Endeavour Silver’s Terronera Project Nears Completion

Endeavour Silver has provided an update on the construction progress of its Terronera Project in Jalisco, with the company confirming that the project remains on track for full commissioning in early 2025.

"Endeavour Silver’s Terronera Project is rapidly approaching completion. Dry commissioning on the Upper Platform is advancing smoothly, and we are addressing the final installations and punch list items. Our team is now focused on the Lower Platform, where structural steel installation for the tailing filters is progressing well. We remain committed to adhering to our construction schedule to ensure Terronera is fully commissioned by early 2Q25," said Don Gray, COO, Endeavour Silver.

As of Dec. 31, 2024, the project was 89.4% complete, with capital expenditures totaling approximately US$302 million. In 4Q24, 1,694m of underground development were completed, bringing the cumulative total to 7,239m. 

Most of the construction on the Upper Plant Platform has been completed. Commissioning has been successfully finalized, and the area has officially been transferred to operations, with 6,000t of ore already processed. Commissioning of the grinding circuit is underway, including testing of the SAG and ball mills to ensure peak performance. The installation of flotation equipment is also nearing completion, with only the final installation of pressure relief valves, hoses, and piping remaining to be done.

The Lower Platform is currently 42% complete, with the TSF main embankment having reached an elevation of 1,185m, positioning the facility to begin receiving filtered tailings. The Laboratory Building has been fully completed and successfully handed over to operations. The Plant Maintenance Building is 80% finished, with its completion anticipated by mid-1Q25. As of the end of 4Q24, the project workforce includes 297 employees and 821 contract workers, contributing to the ongoing progress and momentum of the project.

Endeavour Silver has updated the estimated initial capital cost for the Terronera Project to US$332 million. This revised estimate reflects increases in mining costs to US$16 million, mineral processing plant expenses of US$13 million, site infrastructure costs of US$2.2 million, and project indirect costs of US$29 million. These increases are attributed to an extended project timeline, additional work to expedite construction, and an expanded workforce.

In 1Q25, the focus on the Upper Platform will be on completing the remaining installations, finalizing the punch list, and advancing the commissioning process. The TSF main embankment is also expected to reach its final elevation of 1,198m, with the installation of tailing and concentrate filters, along with final piping and electrical work. The installation of the tailing filter presses is also anticipated to be completed by early 2Q25.