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About German Larrea
German Larrea Mota Velasco is the chairman and CEO of Grupo Mexico, the largest mining company in Mexico and one of the top copper producers in the world. Born in 1953 in Mexico City, Larrea built upon his family's mining interests to create a diversified industrial conglomerate that spans mining, transportation, and infrastructure. Under his leadership, Grupo Mexico has become the world's third-largest copper producer, operating major mines across Mexico, Peru, and the United States.
Larrea's strategic brilliance has been in recognizing the long-term importance of copper to the global economy. As the world transitions to electric vehicles, renewable energy, and advanced electronics, copper demand has surged — and Grupo Mexico's massive reserves position the company to benefit enormously from this megatrend. His disciplined approach to capital allocation, cost management, and reserve development has made Grupo Mexico one of the most efficient mining operations on the planet.
Beyond mining, Larrea diversified Grupo Mexico into transportation through its subsidiary Grupo Mexico Transportes (GMXT), which operates the largest railroad network in Mexico. This vertical integration of mining and rail logistics has created significant competitive advantages and operational efficiencies. His quiet, methodical approach to business has made him one of the most successful industrialists in Latin American history.
Key Achievements
World's Third-Largest Copper Producer
Built Grupo Mexico into the world's third-largest copper mining company, with operations spanning three countries and massive reserves positioned to benefit from the global energy transition.
Successful Acquisition of Southern Copper
Acquired and integrated Southern Peru Copper Corporation (now Southern Copper), dramatically expanding Grupo Mexico's production capacity and reserve base in Peru and Mexico.
Built Mexico's Largest Rail Network
Diversified into transportation by acquiring and developing Mexico's largest railroad network through Grupo Mexico Transportes, creating powerful synergies with mining operations.
Achieved Industry-Leading Cost Efficiency
Maintained some of the lowest production costs in the global copper mining industry through disciplined operational management and continuous improvement in mining processes.
Notable Quotes
“Mining requires patience, discipline, and a very long-term view. The resources are there — you have to have the vision and the persistence to extract them responsibly.”
— German Larrea
“Copper is the metal of the future. Every electric vehicle, every wind turbine, every solar panel needs copper, and the world will need much more of it.”
— German Larrea
Key Decisions
Led the acquisition of Mexicana de Cananea, one of Mexico's oldest and largest copper mines, significantly expanding Grupo Mexico's domestic production capacity.
Acquired Asarco, the American Smelting and Refining Company, gaining major mining operations in the United States and establishing Grupo Mexico as a truly international mining company.
Merged Southern Peru Copper with Minera Mexico, creating the world's largest publicly traded copper producer by reserves and establishing a dominant position in the Americas.
Expanded into Mexico's railroad infrastructure by acquiring Ferromex and Ferrosur, building the country's largest rail transportation network to complement mining logistics.
Early Life
German Larrea Mota Velasco was born in 1953 in Mexico City into a family with deep roots in the Mexican mining industry. His father, Jorge Larrea, was a prominent mining engineer and executive who helped develop several of Mexico's most important mineral deposits. German studied business administration and began his career at the family's mining operations, learning the industry from the ground up — literally spending time underground in the mines before ascending to management roles. This hands-on background gave him an intimate understanding of mining operations that would prove invaluable as he expanded the family business into one of the world's largest copper producers.
Companies & Ventures
Grupo Mexico
$50B+ combined market cap (Grupo Mexico + Southern Copper)Chairman & CEO · Est. 1978
Grupo Mexico is the largest mining company in Mexico and one of the top three copper producers in the world. The conglomerate also operates GMXT, Mexico's largest railroad company by revenue (successor to the privatized Ferrocarril Mexicano), and a growing infrastructure division. Under German Larrea's leadership, Grupo Mexico has expanded its copper operations across Mexico, Peru, and the United States through its subsidiary Southern Copper Corporation, which holds some of the world's largest copper reserves — a strategically vital resource for the global energy transition.
Deep Dives
Go deeper into what makes German Larrea exceptional.
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