Companies Report Strong Quarterly Results: The Week in Mining

Fortuna Mining reports that silver production at San Jose fell 42% in 4Q24, despite a record overall US$95.6 million 4Q24 cash flow. Endeavour Silver sold 4.6Moz of silver and 38,522oz of gold, contributing to its US$217.6 million revenue for 2024. In addition, Torex Gold met its 2024 gold production guidance with 452,523oz and reports that the Media Luna Project is 94% complete.

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Fortuna Mining Reports 42% Drop in Silver Production at San Jose

Fortuna Mining reports a record free cash flow of US$95.6 million during 4Q24, a 69% increase compared to the previous quarter, and US$202.9 million for the full year. Despite the progress, the company’s San Jose mine in Oaxaca reported a decrease in gold equivalent output with annual production below its production guidance.

Endeavour Silver Achieves US$217.6 Million Revenue in 2024

Canada-based precious metals company Endeavour Silver reported revenue of US$217.6 million in 2024 from its precious metals sales. The company produced over 7.6Moz of silver equivalent (AgEq), achieving the higher end of its production guidance for 2024. 

Torex Gold Meets 2024 Guidance, Media Luna Nears Completion

Torex Gold met its production guidance in 2024 and reported that its Media Luna Project reached 94% completion as of Dec. 31, 2024. In its final performance report for the year, the company said it remains on schedule to produce its first copper concentrate by the end of 1Q25.

AHMSA Inventory Finalized; Worker Protections Remain a Priority

AHMSA’s bankruptcy proceedings are progressing steadily, with the inventory of the steelmaker’s assets now completed. Trustee Víctor Aguilera confirms that the asset valuation process is moving forward and is expected to conclude alongside the inventory of the unit, which is still in progress.

Trump Says Ukraine Will Agree to US Natural Resources Deal

US President Donald Trump says he is confident that Ukrainian President Volodymyr Zelenskyy will ultimately agree to a natural resources deal with the United States, despite tensions stemming from their last meeting.

Gold Breaks Historic Records, Surpasses US$3,000

Gold prices broke a historic threshold on Friday, surpassing the US$3,000/oz mark for the first time in history. The rally is driven by heightened trade tensions, expectations of a US Federal Reserve (Fed) interest rate cut, and ongoing geopolitical instability, reinforcing gold’s status as a safe-haven asset.