Excellon to Stop Producing in Mexico in 2022?By Paloma Duran | Thu, 01/06/2022 - 14:35
Excellon Resources announced that the company is evaluating the economic viability of operating its Platosa project beyond 2H22 as in the last two years the company has faced the impact of dewatering rates, an increase in consumables prices and legislative changes. The company said it would provide an update on its decision as its mining plans for 2022 are being carried out, which include advanced exploration work and strategic alternatives to unlock the value of its main assets.
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Major mining projects are expected to begin production in 2022, after some were delayed due to lack of funding, permits and the COVID-19 pandemic. Additionally, other companies have announced their ambitious targets for 2022, which include drilling and construction work.
Bear Creek Mining Corporation will acquire the Mercedes gold-silver project from Equinox Gold in Sonora. Under the new agreement, Equinox Gold will become a major shareholder of Bear Creek and will continue to participate in the development of the Mercedes mine and other major projects like Corani in Peru.
Despite facing a 10.48 percent increase in costs, Met Mex de Peñoles performed well in 2021. The company was able to continue finding lead and zinc concentrates, refining precious metals and non-ferrous metals, in addition to manufacturing salts, oxides and acid sulfides, among others. In addition, it continued to export its products to important countries, such as the US, UK, Japan and China.
Guanajuato Silver announced that it has agreed to purchase 4,000 tons of silver and gold from a mining operation in Guanajuato, which will be processed at its El Cubo plant. The company said the new agreement shows its ability to create additional mining businesses and generate a revenue stream as it seeks to have its mill complex at 100 percent capacity.
The government announced that SEMARNAT is working on an initiative to have better tailings dam management frameworks for mining companies operating in Mexico. Once the proposal has been drafted and approved, a dialogue will be held with concessionaires to start the program.