AHMSA Seeks Capital Injection to Resume Operations

AHMSA, amid bankruptcy and insolvency proceedings, is actively seeking investors capable of injecting at least US$350 million to restart operations in Coahuila. In other news, ArcelorMittal has laid off 1,224 unionized workers in Mexico due to an illegal strike at its Lazaro Cardenas facilities in Michoacan, according to BNamericas. The company stated that these actions were necessary and in compliance with the law. 

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ArcelorMittal Dismisses 1,200 Workers Amid Labor Dispute

ArcelorMittal has laid off 1,224 unionized workers in Mexico as a result of the illegal strike at its Lazaro Cardenas facilities in Michoacan. ArcelorMittal argues that the continuation of the strike has demanded the implementation of drastic actions, all conducted in accordance with the law.

Minaurum Gold Secures Amparo to Safeguard Alamos Project

Minaurum Gold announced that the amparo it filed to protect its Alamos project in Sonora has been approved by the Mexican Federal Administrative Court. This decision ensures that the company's Alamos silver project remains unaffected by the Mining Law Reform.

Responsible Mining Builds Value for all Stakeholders
Jody Kuzenko, President and CEO, Torex Gold, highlights the importance of effective communication and community relations, emphasizing that Torex Gold maintains storefront offices for continuous interaction with local residents. This approach ensures the company listens to community feedback and addresses concerns promptly.

Nickel Prices to Remain Stable Amid Growing Supply

Nickel prices are projected to be around US$18,000/t in 2024, primarily due to ongoing excess supply from China and Indonesia, according to BMI, a subsidiary of Fitch Solutions. However, by 2028, the company expects prices to increase to US$21,500/t, driven by rising demand for electric vehicle EV batteries.

AHMSA Seeks New Investors to Resume Operations

AHMSA, amid bankruptcy and insolvency proceedings, is actively pursuing investors capable of injecting new capital into the company. AHMSA has disclosed the need for at least US$350 million to facilitate the restart of its operations in Coahuila.