Mexicos policies for silver production and sales have not changed despite Perus decision last week to freeze its silver sales government mining and central bank officials said. The officials also expressed doubt that such a policy change was in the works. Mexico is the worlds leading silver producer and had an output of about 73.9 mln troy ounces last year according to preliminary government figures. Peru the worlds second leading silver producer last week suspended sales of the precious metal in what authorities in Lima said was an effort to protect its price in an unstable market. Since the decision Peruvian officials have said they will discuss cooperation in the silver market with Mexican officials in scheduled meetings. Last week Peruvian central bank president Leonel Figueroa and the head of the central bank of Mexico Miguel Mancera Aguayo met in Mexico City in private talks said aimed at consolidating the upward trend of silver prices. Mexican minister of energy and mines Alfredo del Mazo is also expected to meet soon with his Peruvian counterpart Wilfredo Huayta. However no Mexican decision has been made to follow the Peruvian example of suspending new silver sales Mexican officials said. One Mexican mining sector official working closely with the governments production and sales policy tolds there have been no changes in policy handed down by the central bank. The same policy that has been followed will be continued said the official who asked not to be further identified. A spokesman for the central bank said the bank had no information on any silver policy changes. An energy and mines ministry spokesman and an official in the ministrys metallurgy department also said no government silver policy change had been made. The mining sector official also said he doubted Mexico would follow Perus policy reasoning that if the two governments had intended to coordinate silver policies Mexico would have announced a sales suspension along with Peru last week. Its very probable a change wont be made the official said.
MEXICO SILVER POLICIES UNCHANGED, OFFICIALS SAY