A brazen armed robbery in Mexico has resulted in the theft of an estimated multimillion-dollar shipment of gold and silver concentrate, delivering a financial blow to Grupo Minero Bacis, a prominent mining company operating in the country.

According to a statement released by the company, a transport truck carrying approximately 33 metric tons of mineral concentrate — a high-value material rich in gold and silver content — was ambushed by a group of armed criminals while en route to the port city of Manzanillo on the Pacific coast. The attack occurred when the semi-truck was intercepted by two white vehicles that forced it to stop.

Once the truck was blocked, the assailants reportedly overpowered the driver and accompanying private security personnel. The victims were then held hostage at the scene for roughly 90 minutes. Though the truck itself was eventually located and recovered, the trailer — which contained the precious cargo — was successfully detached and remains missing.

Grupo Minero Bacis has not disclosed an exact valuation of the stolen material but confirmed the economic impact will run into the millions of dollars. Given current market prices and the volume of the concentrate, the loss represents a significant financial hit to the company.

This incident comes against the backdrop of a sharp rise in cargo theft across Mexico’s road networks. Data shows that criminal activity targeting freight vehicles has become increasingly common in recent years. In just the first two months of 2025, cargo robberies surged by over 33% compared to the same period the previous year. On average, an attempted robbery is reported every 50 minutes on Mexican highways.

In 2024 alone, over 24,000 cargo thefts were documented, reflecting a troubling trend in organized criminal activity and the vulnerability of logistics routes throughout the country. These thefts often target high-value items such as electronics, pharmaceuticals, and — in this case — mineral concentrates.

Gold and silver concentrate is a semi-processed product obtained after raw ore is crushed, ground, and chemically treated to increase the density of valuable metals. This material is typically shipped from mining operations to smelting facilities, where further refinement separates the pure metals from other substances.

While the authorities have yet to make any arrests or recover the missing cargo, the incident has prompted increased scrutiny over the security of high-value cargo shipments. Grupo Minero Bacis has stated it is fully cooperating with local law enforcement agencies as investigations continue.

This heist adds to growing concerns within Mexico’s industrial and commercial sectors, where the costs of transportation insecurity are mounting and the demand for more effective protection of supply chains is growing louder.