2023 Will Continue to Be Marked by Uncertainty
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2023 Will Continue to Be Marked by Uncertainty

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Karin Dilge By Karin Dilge | Journalist and Industry Analyst - Thu, 02/09/2023 - 10:00

Uncertainty continues to be a main concern for companies operating in Mexico. However, in mining states where the industry is an important economic driver, governments are working to facilitate mine developments in the coming year. What is more, companies continue to show positive results.


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Federal Court Allows Minera Cuzcatlán to Continue Operations

Fortuna Silver Mines has reported that a federal court has granted an injunction to allow its Mexican subsidiary, Minera Cuzcatlan, to continue operating its San Jose mine under the terms of the 12-year Environmental Impact Assessment (EIA) previously granted by the Ministry of the Environment and Natural Resources (SEMARNAT). The company assured that it is in full compliance with environmental regulations. Its authorization should therefore remain in force.

2023’s Mining Industry Marked by Opportunity, Uncertainty

Although Mexico is the home of key mining projects, political uncertainty has affected the performance and profits of mining companies. The outlook has improved somewhat as the government has loosened its stance on mining issues in recent years and new demand for key mining outputs materialized. In this environment, local governments in key mining states like Sonora are working to help facilitate mine developments in 2023.

Uncertainty Remains a Mining Issue Despite Solid Legal Foundation

The political uncertainty created by the government has led some companies to consider whether to leave Mexico because their projects are threatened, as players have no clarity on whether new concessions and permits will be approved in the short term. Nevertheless, legal experts emphasize that Mexico already has an excellent regulatory framework for mining operations that could be the basis for further developments in the country.

GM, Lithium Americas to Boost Lithium Production in North America

GM and Lithium Americas just announced a US$650 million investment to boost lithium production in the US, as both companies seek to capitalize on the industry’s growing demand for EVs, reads a Lithium Americas' press release. The investment will be used to support the development of the Thacker Pass lithium project in Nevada, which is expected to become one of the largest lithium mines in the world and create 1,000 jobs in construction and 500 in operations.

60% of Water Used by Mining Sector Comes From Wastewater

According to Karen Flores, Director, CAMIMEX, more than 60% of the water consumed by the mining sector players affiliated with the chamber comes from treated and recycled wastewater. The figure contradicts recent statements from Mexican authorities, which suggested that companies are overly reliant on scarce drinking water.

Torex Gold: Record-Breaking Year Amid a Challenging Environment

Despite the strong inflationary pressure of 2022 in addition to a slew of challenges for Mexico’s mining companies, leading Mexican gold producer Torex Gold closed an outstanding year as it surpassed production expectations owing to its operational discipline.

Sonoro Gold Updates Mineral Resources Estimate at Cerro Caliche

The Canadian mining company Sonoro Gold announced a Mineral Resource Estimate (MRE) update for its Cerro Caliche gold project in Sonora. The report is based on a total of 59,500m of drilled data including 544 drill holes, 17 trenches and assays for 57,500m of the drilled data.

Altaley Mining Foresees Increased Production in 2023

Altaley Mining provided updated its operation plans for 2023 and announced it expects strong performance this year, including increased production of 1,000t/d. The company reported that updates at the Tahuehueto Gold Mine project are underway. The construction is expected to achieve critical milestones during 2023 to achieve the nameplate of 1,000t/d capacity. Construction of the initial 500t/d operation is anticipated to be completed in 2Q23.

Photo by:   Zac Edmonds

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