Without doubt, the segment to be hardest hit by the 2014 tax reforms was exploration. Expenses from mineral exploration are now only tax deductible 10 years into the project, not after one year as was previously the case. Exploration suffered as a result and Mexico dropped from being the fourth most popular destination for exploration investment in the world in 2014 to seventh in 2015. Nevertheless, companies have now adjusted to the new tax environment, and with the recovery of mineral prices in 2016, exploration bounced back. New projects are being launched and old ones are being taken off the shelves.

Given the sheer number of exploration projects in Mexico, this chapter will focus on the project, rather than technical side, of exploration. Graphics and data will provide insight into the most exciting exploration projects in Mexico and experts will assess what role these have in preserving the healthy future of the industry.