CAMIMEX Annual Report Spotlights Industry’s Social Resolve

The Week in Mining looks at events in Mexico, where CAMIMEX released its annual report on the state of the Mexican Industry, Newmont reached an agreement with the Cedros community and Vizsla made a promising discovery in Sinaloa. Also, gold and silver prices retreated — but only momentarily.

This and more in your weekly mining roundup!

Technology

It is of vital importance for mines to have access to a stable supply of energy. Disruptions can hinder profits or even lead to dangerous situations. The remote nature of mining operations poses an additional challenge because connection to the grid is not always that simple. Iberdrola’s tailored energy solutions provide clear benefits to any mining operation.

Mexico

Mexico’s Mining Chamber (CAMIMEX) released the 2020 edition of its yearly report, emphasizing the mining industry’s commitment to the environment, society and communities. 

Newmont announced that all outstanding disputes between the company and the Cedros community have been resolved. The latter has been involved in a series of blockades to the company’s Peñasquito mine in Zacatecas. 

Vizsla Resources reported a third new discovery with its first step-out drill results along the Napoleon Vein Corridor at the Panuco silver-gold project in Sinaloa.

Metals

Gold backed away from a record high of US$2,000/oz. Silver turned shy after scratching seven-year highs of almost US$30/oz. Peter Krauth from Kitco says that is no cause for concern, however. “There are several fundamental drivers that will help keep gold and silver pushing higher,” he wrote.

The International Lead and Zinc Study Group released preliminary data for world lead and zinc supply and demand during 1H20.