San Luis Potosí

Elevated Risk

Mexico · State · Last assessed Apr 2026

Composite Score 14/25

Higher = lower risk. 22–25 LOW · 18–21 MODERATE · 13–17 ELEVATED · 8–12 HIGH · 5–7 EXTREME.

Permitting Timeline & Predictability

2/5

Federal regime applies; state administration broadly pragmatic.

Fiscal Regime Stability

2/5

Federal royalty regime.

Political & Security Risk

3/5

Stable; less anti-mining tilt than several Morena-led states.

Infrastructure & Power

4/5

Strong highway and rail; central Mexico location with good logistics.

Indigenous, Community & ESG

3/5

Wixárika (Huichol) sacred-site issues at specific locations (Real de Catorce); otherwise standard.

Assessment Summary

San Luis Potosí hosts meaningful silver, zinc, and copper endowment and benefits from a central-Mexico location with strong transport links. The state administration has been less rhetorically hostile to mining than several other Morena-led state governments.

The Wixárika (Huichol) sacred-site claims around Real de Catorce have effectively blocked silver development in that specific district, but this is a localised rather than statewide dynamic. Operations elsewhere in the state run with standard Mexican operating profiles.

Other Mexico Jurisdictions

Chihuahua Elevated Risk
Durango High Risk
Guerrero High Risk
Oaxaca High Risk
Sinaloa High Risk
Sonora Elevated Risk
Zacatecas Elevated Risk

Jurisdiction risk is one input — geology, capital structure, and management still matter. See the Verdict Framework for full company scorecards.