Image credits: Americas Gold and Silver
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Weekly Roundups

Americas Gold and Silver’s Mine is Still Blocked

By Paloma Duran | Thu, 08/12/2021 - 14:27

Americas Gold and Silver has requested the intervention of the Mexican authorities as its San Rafael mine continues to be blocked. Endeavour Silver announced that it will suspend operations at its El Compas mine because its resources are depleted. In addition, SilverCrest’s Las Chispas Project construction has been on schedule with a good progression and safety measures.

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Americas Gold and Silver’s San Rafael Mine is Still Blocked

Americas Gold and Silver has announced that after a month of signing an agreement to restart operations at its San Rafael mine in Sinaloa, the mine is still blocked. The company accused the representatives of the mining union headed by Senator Napoleón Gómez Urrutia for not complying with the commitments of the agreement. Consequently, Americas Gold and Silver has requested the immediate intervention of President López Obrador and the Ministries of the Interior, Labor and Social Welfare and Economy to reopen the mine and resume operations.

Operations at El Compas Mine Will Be Suspended

Endeavour Silver Corp. has announced that it will suspend mining operations at its El Compas mine in August after depleting the mine's reserves. The company said the mine assets and key talent will be transferred to the other company's projects such as Bolañitos and Terronera. "This asset represents less than 5 percent of 2021consolidated production and will not affect our progress toward meeting or exceeding our production guidance for the year," said Dan Dickson, CEO of Endeavour Silver Corp.

SilverCrest Releases Update on Las Chispas Construction

SilverCrest has provided an update on construction activities at the Company’s Las Chispas Project in Sonora. Concrete foundation work is 74 percent complete, plant tank construction and key infrastructure projects (powerline, road, and bridge) commenced, underground infrastructure ongoing, and plant detailed engineering 90 percent complete. The company expects to have completed 80 percent of construction by the end of 2021, while commissioning of ore from the plant is expected in 2Q22.

Rising Metal Prices Boost Fresnillo Profits

Fresnillo has published its 1H21 operational and financial results, showing a significant increase in profits due to rising metal prices and increased production volumes. The company explained these strong results have allowed it to continue to advance in its development and exploration projects, such as Juanicipio in Zacatecas. In addition, Fresnillo is currently analyzing any potential impact the new law could restrict the possibility of outsourcing labor in Mexico could have. However, it is not expected to affect production during 2H21.

UN Urges Grupo México to Repair Damage Caused at Cananea

The High Commissioner’s Office for Human Rights of the United Nations has demanded that Grupo México accelerate and strengthen its compensation process for the people affected by the Buenavista Cobre mine spill, in addition to cleaning and rehabilitating the ecosystems near the Sonoro and Bacanuchi rivers that were highly affected. “Companies must ensure due diligence in their processes and correct their mistakes. (…) It is essential to achieve adequate reparation and ensure non-repetition to effectively guarantee the rights of the victims.”

Solar Energy Demand to Stimulate Mining Sector

As solar energy technology displaces coal as the cheapest energy source and world´s governments strive to ramp up their energy transition efforts to meet net zero commitments under the 2015 Paris Climate agreement, demand for integral components like non-ferrous metals aluminum, copper and zinc are expected to double by 2040, reports Wood Mackenzie.

The data used in this article was sourced from:  
MBN, Outlet Minero
Paloma Duran Paloma Duran Junior Journalist and Industry Analyst