Camino Rojo, Resolution of Mining Conflicts in The SpotlightBy Paloma Duran | Thu, 07/08/2021 - 17:50
Orla Mining announced it entered to a non-brokered propspectus financing, which will be used to further explore and develop its main assets in Mexico and Panama. Minera Camino Rojo announced that the construction of its Camino Rojo project is 50 percent complete. In addition, Americas Gold and Silver and the Mexican government announced the signing of an agreement to reopen the Cosalá Operations.
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Minera Camino Rojo provided an update on the construction of its Camino Rojo Oxide Project in Zacatecas, which is currently 50 percent complete. The company expects to complete its construction in early 2022. Meanwhile, the process plant and main facilities will be ready in 2021. Additionally, Camino Rojo is expected to produce its first doré bar in December, while a more consistent production will be achieved until the first months of 2022.
Orla Mining has entered to a non-brokered prospectus financing that consists in 9,085,263 common shares at a price of C$4.75 per share totaling gross income of US$35 million. The offer has been accepted by a large unidentified institutional investor, Pierre Lassonde, Agnico Eagle Mines Limited and Trinity Capital Partners Corporation. The company announced that the net proceeds will be used for the development of the Camino Rojo Gold Oxide Project and the Cerro Quema Gold Oxide Project, exploration activities, additional studies on the Camino Rojo Sulphide Project and for corporate purposes.
Fortuna Silver Mines and Roxgold Inc. have joined forces to create a global premier growth oriented intermediate gold and silver producer. The reasons behind the decision were to pursue new opportunities, combine two highly experience management teams, diversified and complement portfolio, among others. With the new agreement, Fortuna will be able to achieve a production of 450,000oz of gold a year, more than double of what it expected according to its 2021 guidance.
Reyna Silver has begun a 10,000-meter drill campaign at its Batopilas Project in Chihuahua. The drill program follows targets established by Reyna’s technical team during the Spring of 2021 exploration campaign, which discovered multiple extensions to the 30 known veins in the district, as well as two new veins with multiple high-grade silver and gold sample results of up to 42,302 g/t Ag and 21.4 g/t Au.
After months of negotiations, Americas Gold and Silver has reached an agreement with Mexico´s Ministries of Economy, Interior and Labor in an effort to reopen its Cosalá Operations, which had been closed for the past 17 months. Before resuming operations, the Ministry of Labor will carry out a joint inspection on July 8 to verify whether the company can restart operations safely and sustainably. Americas said that after the inspection, it will provide an update and schedule to resume operations at the mine and mill. The company highlighted that with the start of operations and high metal prices, it will be able to achieve a silver production of 2.5Moz per year.
President López Obrador has announced a new Comprehensive Care Plan for Cananea that seeks to provide social justice through the implementation of programs that will improve the quality of life of its residents and address the most pressing mining problems in Cananea, Sonora.
López Obrador stressed that the new plan seeks to deliver justice to the historic struggle of miners in Cananea by providing decent pensions, freedom of association and better access to health services. In addition, the plan seeks to combat employment discrimination by eliminating "black lists", where people and family members who demand better rights are crossed out so that they cannot obtain employment.
In early 2021, Reggiana Riduttori introduced its W Series catalog for the mining, marine and construction sectors. The synergy between compact planetary technology and high lifting performance is the main feature of this new series. The expanded range of sizes bring the planetary winch up to 12 and improves the gear ratios, increasing the flexibility of Reggiana’s products.
The winning features of the W Series are compactness and modularity, as well as the special composition and treatment of the oil seals that provide greater protection against external agents, ensuring easy maintenance. Planetary winch drives offer a wide range of applications, from small truck-mounted cranes to large ship winches with hydraulic or electric motors, offering the same quality of performance and durability.