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Proc-Type: 2001,MIC-CLEAR
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<SEC-DOCUMENT>0000945234-04-000724.txt : 20041119
<SEC-HEADER>0000945234-04-000724.hdr.sgml : 20041119
<ACCEPTANCE-DATETIME>20041119125712
ACCESSION NUMBER:		0000945234-04-000724
CONFORMED SUBMISSION TYPE:	6-K
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20041118
FILED AS OF DATE:		20041119
DATE AS OF CHANGE:		20041119

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			METHANEX CORP
		CENTRAL INDEX KEY:			0000886977
		STANDARD INDUSTRIAL CLASSIFICATION:	INDUSTRIAL ORGANIC CHEMICALS [2860]
		IRS NUMBER:				000000000
		STATE OF INCORPORATION:			A1
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		6-K
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	000-20115
		FILM NUMBER:		041157191

	BUSINESS ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
		STATE:			A1
		ZIP:			00000
		BUSINESS PHONE:		6046847500

	MAIL ADDRESS:	
		STREET 1:		1800 WATERFRONT CENTER
		STREET 2:		200 BURRARD STREET
		CITY:			VANCOUVER BC CANADA
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>o14736e6vk.htm
<DESCRIPTION>NEWS RELEASE DATED NOVEMBER 18, 2004
<TEXT>
<HTML>
<HEAD>
<TITLE>News Release Dated November 18, 2004</TITLE>
</HEAD>
<BODY bgcolor="#FFFFFF">
<!-- PAGEBREAK -->
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<HR size="4" noshade color="#000000" style="margin-top: -5px">
<HR size="1" noshade color="#000000" style="margin-top: -10px">

<P align="center"><FONT size="4"><B>UNITED STATES<BR>
SECURITIES AND EXCHANGE COMMISSION</B><BR>
</FONT>
<FONT size="3"><B>WASHINGTON, D.C. 20549</B>
</FONT>


<P align="center"><FONT size="5"><B>FORM 6-K</B>
</FONT>

<P align="center"><FONT size="2"><B>REPORT OF FOREIGN PRIVATE
ISSUER<BR>&nbsp;<BR>
PURSUANT TO RULE 13a-16 OR 15d-16<BR>UNDER THE SECURITIES EXCHANGE ACT OF 1934</B>
</FONT>

<P align="center"><FONT size="2"><B>FOR THE MONTH OF NOVEMBER 2004</B>
</FONT>

<CENTER>
<P align="center"><FONT size="6"><B>METHANEX CORPORATION</B></FONT>
<FONT size="2">
<HR size="1" width="60%" noshade align="center">
<I>(Registrant&#146;s name)</I>
</FONT>
</CENTER>
<CENTER>
<P align="center"><FONT size="2"><B>SUITE 1800, 200 BURRARD STREET, VANCOUVER, BC V6C 3M1 CANADA</B>
<HR size="1" width="60%" noshade align="center">
<I>(Address of principal executive offices)</I>
</FONT>
</CENTER>

<P><FONT size="2">Indicate by check mark whether the registrant files or will file annual reports
under cover Form&nbsp;20-F or Form&nbsp;40-F.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="70%">
<TR valign="bottom">
        <TD width="49%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top" nowrap align="center"><FONT size="2">Form&nbsp;20-F&nbsp;&nbsp;&nbsp;</FONT><FONT
face="wingdings">&#111;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" nowrap valign="top"><FONT size="2">Form&nbsp;40-F&nbsp;&nbsp;&nbsp;</FONT><FONT
face="wingdings">&#120;</FONT></TD>
</TR>
</TABLE>
</CENTER>
<P><FONT size="2">Indicate by check mark whether the registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule&nbsp;12g3-2(b) under the Securities Exchange Act of 1934.
</FONT>

<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="70%">
<TR valign="bottom">
        <TD width="49%">&nbsp;</TD>
        <TD width="2%">&nbsp;</TD>
        <TD width="49%">&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top" nowrap align="center"><FONT size="2">Yes&nbsp;&nbsp;&nbsp;</FONT><FONT
face="wingdings">&#111;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD align="center" nowrap valign="top"><FONT size="2">No&nbsp;&nbsp;&nbsp;</FONT><FONT
face="wingdings">&#120;</FONT></TD>
</TR>
</TABLE>
</CENTER>



<P><FONT size="2">If &#147;Yes&#148; is marked, indicate below the file number assigned to the registrant in
connection with Rule&nbsp;12g3-2(b): 82-<U>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;</U>.
</FONT>

<P>
<HR size="1" noshade color="#000000" style="margin-top: -2px">
<HR size="4" noshade color="#000000" style="margin-top: -10px">
<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<P align="center"><FONT size="2"><B>SIGNATURES</B>
</FONT>

<P><FONT size="2">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on behalf by the
undersigned, thereunto duly authorized.
</FONT>


<CENTER>
<TABLE cellspacing="0" border="0" cellpadding="0" width="100%">
<TR valign="bottom">
        <TD width="47%">&nbsp;</TD>
        <TD width="6%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="1%">&nbsp;</TD>
        <TD width="45%">&nbsp;</TD>
</TR>
<TR valign="bottom">
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD colspan="3" align="left" valign="top"><FONT size="2"><B>METHANEX CORPORATION</B></FONT></TD>
</TR>
<TR>
 <TD>&nbsp;</TD>
</TR>
<TR valign="bottom">

<TD valign="top"><FONT size="2">Date: November 18, 2004</FONT></TD>
        <TD valign="top"><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">By:</FONT></TD>
        <TD><FONT size="2">&nbsp;</FONT></TD>
        <TD valign="top"><FONT size="2">/s/&nbsp;&nbsp;&nbsp;RANDY MILNER
<HR size="1" width="95%" align="left" noshade>
Name:&nbsp;&nbsp;Randy Milner<BR>
Title:&nbsp;&nbsp;&nbsp;&nbsp;Senior Vice President, General Counsel<BR>
&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&#38; Corporate Secretary</FONT></TD>
</TR>
</TABLE>
</CENTER>

<P align="center"><FONT size="2">&nbsp;
</FONT>

<!-- PAGEBREAK -->
<P><HR noshade><P>
<H5 align="left" style="page-break-before:always">&nbsp;</H5><P>
<DIV style="font-family: 'Times New Roman',Times,serif">

<DIV align="center">
<TABLE style="font-size: 10pt" cellspacing="0" border="0" cellpadding="0" width="100%">
<!-- Begin Table Head -->
<TR valign="bottom">
    <TD width="46%">&nbsp;</TD>
    <TD width="5%">&nbsp;</TD>
    <TD width="29%">&nbsp;</TD>
</TR>
<!-- End Table Head -->
<!-- Begin Table Body -->
<TR valign="bottom">

<TD valign="top"><DIV style="margin-left:0px; text-indent:-0px; font-size: 36pt"><B><I>NEWS RELEASE</I></B>
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top"><IMG src="o14736o1473601.gif" alt="(METHANEX LOGO)"></TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Methanex Corporation</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">1800 &#150; 200 Burrard St.</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Vancouver, BC Canada V6C 3M1</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Investor Relations: (604)&nbsp;661-2600</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">http://www.methanex.com</TD>
</TR>

<TR valign="bottom">
    <TD valign="top"><DIV style="margin-left:0px; text-indent:-0px">
</DIV></TD>
    <TD>&nbsp;</TD>
    <TD align="right" valign="top">Toll Free: 1-800-661-8851</TD>
</TR>

<!-- End Table Body -->
</TABLE>
</DIV>



<P align="left" style="font-size: 10pt"><B><I>For immediate release</I></B>



<P align="left" style="font-size: 10pt"><B>METHANEX ANNOUNCES INCREASE IN SHARE REPURCHASE PROGRAM AND DECLARES QUARTERLY
DIVIDEND</B>



<P align="left" style="font-size: 10pt"><B>November&nbsp;18, 2004</B>


<P align="left" style="font-size: 10pt">Methanex Corporation announced today that its Board of Directors has approved
an increase in the Company&#146;s current normal course issuer bid, raising the
maximum allowable repurchase from 6,143,543 common shares to 12,178,092 common
shares, or 10% of the public float. At the close of business on November&nbsp;18,
2004, the Company had repurchased 5,187,100 common shares under the bid.


<P align="left" style="font-size: 10pt">The Company also announced today that its Board of Directors has declared a
quarterly dividend of US$0.08 per share that will be payable on December&nbsp;31,
2004 to holders of common shares of record on December&nbsp;17, 2004.


<P align="left" style="font-size: 10pt">Bruce Aitken, President and CEO of Methanex commented, &#147;Both of these
announcements reflect our balanced approach to the utilization of cash and
demonstrate our ongoing commitment to returning excess cash to shareholders.&#148;
Mr.&nbsp;Aitken added, &#147;Our low-cost production facilities and leading market
position have combined with strong methanol pricing to allow us to continue to
generate significant cash flow from operating activities over recent quarters.
We have excellent financial strength and flexibility with US$162&nbsp;million in
cash at the end of the third quarter 2004, an undrawn US$250&nbsp;million credit
facility and an outlook for continued strong cash generation.&#148;


<P align="left" style="font-size: 10pt">Mr.&nbsp;Aitken concluded, &#147;We have the financial capacity to complete our capital
maintenance spending program, the current normal course issuer bid, the
construction of Chile IV and to pursue new opportunities to enhance our
strategic position in methanol.&#148;


<P align="left" style="font-size: 10pt">The normal course issuer bid repurchase program was filed and accepted by the
Toronto Stock Exchange (TSX)&nbsp;on May&nbsp;13, 2004. The program is carried out
through the facilities of the TSX. Purchases under the program, which
commenced on May&nbsp;17, 2004, will terminate on the earlier of May&nbsp;16, 2005 and
the date upon which the Company has acquired the maximum number of common
shares permitted under the program or otherwise decided not to make further
purchases. Purchases will be made from time to time at the then current
market price of the Company&#146;s common shares as traded on the TSX and the
common shares purchased will be cancelled.


<P align="left" style="font-size: 10pt">Methanex believes that purchasing its shares under the normal course issuer
bid is in the best interests of its shareholders and represents an effective
use of the Company&#146;s financial resources. Methanex intends to finance the
purchase of common shares under the bid with cash on hand.


<P align="left" style="font-size: 10pt">Methanex, based in Vancouver, is the world&#146;s largest producer and marketer of
methanol. Methanex shares are listed for trading on the Toronto Stock
Exchange in Canada under the trading symbol &#147;MX&#148; and on the Nasdaq National
Market in the United States under the trading symbol &#147;MEOH.&#148;



<P align="center" style="font-size: 10pt">- end -


<P align="left" style="font-size: 10pt"><B>Inquiries:</B>


<P align="left" style="font-size: 10pt">Chris Cook<BR>
Director, Investor Relations


<P align="left" style="font-size: 10pt">Phone: (604)&nbsp;661-2600



<P align="center" style="font-size: 10pt">
</DIV>


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end

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