CAMIMEX: Mining Industry at Odds with GovernmentBy Antonio Trujillo | Thu, 09/09/2021 - 13:36
CAMIMEX revealed that several mining projects in Mexico are being postponed or getting delayed. In other news, lithium deposits in Sonora refresh the state’s mining industry.
Read this and more in the weekly roundup!
CAMIMEX, the Mexican Mining Chamber revealed that 754 out of 1,190 active mining projects funded by foreign capital in Mexico have been delayed or postponed. On the other hand, gold production in Mexico has seen a healthy recovery from both the pandemic and a five-year consecutive drop in production. CAMIMEX announced the results of their 2021 Annual Report stating that a total of 63 percent of the Mexican mining portfolio had been delayed; the chamber also announced that they were increasing their gold investments to a staggering US$5 billion.
The Mexican Geological Service has detected 14 lithium carbonate deposits in Sonora, additional to other sites already in operation by foreign companies. The 14 deposits found in the municipality of Bacadéhuachi, Sonora will be incorporated into those in operation by Chinese-Canadian company Bacanora Lithium. Mexico is preparing itself to exploit the benefits of this crucial metal, called “white gold,” vital in the 21st century.
The Mexican Mining Chamber (CAMIMEX) has warned that mining companies could face “major delays” as environmental and water permits are slowly being delivered by the government. Up to 60 percent of foreign-backed projects find themselves in this category. “This is definitely an issue,” said Fernando Alanís, President, “with SEMARNAT we have major delays.” He also said that the Mexican mining industry is clear and committed to achieving sustainable development.
Canada-based Almaden Minerals is halting drilling operations at the Ixtaca gold-silver project in Puebla due to an unusually high rise in COVID-19 cases among its workers. The Ixtaca gold-silver project in the Sierra Norte region of Puebla is the company’s foremost and “vanguard” projects. Almaden had just restarted operations at Ixtaca in March following a permit legal battle. The COVID-19 cases detected by the company’s protocols affected only local staff, “none of the drilling or core logging and processing teams have tested positive for the virus,” announced the company; while quarantine measures are being undertaken.
Australia pledged to keep digging up coal for export, saying global demand keeps rising. Researchers have shown that 89 percent of the world’s reserves of coal, and 95 percent of those in Australia, must remain where they are, and untouched, should the world´s population achieve current climate goals: increases less than 1.5 degrees Celsius above pre-industrial levels. Researchers assure future technology will make it possible to burn coal without threats to the environment.