In recent days, reports have surfaced about Grupo México’s interest in taking part in the privatization of the Belgrano Cargas and San Martín railways.
By Panorama Minero
Grupo México is a major holding company composed of three divisions—Mining, Transportation, and Infrastructure. It is the fourth-largest industrial conglomerate in Mexico, with a market capitalization exceeding US$27 billion.
Grupo México in the Mining Industry
Southern Copper Corporation (SCC), its mining division, ranks as the world’s fourth-largest copper producer, with an output of approximately 973,000 tons in 2024. The company is among the most competitive in the industry, with a production cost of US$0.89 per pound of copper produced, net of by-products. The organization also highlights its position as the world’s largest holder of copper reserves, totaling around 112 million pounds.
All of its mines, smelters, and refineries are located in Peru and Mexico. In Peru, the Toquepala and Cuajone mines—both large open-pit operations in the southern part of the country—have been producing for over five decades, complemented by a smelting and refining complex in Ilo. The company also has major projects in different stages of development, including Tía María, Los Chancas, and Michiquillay. In Mexico, the company operates the La Caridad and Buenavista Del Cobre open-pit mines, as well as a complex of underground mines producing silver and zinc.
In addition to its productive operations in Peru and Mexico, Grupo México conducts exploration activities in Argentina, Chile, Spain, and Ecuador. In the United States, through ASARCO (American Smelting and Refining Company), Grupo México operates copper mines, smelters, and refineries in Texas and Arizona.
Transportation and Infrastructure Divisions
As a leader in transportation, Grupo México operates more than 11,000 kilometers of railways across 24 Mexican states, as well as in the United States—particularly in Florida and Texas. This railway system connects with five ports on the Pacific Ocean, four on the Gulf of Mexico, and four on the Atlantic Ocean.
Its freight transport services include both general and intermodal rail cargo. The company also offers auxiliary management services for terminals and intra-terminal transfers, along with seamless integration with U.S. and Canadian railroads through eight connection points.
Argentina’s Freight Railway System
Under the Ley de Bases, Argentina’s national government has begun the process of privatizing the company Belgrano Cargas y Logística S.A. The main interested parties include major grain exporters such as Aceitera General Deheza (AGD), Bunge, Cargill, Louis Dreyfus Company (LDC), and ACA (Asociación de Cooperativas Argentinas).
Beyond the previously mentioned group of grain exporters, a mining giant—Grupo México—has also joined the process. The presence of a major mineral producer, both in terms of quantity and volume, requires an efficient logistics system to ensure the timely and proper shipment of its output through ports located on the Atlantic Ocean.
To enhance competitiveness, Argentina’s copper projects require strong railway connectivity. The privatization of Belgrano Cargas y Logística S.A. thus represents a critical step for Argentina to restart its copper production.
