A Bright Future Ahead for the Mining Industry
The market potential for precious metals increased because of the rising demand for luxury articles. In addition, AIMMGM said that companies must rethink their actions to tackle climate change and strengthen those that showed results. The legal procedure allows Minera Cuzcatlán to continue operating under the EIA previously authorized by SEMARNAT.
Ready for more? Here is your weekly roundup!
Mining Sector’s Growth Driven by Precious Metals
Research forecasted that the Mexican mining industry’s value will continue to grow at a slow but steady pace owing to increasing demand for different minerals like gold, silver and copper. The Mexican mining sector’s market value totals US$1.8 billion. A report from Grand View Research predicted that its value will grow by 2.9% year-to-year between 2023 and 2030. According to Grand View, the sector’s value will reach US$1.87 billion in 2023 US$2.3 billion in 2030.
AIMMGM Insists on Commitment to Climate Change Action
Within the framework of World Environmental Education Day, the Association of Mining, Metallurgic and Geology Engineers of Mexico (AIMMGM) urged the government and the mining sector to commit to working on projects to tackle climate change. The association stressed that the industry must take on a leading role as it is a fundamental industry for the energy transition.
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.
SilverCrest Metals Reports Strong 4Q22
Canada-based mining company SilverCrest Metals reported its 4Q22 operational results and gave an update on the Las Chispas Mine, one of its most important assets. The company stated that both its finances and the Las Chispas mine touted a positive and on-budget performance.
Endeavour Silver Files Reports for Guanacevi, Bolañitos
Endeavour Silver filed the technical reports of its Guanacevi and Bolañitos mines, prepared following the National Instrument 43-101 Standards of Disclosure for Mineral Projects. The company reported it found that inferred mineral resources were not economically viable and cannot be converted into a mineral reserve. Moreover, the company expects but does not guarantee that the majority of inferred mineral resources may be upgraded to indicated mineral resources with continued exploration.