesses (SMB) in Mexico are expected to increase their ICT needs by 300% in the next two years. That will happen because as technology solutions for price analysis and marketing strategies are developed, SMB will have a guaranteed minimum annual growth rate of 7% in their financial statements. SMB understand the importance of ICTs. Thus, for example, a company s automation may require investment from as little as 1,000 USD for small servers to millions of USD, since human resources, management, accounting, communications and other strategies are developed based on needs and sales, and all from their access to ICTs. MEXICO and Information Technologies Mexico offers a wide range of opportunities in information and communication technologies (ICT), fostered by the Mexican government, who has implemented a strategy to guarantee accessibility to them for both the industrial sector and the population. by maría cristina rosas* We cannot deny the impact that information and communication technologies (ICT) have on today s society; they play a crucial role that is evident not only in its cultural and social aspects but also in its economy, politics and laws. ICTs are becoming a basic element of our present socioeconomic and cultural structure, in which information has become a primary asset, enhancing data collection and handling and their communication and interconnection. Since 2001, the World Economic Forum (WEF) has taken on the task of analyzing the evolution of ICTs in the world in its Global Information Technology Report. The WEF s first report analyzed the development of ICTs in 75 countries, weighing 65 variables, which enabled an index to be created. The report is presented ev- ery year in April, so the latest edition is for In it, the WEF points out the positive effects of digitalization, stating that the mass adoption by consumers, companies and governments of connected digital services is increasingly decisive in the competitiveness of nations and the quality of life of their inhabitants. The report confirms that ICTs have boosted the global economy, invoicing close to 200 billion USD in the last two years. According to the analysis, a 10% increase in a country s digitalization score results in a 0.75% growth in its per capita Gross Domestic Product (GDP). The same 10% increase in digitalization favors a 1.02% drop in the unemployment rate as well. The reason behind this is that ICTs stimulate country competitiveness by being pillars for sectors such as aerospace, industry, electronics and automotive, among others. The 2013 study evaluated the technological development of 144 economies which account for more than 98% of the global GDP through 54 variables, including the use of social networks that are divided into four subindexes: environment, readiness, usage and impact. Environment was established by adding two factors: political and regulatory environment and business and innovation environment. Readiness was established by taking into account three aspects: infrastructure and digital content, affordability and skills. Usage was defined based on three factors: individual, business and government usage. Finally, impact measures the economic and social impacts of ICTs. Based on these criteria, Finland was at the top of the rankings globally and Chile led the group of Latin American countries. It is worth noting that Mexico climbed 13 positions since Considering the WEF s evaluation criteria, once Mexico adopts and executes a global digital program that could drive the development and adoption of ICTs and their inclusion in a more robust innovation system, the nation will be better prepared to make a decisive contribution to greater competitiveness and raise the development and prosperity of the population. The cluster s success is based on geography and demographics. The State has a privileged location, in the center of the Mexican Republic, two hours from Mexico City and reasonably close to other cities. The cluster also demonstrates the benefits of ICTs for regional development with the construction of a new international airport and the future establishment of a passenger fast train between Mexico City and Querétaro. The Querétaro cluster is an example of the potential that ICTs create: the state s capital has the infrastructure needed to receive high-technology businesses, fiber optic connections and double redundancy in electricity supply. In fact, ICTs account for 2% of the state s GDP. On a national level, ICTs share in the GDP has increased exponentially, from 2.7% in 1998 to 5.6% in To promote the incorporation of ICTs into every area of Mexican society, the Mexican government agenda has set three main goals since the creation of the e-mexico National System in 2000, namely: Mexico is rapidly becoming an information society. The coordinated efforts of the academic sector, government and businesses will guarantee the creation of a digital agenda that will both benefit society and create highly attractive opportunities for Foreign Direct Investment (FDI). All this thanks to the strengthening of key competencies of human resources, conducting research and development on the next generation of ICTs and an increased number of experts and professionals in this field of knowledge. Furthermore, technology-intensive activities are being encouraged while seeking to improve institutions to create software and digital content. This, in addition to the internationalization of local businesses in digital technologies, will make Mexico one of the leading ICT markets in the globe. N *Professor and researcher in the Political and Social Sciences Faculty, National Autonomous University of Mexico (UNAM). 16 February 2014 February

11 Negocios ProMéxico Guest Opinion photo archive Guest Opinion Negocios ProMéxico Mexico: A Network of Opportunities Information and communication technologies offer a wide range of opportunities that businesses in Mexico should take advantage of in order to engage in more ambitious and profitable projects. by guillermo rodríguez abitia* The advent and development of telecommunications has impacted our lives in such a way, that we have become ever more dependent on them. This phenomenon has taken place on a global scale, and Mexico is no exception. In fact, mobile phones and services have closed the gap from a couple of decades ago, where people had to wait up to two years to get a telephone line installed at home. Not only the need to establish a conversation is being satisfied, but people are increasingly consuming mobile services as well. Thus, going online to check one s e- mail, logging on to social networks, reviewing traffic conditions, doing mobile banking, or simply browsing the web are common activities of today s average citizen, among others. Mexico in the Internet and e-commerce Arena According to the Mexican Internet Association (AMIPCI), the growth of Internet users in Mexico has been steep, increasing in almost 25 million up to 45.1 million in only six years (2013). Of those, a little over 30% are between the ages of 25 and 44, and more than 75% belong to socioeconomic groups classified as B and C (upper and middle class, respectively). The main reasons of getting started on Internet usage are use, information searching, and social networks. It is worth noting that about half of Internet users can connect pretty much anywhere, which makes them seem somewhat ubiquitous. Also noteworthy is the fact that over 90% of users have Internet access from their homes. Considering that the Mexican population is greater than 110 million inhabitants, the business opportunities seem to be quite considerable. Consequently, e-commerce grew an impressive 57% from 2011 to Thus, the market has progressed from 1.8 million USD in 2006 to an estimated 9.2 million USD in 2013 (AMIPCI). Out of the sector s total sales, 17% were international in 2013 compared to only 4% two years ago, suggesting an increase in buyers trust on international transactions. Marketing activities have gained relevance in the last few years, though four out of 10 businesses that engage in digital marketing have been doing so for more than a year, which means an increasing number of enterprises are catching up quickly. Despite the fact that is still the main vehicle used by businesses for digital marketing, being active on social networks is becoming progressively more popular. It is also interesting to note that 20% of companies do marketing via mobile devices (AMIPCI). Opportunities for the Small Ones Small and medium-sized businesses (SMB) are particularly sensitive to market changes and more vulnerable too, as long as they remain operating on a traditional basis, rather than searching for differentiation and added value through information technologies (IT) innovation. The interconnectivity available today fosters opportunities of reaching markets that were not even dreamed about a few years ago. One particular reason for SMB not to invest in IT initiatives is, besides a traditional family-based management and mind-set, the total cost of ownership (TCO) that an IT investment represents, and the lack of vision of IT as a strategic asset. Nonetheless, managed services by many suppliers now allow SMB to share TCO and resources, hence being able to pay only what they consume, and not needing to endure a long-lasting learning curve. However, just reducing TCO to overcome infrastructure costs is not enough to succeed down the innovation road. SMB need to learn how to share market strategies and create synergies to become more competitive. Information and communication technologies (ICT) provide the framework to gain economies of scale and acquire a critical mass that may allow a group of businesses to engage in more ambitious projects and business opportunities. Taking On the Wave But how can SMB cooperate and take advantage of the Internet and other ICTs potential? There are many mechanisms for enterprise collaborations. Some of these include the creation of vertical or horizontal clusters. Clusters allow companies to cooperate functionally, regardless of being geographically dispersed. Sharing purchasing, billing, and distribution operations to gain better economies of scale is only the beginning. The level of cooperation can be increased to complementing competencies and market intelligence, as well as creating more comprehensive and valuable services and products to be offered to the market. Industry and technology parks, on the other hand, offer the ability to create business communities based on the participation of the governmental and academic sectors as well. In these facilities, the innovation cycle can be included fully. First, research, development and innovation (R&D+i) centers generate ideas and develop new products, processes and services. Business incubators and accelerators get a hold of them and nurture new businesses to introduce them to the market. Those that are successful are helped to gain momentum and become the new stars of the market. Careful business plans that also include innovation in distribution, Internet sales, and digital marketing are consolidated. Once the new business has matured, it can move to the SMB area in the park for physical infrastructure sharing and accessible prices. Cooperation and the creation of new collaborative market opportunities are then fostered to compete for larger gains. Finally, new spinoffs are created and incubated. There are many clusters and parks in Mexico, and they are becoming ever more popular, as businesses realize that today s way of competing is precisely cooperating to create new markets and making rivalry irrelevant through innovation. Information and communication technologies (ICT) provide the framework to gain economies of scale and acquire a critical mass that may allow a group of businesses to engage in more ambitious projects and business opportunities. A Network of Opportunities From any perspective, the network of opportunities that ICTs offer, including businesspeople networking, is great and should be leveraged. SMB have the opportunity to compete based on added value and innovation, rather than simply cost leadership. The size of the market can be multiplied, and the means for service delivery via the Internet are extremely effective and pervasive. One positive factor is the increasing level of technology appropriation and access that people are experimenting. The Mexican market is also a big incentive for e-commerce investment, due to its increasing active purchasing and socializing behavior via mobile and other web technologies. A highly relevant factor that fosters innovation for SMB is the governmental portfolio of incentives that exist to fund innovation initiatives that help increase their competitiveness on a global market. Let us remember that, even though SMB have limited resources, their lacks and small size makes them more flexible for change, and they can adapt better to new ways of competing by seizing the opportunities that are at their reach in the environment. Appropriate market intelligence is therefore paramount not to incur unnecessary opportunity costs. After all, if the technology wave is already here and changing the world as we know it, let s then ride it and make the best of it. Internet and telecommunications, along with the Mexican market conditions offer a network of business opportunities that should not be overlooked. N *Director of Research, Development and Innovation at the National Autonomous University of Mexico s (UNAM), General Direction of Information and Communication Technologies. Former president and founder of the Latin American and Caribbean Association for Information Systems (LACAIS). 18 February 2014 February

12 Negocios ProMéxico Mexico s Partner photos courtesy of ijalti Mexico s Partner Negocios ProMéxico Corporativo Tecnológico de Jalisco: a New IT Business Model Close to four years ago, a group of entrepreneurs from western Mexico implemented a scheme based on alliances that enabled them to complement each other. The experiment has been successful in several countries in the Americas and Europe and is now going global. by antonio vázquez Nine companies, one goal: mutual aid. In 2010, the heads of nine information technologies (IT) companies in the state of Jalisco, in western Mexico, agreed to work together to expand their area of development. The idea has now materialized and is called Corporativo Tecnológico de Jalisco (CTJ), a project within the Software Center belonging to the Instituto Jaliscience de Tecnologías de la Información (IJALTI), which houses close to 40 IT businesses. Most of these companies have been in the sector for several years. We realized that we weren t in competition with each other and we could, in fact, complement one another; that with our certifications, staff and dynamism we could create cells of development, says Roberto García, CEO of Netcommerce, one of CTJ s firms. CTJ has surprised customers in the US, Canada, Colombia, Argentina, the United Kingdom and the Dominican Republic with its extensive portfolio of products. The nine local corporations that make up the consortium have put around 50 products and services in web applications, telecommunications infrastructure, software, information security, human resources and certifications within reach of customers around the world. He adds: Projects come in and developers and designers from all the companies work on them; when the job is completed, everyone goes back to their places. The result has been so successful that only two years after its establishment, the CTJ was already exporting several products. CTJ has surprised customers in the US, Canada, Colombia, Argentina, the United Kingdom and the Dominican Republic with its extensive portfolio of products. The nine local corporations that make up the consortium have put around 50 products and services in web applications, telecommunications infrastructure, software, information security, human resources and certifications within reach of customers around the world. With a workforce of 265 and more than 20 certifications (many from global companies such as Apple, Cisco, Google, Microsoft and Hewlett-Packard [HP]), the CTJ is aware of its pivotal role in Mexico s IT industry. Roberto García explains that the so-called triple helix that has been implemented in the sector a three-way collaboration between education and technology institutions, government and businesses has allowed small and medium-sized businesses (SMB) in the industry to develop extensively. According to García, Mexico has become one of the leading countries with IT development given its highly-skilled workforce and privileged geostrategic location next to the US, the world s largest technology consumer. The CEO of Netcommerce points out that operating from Guadalajara is an added value for the CTJ. Being the second most important city in Mexico, it has top-ranking IT universities and specialized infrastructure, such as the new Digital Creative City (DCC) that is under construction in the center of the city. In 2012, when Jalisco s CTJ began exporting, it became aware of the need to internationalize. Since then, it has established synergies with organizations such as ProMéxico to accomplish its mission. Through ProMéxico, the CTJ is already analyzing the possibility of having a presence in places such as Silicon Valley, in California, and Chicago, Illinois. Our sales pitch abroad is not based on claiming that we are cheaper or close to the US. We don t fall back on those arguments to compete; instead we say and ensure that we are the best in this or that situation. Ours is a new model and we can cover large projects. We have the dynamics to create cells and grow them based on demand. To that, we add several aspects such as our people s training, which stand us in good stead, concludes García. N 20 February 2014 February

13 Negocios ProMéxico Mexico s Partner photo archive Mexico s Partner Negocios ProMéxico Orcius: ROOFTOP Technology A visionary young Mexican created this project from the roof of his home. Today, over 10,000 companies rely on Orcius for Internet solutions in various economic sectors. by antonio vázquez It is Javier Cárdenas Ibarra, a young university student, adapts a room on the flat roof of his parents home to start a small solution development company for different customers. Fast-forward 13 years and the seed has borne fruit. That business is Orcius, which today offers Internet solutions to more than 10,000 customers. Orcius began operating formally in 2008 in the city of Puebla, in central Mexico. In five years, the Puebla office has been joined by offices in Mexico City and 62 franchises throughout the country and in other parts of Latin America, such as Argentina, Colombia and Peru. As a good entrepreneur, Cárdenas noted that the small and medium-sized business (SMB) market was promising in Mexico and abroad. The CEO of Orcius explains how his company has leveraged such a vast market. We take SMB by the hand and walk them through digital marketing processes; we bring traffic to their websites; we do a diagnosis of their Internet information; we see where they are every year and where their opportunities lie and we plot a path that we can follow with them to give them measurable results. Website diagnosis, presence in mobile devices and search engines and cyberspace positioning, are just a few of Orcius solutions for its customer portfolio. We see that most SMB have no social media presence, so we focus on strategies that generate empathy with users through social media, depending to a large extent on the geography and interests, adds Cárdenas. Through a franchise business model, Orcius has won the confidence of its 10,000 users from SMB in various sectors. The firm also offers services to the United Nations (UN) Habitat program and to zoos, personal care brands such as Colgate and even automakers such as Peugeot and General Motors (GM). We do not compete with local companies. In our domain, you no longer contend with firms that are close to you but rather with companies around the world because of the digital era. We are seeing a shift in consumer behavior and many businesses still haven t noticed the importance and historical moment we are living in, affirms Cárdenas. Undoubtedly, innovation is a key element for Orcius growth. Cárdenas has therefore prioritized investment in research and innovation in his company. We have hired Mexicans who live abroad so they come back and do what they know how to do. We have recruited people from London, Canada, the US, France, through vacancies in Spanish. It makes us proud to bring this talent back to Mexico; it s an effort that we are always trying to promote in this sector, he claims. Collaboration agreements with Facebook, Google and private education institutions in Mexico are part of the company s staff training strategy. The other part is Orcius own university in the city of Puebla, where it offers e-commerce, digital marketing and social network programs. According to Cárdenas forecasts, the sector will see major growth in the coming years. He expects e-commerce to grow up to 50% due to the enormous number of payment options via mobile phones, tablets, mobile devices and social networks. At the same time, he says, the many foreign companies that establish in Mexico bring a different view of the digital era, which will force local businesses who offer Internet solutions to increase their competitiveness. The small project that began on the roof of a Mexican family home has expanded so much that today it has 45 direct and 95 indirect employees. In 2013 alone, Orcius grew by close to 100% and it expects to sustain that level of growth throughout We are focusing on producing e-commerce products for SMB so that they can sell properly and securely through the franchises we want to open in other parts of Latin America, as well as Spain and in parts of the US, such as California, Texas, Illinois and New York, concludes Cárdenas. N Through a franchise business model, Orcius has won the confidence of its 10,000 users from SMB in various sectors. The firm also offers services to the United Nations (UN) Habitat program and to zoos, personal care brands such as Colgate and even automakers such as Peugeot and General Motors (GM). 22 February 2014 February

14 Negocios ProMéxico Mexico s Partner photo courtesy of praxis Mexico s Partner Negocios ProMéxico will continue its path towards eastern countries as part of its follow-the-sun strategy, which seeks to have offices around the globe to be able to meet client needs 24/7. The major IT consumers are seeking global players who offer the possibility of a follow-the-sun strategy, says Jorge Abud, the business director of Praxis. He also reveals that the corporation will open three more offices abroad this year, gaining strength and influence in the market. Praxis has expanded globally as a result of a strategy that began with the conquest of the US, where the firm s first international offices were opened. Praxis: Talent and Perseverance Whether it s in international markets or the major national clients and financial institu- Abud claims that Praxis is doing patriotic work when it convinces a client abroad to be attended by young Mexican engineers. More than seeking projects from other countries and doing them with people from there, the model is to get the work and bring it here. That s how system development becomes attractive for job creation in Mexico, explains Abud. He goes on to say that universities must continue to insist on the scope and overall goals of the work of information development, as part of the process of educating talent for this sector. Mexico has to know how to sell itself abroad. Praxis collaborators testify to their performance every time the firm ratifies its CMMI level 5 (the highest) certification, highlighting the quality of their products and services, delivery because, although its products are of global quality, developed to the standards of the great IT firms, clients have confidence when they get personalized attention. Between the Big and the Small Praxis has not only made quality systems compliant and streamlined processes; it also has found the opportunity to offer consulting services and information solutions to the big players in the finance system, insurance companies, brokerage firms, government institutions and retailers. In recent years we have been deriving products geared more to SMB, even micro businesses. We have a great deal of solutions, declares Abud. SMB, he adds, need to integrate IT if they want to be more competitive, profitable Praxis currently has offices in the US, Spain, Puerto Rico, Panama, Argentina and Colombia, and will soon begin operations in Brazil. It will continue its path towards eastern countries as part of its follow-the-sun strategy, which seeks to have offices around the globe to be able to meet client needs 24/7. Praxis: Ever More Global A Mexican company has recognized its potential to position in global information technologies (IT) markets. It has the talent and strategy to get into the game. by omar magaña z Praxis is an information service provider for firms in the financial, government, mining, services and transport sectors. Any narrative about this Mexican IT firm, founded in 1996 by the developers of information systems for banking institutions, would be incomplete without mentioning its trajectory in the global marketplace, its efforts to strengthen international participation and its daily commitment to quality. Praxis grows and does so cautiously, being careful to cover all sides. Each year, since the second half of the last decade, its name has appeared in the Super Business category of the Mexican publisher Expansión, which rates human capital integration and satisfaction. The company also periodically renews its Capability Maturity Model Integration (CMMI) certification, drives the growth of small and medium-sized businesses (SMB) with tailored solutions and is going full steam ahead towards achieving its five year plan, to be present in 18 countries. Praxis currently has offices in the US, Spain, Puerto Rico, Panama, Argentina and Colombia, and will soon begin operations in Brazil. It tions for which it works, Praxis arrives with quality and confidence in the people within the organization. This is a human talent industry, Abud points out. IT has a lot to do with the creativity and education of the engineers. In Mexico we have significant capacity in that respect, he adds. The executive of a company that consistently stands out for the high level of integration of its human resources, emphasizes the quality of knowledge and services of the young Mexicans (about 1,000) involved in various corporate areas (consulting, integration, Solution Center, systems development) around the country. times, competitive costs, contribution to the value of businesses, client satisfaction and recognition in the industry. In Mexico, there are only five companies with this level. There are a hundred in the world, boasts Abud. In the latest recertification, Abud recalls, Praxis was able to mix oil and water. The organization was endorsed by the CMMI, implying maturity and product quality as well as an important documentation process, but to this it added a streamlined delivery system that speaks precisely to rapid services. Praxis, says Abud, also has in its favor the fact that it is a medium-sized company and closer to their clients. Praxis has developed a sectorspecific website, Bisnet, which offers electronic invoicing services, mobile collection and other solutions to perform various types of marketing via mobile phones. What is interesting for SMB, Abud insists, is that IT firms like Praxis are increasingly adapting to the needs and possibilities of the small business owner and plans for software as a service are emerging that make it easier for SMB to integrate technology without sizeable investment. Praxis wants to be among them. N 24 February 2014 February

15 Negocios ProMéxico Mexico s Partner photos courtesy of dotnet Mexico s Partner Negocios ProMéxico Dotnet: Software with all the Comforts of the Mexican Caribbean Dotnet operates from Cancún, overlooking Mexico s Caribbean coastline. The company offers the global market specialized software development based on customer needs. In addition, it has developed a stellar electronic invoicing product that it intends to sell in several Latin American countries in by antonio vázquez The formula for Dotnet s success is simple. So says Marco Antonio Erosa, CEO of Dotnet, a Mexican firm that develops technology and computer systems for any business. The search for a global market, specialization and the creation of a signature product are the elements of an equation the Cancúnbased company has been using for 10 years. In a decade, the small firm that Erosa established has grown to the degree that it provides services to companies in the US, Canada and the UK, becoming one of the few organizations to be authorized by Mexico s government to provide electronic invoicing services to the country s taxpayers. Erosa s vast experience has enabled him to consolidate Dotnet. He worked for several years in the information systems department of the Mexican Foreign Trade Bank (Bancomext), until a job prospect brought him to Cancún, where he developed several software projects for the hotel sector. Thanks to TechBA, a business accelerator promoted by the United States-Mexico Foundation for Science (FUMEC), Erosa was able to drive Dotnet towards new horizons. Specialists at TechBA made some recommendations to Erosa, among which were the three main elements of Dotnet s success formula: new markets, specialization and a product that would characterize the company. We have specialized in Microsoft technologies, in things related to the cloud and its applications. We have become a Microsoft partner by certifying our programmers, which has enabled us to look for customers in the US, says Erosa. Interestingly, he adds, operating from Cancún has been very advantageous for the firm. A few years ago, when Dotnet was just starting out, a Canadian businessman on his way to said city read an interview with Erosa in a local publication. The man returned to Canada and immediately contacted the head of Dotnet to establish a business relationship. Currently, Dotnet has a team of 20 programmers working on this Canadian account, which offers software development to oil companies such as Exxon, Mobil, Petrobras and BP. Dotnet also works for corporations in the US and the UK. It develops education institution management software for a US company and has developed the online sales and purchase system for another British firm. According to Erosa, the systems development sector has a potential future in Mexico. It is the only industry, he affirms, that has recorded an annual growth of up to 16%. Growth will shoot up even more in the next few years. There is more technology, mobile devices, technological media that require software; we ll see a huge expansion in five or 10 years. Plus, the US is our neighbor and it consumes 60% of the world s technology. Last year alone we grew by 100% and we expect this year to be the same, he envisions. For Erosa, Cancún is another key element of Dotnet s successful equation. We are a virtual border with the US even though we are not physically next to them. However, it is much easier to reach Cancún from anywhere in the US. Companies that operate from Tijuana only have access to the US market that is close to them, for example California, but we get business from Miami and New York, he explains. We have used this destination to attract business. All our customers want to come to Cancún! he boasts. Human talent is another added value. Dotnet has a system to recruit the best minds in the industry. It consists of a program that involves scholarships with local universities and the search for skilled staff from anywhere in Mexico who want to settle in Cancún. Erosa explains that the average age of Dotnet s programmers is 27. Dotnet currently employs some 60 programmers. Ten of them develop and perfect the firm s flagship product: electronic invoicing. According to Erosa, these 10 people generate 50% of the company s income. Dotnet s future is bright thanks to the tax reforms that were implemented on January 1, The firm is part of the 70 suppliers approved by the Ministry of Finance and Public Credit (SHCP) to provide electronic invoicing services to taxpayers. Given that, Dotnet will be big news in the future. By 2015, Erosa wants to bring Dotnet s flagship product into the international arena. The company is looking at Brazil, Argentina, Chile and Colombia. These countries have electronic invoicing schemes and the idea is to take our product to them next year, along with all our knowledge and experience and adapt it to local laws, concludes Dotnet s CEO. N In a decade, the small firm that Erosa established has grown to the degree that it provides services to companies in the US, Canada and the UK, becoming one of the few organizations to be authorized by Mexico s government to provide electronic invoicing services to the country s taxpayers. 26 February 2014 February

16 Negocios ProMéxico Cover Feature photos archive Cover Feature Negocios ProMéxico The Mining Industry in Mexico: A Golden Opportunity With 500 years of tradition, Mexico is an important player in the global mining industry. The country has enormous geological potential, with plentiful and varied mineral resources, world-class reserves and deposits, and favorable conditions for business development, which have enabled it to remain a key global actor. by mariana morales Mexico s production value makes it the 14th biggest mining producer in the world. In 2012, the value of Mexican exports of ores and concentrates represented 1.7% of the world total. In addition, the country has consolidated as an important investment capital destination; according to Metals Economics Group, in 2013 Mexico ranked fourth in the world as a recipient of investment for exploration, with 6% of the total capital invested in this area, and, for the fourth consecutive year, first in Latin America. A report published in 2013 by Behre Dolbear, which evaluates 25 countries around the world, puts Mexico in fifth place for best mining investment conditions worldwide and third in Latin America, behind Chile and Brazil. The Fraser Institute, meanwhile, considers Mexico as having the second most important mining potential in Latin America in terms of best practices in industry regulation, behind only Chile. Investor confidence in Mexico and the industry s capacity to respond to world demand for huge production volumes is reflected in the leading role the country plays in important mineral segments. According to information from the Ministry of Economy s Office of Mining Regulation, in 2012 Mexico ranked as the world s leading silver producer; the second most important for bismuth and fluorite; the third for celestite and wollastonite; fifth for cadmium, lead, diatomite and molybdenum; seventh for gold, zinc and gypsum; eighth for barite and graphite; ninth for salt and tenth for copper. These positions not only reflect Mexico s competitive advantages. They are also indicative of the attributes that make it a production powerhouse and an attractive investment destination. For Mario Cantú Suárez, General Mining Coordinator at the Ministry of Economy, among the most important of these attributes is that Mexico has a strategic geographic location, and belongs sharing a border to with the biggest market in the world; it has communication and transportation routes and access to the most important trade routes in the world, with possible connections to the Pacific Rim and Europe, and privileged access to 45 countries that amass more than 1.2 billion people, representing 61% of the world GDP. The country has solid public finances, important international reserves and controlled inflation levels that generate a stable macroeconomic framework which fosters favorable conditions for business growth and expansion, he adds. Speaking of the conditions that favor mining investment and development in Mexico, Cantú Suárez emphasizes that, There is an advanced regulatory framework, on a par with those of major mining powers, which gives legal certainty and security to the industry, with clear rules and efficient administrative processes. As if that were not enough, the mining industry has extensive and timely The Mexican Geological Survey: Promoting Geological Knowledge The Mexican Geological Survey (SGM) is a public entity decentralized from the federal government, whose main responsibility is to generate key geological knowledge of the country s territory for a very specific purpose: to encourage the proper use of its mining and non-renewable natural resources to promote investment attraction. This means that the organization provides all the vital elements to facilitate exploration, identification and qualification of Mexico s vast natural resources. It is regulated by the Mexican Mining Law and coordinated by the Ministry of Economy (SE) through the General Mining Coordination (CGM). The SGM offers interested parties and investors various public geological information, thanks to the work of the Mexican Geological Service, enabling informed decision-making and favoring investment. Mexico has a portfolio of mining projects to draw national and international investors; promotion of strategic partnerships between sector companies and mining concessionaires to encourage the use of resources and develop exploration through cost-sharing and joint investment; the geological-mining heritage, consisting of over 70 years of research and exploration in national territory, says Cantú Suárez. If we add to the above, in the words of the General Mining Coordinator, the broad, technical and professional labor base, with the experience and capacity to meet needs across the mining production process, and a broad base of goods and services suppliers that enable the production chains necessary to further develop services related to geological, mining, metallurgical and technological business opportunities in Mexico. As regards to earth sciences, it boasts a cartography program that generates a significant amount of geological and geo-referenced information using state-of-the-art technology. It is also the proud creator of the Digital Geoscience Databank, which allows users access to its numerous databases for the generation of geological knowledge. To support the development of the Mexican mining sector, the SGM provides technical assistance on mineral resources through its highly-skilled workforce. Via its labs and experimental centers, it offers services related to the characterization and analysis of mineral samplings, as well as metallurgical research. This public entity is also in charge of handing out contracts of exploration and certification of mining reserves to requesting parties, which are only subscribed after a painstaking process. In line with the federal government s National Development Plan , one of the SGM s newfound priorities is to secure the supply of energy minerals to satisfy the increasing demand in the country, and to support industrial and economic growth. The SGM also gives geological counselling to interested bodies, such as research institutions, by generating studies to determine the feasibility of their projects, as it pertains to geological or environmental risks, as well as other disciplines such as geo-medicine and geo-turism. Finally, and to further promote Mexico s mining knowledge, the SGM also compiles all the information it generates into a variety of publications, such as: State Mining Geological Monographs, Mexican Mining Statistical Yearbooks, Mexican Mining Directories, and Inventories of Dimensional Industrial Rocks like granite and marble. the activity, the conditions for industry development seem optimal. In recent years, mining sector investment has reached historic levels, motivated by the advantages our country offers; between 2007 and 2012 it topped 25.6 billion dollars, and is estimated to be more than 8 billion dollars in 2013, indicates Cantú Suárez. Investment is just one side of the coin. On the other, are the riches generated by the mining activity. According to the latest economic census by the National Statistics and Geography Institute (Instituto Nacional de Estadística y Geografía, INEGI), 2,791 production units operate in the Mexican mining industry. Up to the third quarter of 2013, mining contributed 0.9% of the domestic GDP, and between 2010 and 2012 non-oil extraction grew at an average annual rate of 11.8%, one of the most dynamic in the Mexican economy. 28 February 2014 February

17 Negocios ProMéxico Cover Feature Guest Opinion Negocios ProMéxico photo courtesy of general mining coordination A general strategy of sector development is underway to drive productivity and production capacity, along with an active policy of investment promotion and support for market diversification. Mario Cantú Suárez, General Mining Coordinator Mexico s Competitiveness as a Mining Investment Destination The investment opportunities offered by the Mexican mining sector are no longer the global industry s best kept secret. Mexico is now ranked as the fifth destination for overall mining investment and fourth for mineral exploration investment worldwide. by lucy fisher*and michel cuvillier** As part of the recently approved fiscal reform, Mexico will start charging mining companies a royalty tax on mineral production. Mexico s lower house of Congress approved the new 7.5% mining royalty on earnings before interest, taxes, depreciation and amortization at the end of 2013 as part of a plan to bolster the country s feeble tax haul. The bill also provides for an additional mining royalty of 0.5% applicable to income from the production of gold, silver and platinum, without any deductions. Despite the introduction of the royalty tax, Mexico is an attractive mining investment destination based on a combination of stable economic, political and legal environments and vast mineral wealth. Along the same lines, the mining industry is an important job creator. Figures from the Mexican Social Security Institute (Instituto Mexicano del Seguro Social, IMSS) up to November 2013, show that Mexican mining employed over 338,000 people. Employment in the mining industry has been sustained by investment flows that continue to materialize when projects whose construction began months earlier, draw to a close, as well as prospecting activities around the country, explains Cantú Suárez. The Mexican government is aware of the importance of mining to the development of the national economy. That is why A general strategy of sector development is underway to drive productivity and production capacity, along with an active policy of investment promotion and support for market diversification. A key piece is the strengthening of the domestic market, through support for greater integration of the production chain and for the broad subsector of small and medium-sized mining businesses, explains Cantú Suárez. The outlook is not simple. The International Monetary Fund estimates that 2014 will see a decline of 5.6% in the price index of metals and in some cases supply surpluses are already being recorded, given the limited growth of demand. In addition, the industry has been faced with rising costs for some years. In this situation, one of the great challenges is to maintain the momentum of the industry in the international arena, strengthen the advantages of investing in the country and provide support to sector players to enhance their production capacity, says Cantú Suárez. Companies should widen their product range to achieve self-sufficiency in mineral consumption while diversifying markets and leveraging specific niches for new uses, generating products with higher added value, he adds. There remains much wealth to explore in Mexico, enough to maintain the country among the top places in the world for investor preference and quality of deposits. The key lies in the ability of companies and authorities to drive the development of investment in the sector, the country s production capacity and the competitiveness of mining companies. To face these challenges and within the framework of the National Development Plan , policies have been developed aimed at increasing competitiveness and investment in the mining sector, strengthening the country as an investment destination, driving the creation of clusters and streamlining the issue of mining concession titles, Cantú Suárez concludes. N photo courtesy of fresnillo plc 30 February 2014 February

18 Negocios ProMéxico Guest Opinion photo courtesy of clúster minero de zacatecas Guest Opinion Negocios ProMéxico This royalty tax is part of an extensive fiscal reform by President Enrique Peña Nieto that focuses on reaping more income tax from high earners, closing corporate loopholes and widening the tax base. Mexico s royalty tax is based on successful models that exist in countries such as Canada, Peru, Chile and Australia where a royalty tax has proved to be an effective tool for directing money from mine operators to communities, which is essential to avoiding conflicts and reducing the risk associated with present and future mining operations. The investment opportunities offered by the Mexican mining sector are no longer the global industry s best kept secret the country s profile has grown steadily in recent years and it is now ranked as the fifth destination for overall mining investment and fourth for mineral exploration investment worldwide. Mexico s rise as a prime location for mining activities has attracted increasing numbers of firms from the sector, service providers and suppliers from far and wide to establish in the country, taking advantage of the recent extended boom in the industry. Today mining is an important sector of the Mexican economy, as the fourth biggest contributor to the country s national Gross Domestic Product (GDP). In 2013 Mexico attracted 6% of total global mining investment, while it contributed 2% of total global production value. With foreign investors being responsible for a significant percentage of the 8 billion USD that were invested in the industry in 2013, what has made so many international companies look to Mexico as an attractive investment destination? Mexico s success in attracting foreign investment can be put down to its cultivation of a number of key factors that appeal to the international mining community: its vast geological potential combines with a deeply rooted historical mining culture and a mature legal framework to make the process of running mining operations relatively straightforward, thereby reducing financial risk. Over many years, the legal and operating framework in the country has been opened up to create a business-friendly environment for the mining industry and the ease of doing business in Mexico is regularly cited as one of the country s most appealing characteristics. Mexico has sufficiently strong regulations to allow investor confidence but enough freedom to operate efficiently and generate profit. It is important to note that the mining industry, contrary to what people think, is highly regulated and there is also legislation in other areas that applies to it, such as tax, environment, labor, explosives, and many others, says Karina Rodríguez Matus, Partner at PS&RM Abogados. Generally speaking, the current mining law stimulates the development of the mining industry, since it only regulates the essential aspects of mining concessions and grants significant freedom to stakeholders, within the framework of a regulatory state. This freedom is also reflected in the fact that private corporations can be funded with up to 100% foreign investment and that overseas entities can hold 100% of the concession rights on a given piece of land. Acquiring a mining concession is straightforward, with concessions granted on a first come first served basis (there is no bidding process). Mining concessions, which are issued for a period of 50 years, can be sold and transferred freely but they can also be returned to the government before that period is over without incurring any penalty. This well-struck balance in Mexico s mining framework led to the country achieving excellent scores in KPMG s 2012 Competitive Alternatives Report. Out of the five high growth countries included in the study, Mexico performed best in the Ease of Doing Business ranking. What is more, out of the 14 countries included, Mexico placed first on the Market Access index, ahead of mature economies such as the US and Canada, meaning that its policy framework was found to be the most welcoming of foreign goods and to enable the greatest access to foreign markets for its own exporters. This is also complemented by the fact that throughout history many of Mexico s main cities emerged as mining towns, as well as the country s ports, railway networks and much of its infrastructure originating from mining activities. Such factors contribute to an overall structure in Mexico that makes the country s vast mineral reserves highly accessible and allows the mining sector to make the very most out of the deposits that still remain to be exploited. Mexico s production record is proof of how well this system is working. Mexico is very well positioned in the global mining industry. It will remain the number one producer of silver but will also become an even more important player in the gold and copper markets. In terms of discoveries, the country still has a lot to offer and the Mexican Geological Survey (SGM) believes that it will also challenge other producers in the realm of non-metallic resources, says Rafael Alexandri Rionda, former Director General of the SGM, the country s national surveying body, which has mapped the vast majority of the Mexican territory. SGM provides different layers of information, ranging from aeromagnetic cartographies to geochemical mapping, which help to publicize the potential that exists in Mexico. The key to attracting investment depends on the level and quality of information available and how accessible that information is. If one wants to impact the world, one first needs to show the world who one really is, adds Alexandri Rionda. SGM strives to play a fundamental role in directing companies towards good projects in Mexico, indicating where there is promising mineralogy, allowing businesses to make a more informed decision about where in Mexico they will direct their exploration activities. SGM also has a portfolio of projects that it sells through bidding processes. In fact, in the last four years 13.6% of the Mexican mineral value has come from projects generated by SGM a value that speaks for itself. Through SGM the government can also participate in the mining industry, requesting a claim and exploring an area on concession, selling that claim later on. The collaboration between private and public sector investment all over the country and the fact that companies can buy, reduce, increase, exchange, donate or even inherit concessions, allows this sector to be very dynamic and appealing for foreign investors, says Mauricio Candiani Galaz, President and CEO of Candiani Mining. Mexico is currently the top silver producer in the world and was ranked as the 10th producer of gold for the past two years; the importance of its copper production is also growing steadily. Overall, the country is ranked among the top 10 global producers of 17 minerals. Its prominent position in the global mining industry is the result of heavy investments made by national and foreign entities. Advances in technology and innovation are destined to ensure that the mining tradition in Mexico continues for the foreseeable future. Initially, the country was known because of its vein systems but as geologists started to apply new geological models they were able to discover new deposits or make more out of the deposits that already existed, says Octavio Alvídrez, CEO of Fresnillo Plc. Therefore, we started to see some different mining operations open pits, disseminated ore bodies and this allowed Mexico to grow not only in terms of traditional metals such as silver, copper and lead but it also meant a big jump in gold. With mining clusters having been developed in mining centers such as Zacatecas and Chihuahua, greater synergy between the different branches of the industry is bringing more benefits every day. This synergy will be the key to unlocking the great potential that still remains in Mexico. 70% of the almost 2 million square kilometers that cover the national territory are, according to geological studies, susceptible to containing mineral deposits that are as or more important than those that have already been discovered, says Sergio Almazán Esqueda, Director General of Camimex, the Mexican Mining Chamber. This remaining mineral potential, together with the Mexican mining industry s legal framework and mining culture, means that Mexico is still an attractive option for firms that are looking for growth opportunities. Mining companies that have operated in the country and which have extensive experience in the industry are the first to proclaim the value of working in Mexico and their commitment to doing business here. We do not have any ambitions to go beyond Mexico, because the potential of our assets here is tremendous and will keep us busy for many decades to come, says Keith Neumeyer, President and CEO of First Majestic Silver Corp. We have no reason to look outside of Mexico. N *Editor of Mexico Mining Review. **Industry Analyst of Mexico Mining Review. 32 February 2014 February

19 Negocios ProMéxico Mexico s Partner photos courtesy of clúster minero de zacatecas Mexico s Partner Negocios ProMéxico Zacatecas reinvents its mining industry In Mexico, the state of Zacatecas is an historic reference in mining. Today, with its long tradition and broad knowledge of its business, Zacatecan mining is reinventing itself to reach new horizons. by sergio anaya nomic activity, would have its own cluster, responsible for determining what must be done to strengthen the sector and ensure its growth. In addition to the mining cluster, there are clusters for tourism, information technologies, agriculture and automotive sectors. The Mining Cluster of Zacatecas (Clusmin) began operating at the end of September, 2011 and was constituted as a civil association in October Under this status, it sought to integrate all the economic units that operate in the Zacatecas mining sector; there In 2011, an Economic Development Advisory Board was formed on the initiative of the state government of Zacatecas to identify areas of opportunity for the Zacatecan economy and design new strategies to drive its development. The Council, composed exclusively of volunteer members, decided it was best to operate under the cluster scheme, one for each of the main sectors of the state economy. As might be supposed, mining, the state s foremost ecoare currently 11 large mining units and between 40 and 50 small and medium-sized units. In its short life, Clusmin has had surprising results. For a cluster to be successful, the triple helix has to work: one, the consumer companies and goods and service suppliers of the cluster; two, the government, which sets the bases and conditions to promote its development, and three, and no less important, the universities and research centers. We operate under that scheme, affirms Jaime Lomelín Guillén, president of Clusmin. Clusmin seems to have designed just the right gear for the triple helix to work. It operates under a committee system. We currently have four committees: one for suppliers, made up of approximately 45 national and foreign companies; the health and safety committee, and the talent development and technology committees, Lomelín explains. The supplier committee has been dedicated to promoting investment from miningrelated companies. We have been looking for companies to invest in Zacatecas, to set up in the state and be closer to their clients. There are several benefits to doing that: transport times and costs are cut; there is better knowledge of client needs, which means better service, and there is more client-supplier interaction. All this results in innovation, assures Lomelín. The results are compelling. We have, for example, major companies like Atlas Copco which was one of the founders. The firm had operated in Zacatecas for many years providing maintenance for underground mining equipment, and now it is making a significant investment in the industrial park that the government of Zacatecas is pushing. There are other companies, like the Danish FLSmith and Emerson from the US. These companies already supplied several Zacatecan mines, but they were not formally established in the state. Through Clusmin, several of these companies have been encouraged to invest here, says Lomelín. The companies that accepted Clusmin s invitation have seen the benefits of operating in Zacatecas in a very short time. For example, Emerson met its budget goals in six months. Being close to its consumers has enabled it to grow its client portfolio, Lomelín comments. But in addition to promoting investment from new companies, the Clusmin cluster has pushed many, mainly small companies that operated as individuals to be constituted as legal entities. This has enabled these basically family-owned companies to grow because they have the opportunity to interact with other mines or other suppliers to offer their services and products, says Lomelín. It is a virtuous circle, where companies become more familiar with the mining medium and start to identify the business opportunities in the supply chain. Our intention is that these companies do not see Zacatecas as their only alternative. For example, some of them have developed products that they are already exporting, he adds. The other Clusmin committees also have promising news. Efforts have been made to connect academic institutions with research centers to address the real needs of the industry in the state in terms of talent and training. We are working with higher education institutions to promote study programs that currently do not exist in the state, but which mining companies need. For example, we are negotiating with the Instituto Politécnico Nacional (IPN) to bring the Metallurgical Engineering program to Zacatecas, because the mining industry needs professionals to investigate, design and upgrade processing plants in order to benefit and develop physical metallurgy in the area. At the moment, this program does not exist in Zacatecas; the IPN have opened a campus in the state and negotiations are now well underway so that the program can be offered in August this year, reveals Lomelín. The technology committee is generating knowledge on the current status of Zacatecan mining, in order to identify how metallurgical and mining processes can be improved. For its part, the health and safety committee is working to guarantee that suppliers and contractors adopt the safety rules of their clients, the big mining companies, to guarantee that the entire mining sector supply chain operates under the same regulations and standards. Clusmin is very clear about its short-term goals and the steps needed to achieve them. Our next step is to attract at least one major equipment assembly company to Zacatecas. Just like other states have attracted the top auto manufacturers in the world, we want Zacatecas to have at least one important mining equipment manufacturer which will initially serve the needs of regional mining, but which can grow to supply the national market, and eventually, export from Zacatecas, comments Lomelín. The president of Clusmin is confident that this goal will soon be met; he knows that Zacatecas has the conditions to convince any company to set up shop in the state. Mexico, and specifically Zacatecas, is a good place to manufacture. There is high quality labor and availability of engineers. The main mining equipment manufacturers are in Europe, the US and Canada. Labor costs in Mexico are much lower than in any of these three regions, but it is very competitive and has very good productivity levels, explains Lomelín. Zacatecas is very central within Mexican geography; we are equidistant from the Gulf of Mexico and the Pacific Ocean, and now, with the new Durango-Mazatlán road we are better connected. Furthermore, we have important railroad communication that connects us with the US, he adds. There are other factors which may seem irrelevant, but for a company they are important decision-making criteria. For example, Zacatecas has a really good climate, which in the long term translates into savings on heat, compared to locations in Canada, for example, concludes Lomelín. N clusmin.org 34 February 2014 February

20 Negocios ProMéxico Mexico s Partner photos courtesy of goldcorp Mexico s Partner Negocios ProMéxico Goldcorp: Efficiency and High-Value Assets Three mines operating in Mexico continue to figure among the major assets of Goldcorp, one of the most important companies in the global gold market. All three have been efficient in the new corporate goal of producing more for less. by omar magaña The gold market has not provided the best news in the last three years for those involved in gold exploration, extraction and processing. Horacio Bruna, engineer and Senior Vice President of Goldcorp in Mexico, says the downward trend of international gold prices has forced competitors with high production costs to pull out of the game. Goldcorp holds strong. The firm, founded in Vancouver in the mid-20th century and currently one of the biggest gold industry competitors and the most important in terms of stock market value, has established the necessary re-engineering to reduce costs in its mines in the US and Canada (Red Lake, Porcupine, Musselwhite, Marigold and Wharf); Central America (Marlin, Alumbrera, Pueblo Viejo and San Martín) and Mexico (Peñasquito, Los Filos and El Sauzal). When we saw what was coming, we decided to establish a work-based program par excellence: each one of our mines reviewed its operations to see where it could make savings and improvements, explains Bruna. The program, according to Bruna himself, has been in operation for a year and although it has been very intense, it has served to keep production on the rise by refining seemingly insignificant details. In the case of the Mexican mines, Goldcorp invested 7 million USD in Los Filos to double the capacity of its crushing plant, which translated into more efficient metal recovery. In Peñasquito, the largest of the group s mines and the one which yields the best dividends, a non-stop activity program was implemented in which, for example, a driver finishing his shift enters a bay where he is replaced at the wheel by the next one almost immediately. Specialized media outlets report that, as a result of the falling gold prices (touching 1,180 USD per ounce in June 2013, while in previous years the average price had been between 1,700 and 1,800 USD per ounce) and other factors, Goldcorp recorded a misalignment of 1.93 billion USD in the second quarter of Senior executives of the company spoke of the need to reduce capital spending, preserve cash and maintain production expectations and cost per ounce. Mexico s Contribution Mexico adhered to corporate objectives, with a production at the close of 2013 of 404,000 ounces of gold in Peñasquito (municipality of Mazapil, Zacatecas), 332,000 ounces in Los Filos (municipality of Eduardo Neri, Guerrero) and 81,000 in El Sauzal (municipality of Urique, Chihuahua). In 2013, we achieved all our production goals and for 2014 they have increased by 13%, so expectations are extremely good, claims Bruna, who maintains that in 2014 production levels of mining operations in Mexico should stabilize. El Sauzal, the smallest of the three active Goldcorp mines in Mexico, is reaching the end of its life cycle after having produced 1.5 million ounces of gold. Goldcorp invested 7 million usd in Los Filos to double the capacity of its crushing plant, which translated into more efficient metal recovery. In Peñasquito, the largest of the group s mines and the one which yields the best dividends, a non-stop activity program was implemented in which, for example, a driver finishing his shift enters a bay where he is replaced at the wheel by the next one almost immediately. However, Goldcorp is working on two other exploration projects: Noche Buena, an area of land a few kilometers north of the Peñasquito open pit mine, and Camino Rojo, also in Zacatecas. According to information from Goldcorp, Noche Buena could yield up to a million ounces of gold and 32.4 million ounces of silver, and Camino Rojo 2.8 million ounces of gold and 52.6 million ounces of silver. In Noche Buena we are making basic geophysical exploration flights and in Camino Rojo actively probing with three or four machines, and so far the results have been positive, Bruna reveals. In both cases, explorations are made to measure the availability of hydraulic resources. We are hoping to get them going because they are really huge, says the Goldcorp executive. Meanwhile, the corporation s investments in Mexico throughout 2014 would be in the neighborhood of 85 million USD for exploration and feasibility studies in Camino Rojo; 200 million USD in Peñasquito and 50 million USD in Los Filos. Speaking of Goldcorp s experience in Mexico, Horacio Bruna declares, It has been a success; Goldcorp started with the purchase of a small Mexican mine and since then it has evolved and developed three large mines. Goldcorp s Commitment Horacio Bruna explains that, on principle, Goldcorp must be established in points of continental America which are politically and socially stable and guarantee safe production, in other words that do not generate accidents which put the workers at risk. Goldcorp develops different training programs for its personnel aimed at raising safety awareness in an environment as risky as the mining industry. Goldcorp has coined a phrase in its global activities: sustainable prosperity, which means that the communities around our mines and all the agents who work with us, the contractors and the workers, benefit from these results. The firm s operations in Mexico have won the Cyanide Code Certification, the Silver Helmet Safety Award, the Clean Industry certificate and the title of Socially Responsible Company. N 36 February 2014 February

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