The history of the Palace of Mines dates back to 1793 when the Royal College of Mines of New Spain acquired the land where the building now stands with the help of Viceroy Juan Vicente de Güemes, 2nd Count of Revillagigedo, who commissioned the design and construction to the prominent architect Manuel Tolsá, who was also the sculptor of the equestrian sculpture of Charles IV, known as "El Caballito" as well as the final stage of construction of the Metropolitan Cathedral in Mexico City.

The Mining Palace therefore reflected in its sober and elegant architecturally maintained proportions, the Enlightenment ideal of reason and order to attain knowledge and how that knowledge could positively transform reality through scientific exploitation of mineral resources, thus becoming one of the first institutions for technological development in the Americas.

After military revolts that occurred during the first half of the nineteenth century and after a partial reconstruction by architect Antonio Villard, without altering the original design of Manuel Tolsá, the Mining Palace was closed and was even considered for use as the imperial palace of Emperor Maximilian I of Mexico before he chose the Castle of Chapultepec as his residence.

Inside this magnificent building are the Courtyard, the Lecture Hall, the former chapel of the Virgin of Guadalupe and its lavish steps, immortalized by various artists and writers throughout history.

Currently the Palace of Mining is part of the heritage of the UNAM, and in it are held various conferences, courses, and events including the International Book Fair of the Mining Palace, one of the more significant literary events in the city, wherein editorial conferences of publishers from the Spanish-speaking world are held.