Could you briefly introduce CLUMISIN?

Compared to the other big clusters like Sonora, Chihuahua, Durango, and Zacatecas, which are primarily focused on service providers, CLUMISIN brings together all of the main mining companies active in Sinaloa together with the relevant contractors. One of our primary objectives at the cluster is to bring Sinaloa to the attention of the government and organizations like CAMIMEX, which tend to focus on the larger states with a traditionally large production of metals, neglecting to see Mexico’s mining industry has a new story in which Sinaloa will play a big part. Could you tell us more about the mining sector in Sinaloa?

Sinaloa is not the home of big mines, but of medium-sized producers; however, it is also the state hosting the largest exploration projects, developed by companies like Vizlsa, First Majestic, Prime Mining, Oroco Resources, and GR Silver, along with other smaller active explorers. While in the short term, the contribution of Sinaloa in terms of mineral output remains moderate compared to the other states, in the long run, Sinaloa will become a major mining district as these large exploration and development projects move into production. One of them is Vizsla, whose Panuco project is the largest undeveloped high-grade silver primary resource in the world, with a timeline for production in the next three years. What makes Sinaloa particularly attractive from an exploration perspective?

Sinaloa has great geological potential simply because it remains mostly underexplored. The district-scale opportunity emerges in the exploration programs of companies like Prime, Oroco, GR Silver and Vizsla, so consolidation across the properties is a big part of Sinaloa’s story. From north to south, we have different mineralization styles, both for precious metals and base metals. While the other states are mining from already mature operations, Sinaloa delivers the resources that will be needed to replace those depleting reserves at the national level. Political and sometimes security issues have dampened exploration in Mexico overall, but this has not been the trend in Sinaloa. A new generation of CEOs, including Michael Konnert of Vizsla and Marcio Fonseca of GR Silver, bring in the youthful energy and risk appetite to unlock the extraordinary exploration potential in this part of Mexico. How have your members managed to continue exploring considering the legal uncertainties at the national level?

Following the 2023 legal amendments, we saw a great wave of Amparos from companies trying to protect their assets against the new laws. Under the new legal guidelines, getting new concessions became a lot trickier, but the companies who were granted claims under the old rules were safe. Protected under the Amparos, explorers in Sinaloa have been able to continue work. We are all eager to see a final resolution on the Amparos soon, however, we must be patient. The new administration is working through these issues, one by one, and we have started to see some files finally coming through; the authorities are currently dealing with the easier requests, such as permits for expansions and modifications, with no new mine developments approved so far. The former government said no to open-pit mining, yet that also seems to have stalled permitting for underground operations. What is positive is that the new government is listening to the sector, which is already a major step forward. How does Sinaloa compare from a security perspective with other states in Mexico?

There is still a lot of stigma around Sinaloa. The Sinaloa cartel is one of the first associations people make with the state. The reality is quite different. The only security incidents tend to emerge at the borders between the states, where the different cartels clash. The main insecurity reports come from near the border of Sonora to the north, Chihuahua and Durango to the east (particularly in the Sierra Madre), and Culiacan to the south. The security situation has altogether improved since the new administration, and the US is also pressuring the Mexican government to control the situation. I would say the incidence of confrontations halved between September 2024 and March 2025. Cartels are not unique to Sinaloa as it is sometimes painted to be, and violence is unfortunately not unique to Mexico; you’d be surprised to find out more people die in USA than in Sinaloa due to gun violence.