Grupo Mexico

What Grupo Mexico does

Grupo México S.A.B. de C.V. is a Mexican diversified conglomerate headquartered in Mexico City and publicly listed on the Bolsa Mexicana de Valores under ticker GMEXICOB (and OTC as GMBXF), controlled by the Larrea family through Executive President Germán Larrea Mota-Velasco. The company operates across three primary divisions — Mining, Transportation, and Infrastructure — with a Foundation division operating community programs. Through its 88.9%-owned Southern Copper Corporation (NYSE: SCCO), Grupo México is the world's 4th largest copper producer and holds the largest copper reserves globally, operating 14 underground and open-pit mines and 52 smelters, refineries, and plants across Mexico, Peru, the USA, Argentina, Chile, Ecuador, and Spain.

The Mining division produces copper cathode (via the world's largest SX/EW solution processing systems at Buenavista del Cobre Plant III), silver, molybdenum, zinc, gold, selenium, and sulfuric acid. The Transportation division operates one of eight Class I railroads in North America, with 11,137 km of track across 24 Mexican states plus Florida and Texas, connecting 5 Pacific, 4 Gulf of Mexico, and 4 Atlantic ports with 8 interchange points to U.S. and Canadian networks. The Infrastructure division encompasses Perforadora México (drilling), México Compañía Constructora (construction with 80+ years of experience), Grupo México Energía (500 MW combined cycle plus 242 MW wind capacity), Grupo México Autopistas, and Grupo México Combustibles. Together these divisions generated US$16.169 billion in 2024 revenue, US$8.377 billion in 2024 EBITDA, and US$3.875 billion in 2024 net profit, with H1 2026 revenue up 33.8% YoY to US$11.283 billion and Q2 2026 EBITDA up 49.6% YoY.

Grupo México's business model is a vertically integrated B2B enterprise operating across commodity production (copper priced on global markets), negotiated rail freight contracts with industrial shippers (automotive, agricultural, cement, energy, metals, chemicals), and competitive bidding for government infrastructure contracts. Mining economics are anchored by industry-leading low cash costs of US$0.40/lb in Q2 2026 (down 56.7%), enabling outsized margin expansion during copper price rallies. The company is pursuing a US$10.2 billion investment portfolio including Tía María (US$1.8B, Peru, 42% complete), El Arco, and El Pilar projects, while creating Mexico's largest private electricity platform through a US$5.5 billion 70/30 joint venture with BlackRock's Global Infrastructure Partners-backed Saavi Energía, adding 4,510 MW of installed capacity and a 5,000 MW development pipeline for vertical integration into mining energy supply.

Name

Grupo Mexico

Legal name

Grupo México S.A.B. de C.V.

Website

https://gmexico.com

Company type

Public

Founded year

1936

Operating status

Operating

Headcount range

5,001–10,000 employees

Short description

Grupo México is a Mexican diversified conglomerate operating the world's 4th largest copper mining business (via 88.9%-owned Southern Copper), one of eight Class I railroads in North America (11,137 km of track), and infrastructure construction, drilling, energy, and highway concessions across seven countries.

Ownership category

akta.pro rank

Product category

Diversified Mining and Transportation Conglomerate

NAICS

Copper, Nickel, Lead, and Zinc Mining (212230), Other Metal Ore Mining (212290), Coal and Other Mineral and Ore Merchant Wholesalers (42352)

SIC

Metal Mining (1000), Railroads, Line-Haul Operating (4011)

akta.pro primary industry

Copper Anode/Cathode Production & Handling (IMAKADAG)

akta.pro secondary industries

Copper Logistics, Storage & Port Operations (IMAKADAJ), Concentrates & Intermediate Feedstocks Marketing (Concentrates, Cathodes, Anodes, Alumina) (IMAKAJAJ), Industrial Minerals & Chemicals (Non-Haz Bulk Powders) Transport (TLADAKAJ), Exploration & Resource Development (Critical Minerals) (IMAKAFAL)

Keywords

• Copper mining production
• Freight rail services
• Infrastructure construction
• Mining by-product metals
• Energy generation

Headquarters

HQ city

Mexico City

HQ country

Mexico

HQ region

Latin America

Offices8 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Supply Chain, Personnel, Infrastructure, Technology or R&D

Revenue model

1. Mining Division: Revenue from copper, silver, molybdenum, zinc, gold, selenium, and sulfuric acid production through Southern Copper Corporation (88.9% owned), ASARCO, Americas Mining Corporation, and Minera Los Frailes in Spain. The division generated US$10.861 billion in sales (2024) and US$5.717 billion in Q2 2026, with copper as the primary revenue driver. Cash costs per pound of copper have been reduced to US$0.40, among the lowest in the industry.
2. Transportation Division: Freight rail and intermodal services across Mexico, the United States (Florida and Texas), generating revenues from shipping agricultural, automotive, cement, energy, metals/minerals, industrial products, and chemical/fertilizer cargoes. Operates through Ferromex, Ferrosur, Florida East Coast, Texas Pacific, and Intermodal México subsidiaries.
3. Infrastructure Division: Revenue from drilling services, construction projects, energy generation (wind farms and combined cycle plant), highway concessions, fuels, and engineering services through subsidiaries including Perforadora México, México Compañía Constructora, Grupo México Energía, Grupo México Autopistas, and Grupo México Combustibles. Generated US$710 million in sales (2023).
4. Foundation / Social Programs: Dr. Vagón health train provides medical services to remote communities; Conciencia Cinemex raises funds for institutions. These are social/CSR programs rather than profit-generating.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels5 records

Core offering

Grupo México is a diversified mining, transportation, and infrastructure conglomerate that primarily produces copper (cathode, concentrate, wire rod) and by-product metals (silver, molybdenum, zinc, gold, selenium, sulfuric acid) through Southern Copper Corporation, ASARCO, and related subsidiaries operating 14 mines and 52 processing plants. It also operates one of the largest freight rail networks in North America (11,137 km across Mexico, Florida, and Texas) providing cargo and intermodal services, and an infrastructure division delivering drilling, construction, energy generation, highway concessions, and engineering services.

Product overview

Grupo Mexico is a diversified Mexican conglomerate organized into three primary divisions: Mining, Transportation, and Infrastructure. The Mining division, led by Southern Copper Corporation (88.9%-owned), is the world's 4th largest copper producer and controls the largest copper reserves globally, operating 14 mines across Mexico, Peru, the U.S., Argentina, Chile, Ecuador, and Spain. The Transportation division operates through Grupo Mexico Transportes, one of eight Class I railroads in North America, covering 11,137 km of track under brands Ferromex, Ferrosur, Florida East Coast, and Texas Pacific. The Infrastructure division encompasses drilling (Perforadora México), construction (México Compañía Constructora), energy (Grupo México Energía with 500MW combined cycle and 242MW wind capacity), highways (Grupo México Autopistas), and fuels operations. The company's Foundation division operates Dr. Vagón health train and community development programs.

Differentiator

Problem solved

Functional benefit

Quantifiable outcome

• Q2 2026 net profit increased 79-90.9% year-over-year to US$2.20 billion, driven by 30.5% rise in copper prices to US$6.16/lb
• +4 more outcomes

Named customers6 records

Segments4 records

Ideal customer profiles3 records

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature2 records

Partnerships

Five partnerships are on record, tiered core and minor.

• Saavi Energía (Global Infrastructure Partners)coreStrategic or Co-development Partner · 27 April 2026Grupo México merged its electricity generation assets with Saavi Energía (backed by BlackRock's Global Infrastructure Partners), creating Mexico's largest private electricity generation platform with 14 plants totaling 4,510 MW of installed capacity plus a 5,000 MW development pipeline. The combined entity is 70% owned by Grupo México and 30% by GIP. The deal, valued at approximately US$5.5 billion, is expected to close in Q3 2026, subject to regulatory approvals including European Commission clearance. It will serve as a vertical integration tool for Grupo México's mining division, securing low-cost self-supply electricity.
• Mexico Infrastructure Partners (MIP Real Assets)minorChannel Partner/ Reseller/ Distributor · 1 September 2025Mexico Infrastructure Partners acquired a highway from Grupo México as part of its US$12 billion infrastructure investment program in Mexico.
• MetsocoreTechnology or Integration · 30 June 2025Metso, a Finnish mining equipment company, secured a contract worth over €20 million to supply high-capacity Nordberg® MP800 cone crushers to Grupo México's La Caridad copper concentrator plant in Nacozari, Sonora, Mexico. The MP800 crushers offer 15% greater capacity and force compared to earlier models, with enhanced automation, improved chamber design, and safer maintenance features designed to reduce operating costs and improve reliability. This delivery strengthens the long-standing strategic partnership between Metso and Grupo México.
• Mexico Infrastructure Partners (MIP Real Assets)minorStrategic or Co-development Partner · 1 January 2015MIP Real Assets committed over US$1 billion to acquire a highway from Grupo México and purchase stakes in wind farms from Acciona Energia, as part of MIP's plan to invest US$12 billion in Mexican renewable energy and highway projects over five years.
• Florida East Coast Railway (Norfolk Southern)coreStrategic or Co-development PartnerFlorida East Coast Railway (a Grupo México subsidiary) entered into a strategic alliance with Norfolk Southern to expand intermodal services, providing direct rail access from the Florida Peninsula to Chicago, Cincinnati, Harrisburg, Kansas City, Memphis, St. Louis, and Southern California. This alliance enhances the competitiveness of Grupo México's North American rail network.

Scale indicators16 records

Recent moves7 records

Expansion highlights5 records

Direct peers

• Freeport-McMoRan: World's largest publicly traded copper producer, operating large-scale copper mines in the Americas (including ASARCO-like operations) with smelting and refining capacity. Closely comparable to Grupo México on copper mining scale, geographic mix in the Americas, and integrated mine-to-metal operations.
• Codelco: Chilean state-owned copper mining company and the world's largest copper producer. Operates multiple large mines (Chuquicamata, El Teniente) directly competing with Southern Copper on cathode output, by-products, and global offtake markets in the same product categories.
• Antofagasta PLC: Chile-based copper miner operating Los Pelambres, Centinela, and Antucoya, producing copper concentrate, cathodes, and by-products (molybdenum, gold). Direct comparable on copper mining in South America with integrated concentrate-to-cathode operations similar to Southern Copper.
• First Quantum Minerals: Mid-cap copper-focused miner producing copper concentrate and cathode at Cobre Panamá (suspended), Sentinel, and Kansanshi. Comparable to Grupo México on copper mining specialization and cathode/concentrate output, though with smaller scale and higher jurisdictional exposure.
• KGHM Polska Miedź: Polish copper and silver producer operating integrated mining, smelting, and refining in Europe, producing copper cathode and silver as primary outputs. Comparable to Grupo México on integrated mine-to-cathode copper operations with significant silver by-product credits.

Broad incumbents

• BHP Group: Global diversified miner with a major copper business (Escondida in Chile, Pampa Norte) that directly competes with Grupo México's Southern Copper operations in copper concentrates, cathodes, and by-products. Comparable on copper segment economics but operates across iron ore, coal, and potash as well.
• Rio Tinto: Diversified global miner with significant copper operations (Kennecott, Oyu Tolgoi) producing refined copper, gold, and molybdenum as by-products. Comparable to Grupo México on copper mining scale and by-product credits, though broader portfolio includes iron ore, aluminum, and minerals.
• Glencore: Major diversified miner and commodity trader with substantial copper mining (Antapaccay, Las Bambas) plus copper concentrate and cathode marketing activities. Comparable to Grupo México across copper mining and metal trading/distribution, though Glencore adds coal, zinc, and oil trading.
• Anglo American: Diversified miner with major copper assets (Los Bronces, Collahuasi joint venture) producing copper concentrate and cathode. Comparable to Grupo México's mining division on copper fundamentals and Latin American footprint, with broader exposure to diamonds, platinum, and iron ore.
• Union Pacific Corporation: Largest US Class I railroad, operating extensive freight rail network comparable to Grupo México Transportes' Ferromex/Florida East Coast operations. Directly comparable on intermodal, automotive, agricultural, and industrial freight rail business model across North America.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights7 records

Customer concentration

• Xx.com/gmexico_oficial
• YouTubeyoutube.com/channel/UC7adil7xiWBtenM9BQeq8Qw
• Facebookfacebook.com/gmexico.oficial
• LinkedInlinkedin.com/company/grupo-mexico
• Instagraminstagram.com/gmexico_oficial

Compliance4 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Subsidiaries16 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A3 records

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Grupo Mexico