Fresnillo, Mexican Gold Mining Make Strategic Moves

Fresnillo acquired Canadian gold miner Probe Gold, gaining 10Moz of gold reserves including 8Moz at Novador in Quebec. In addition, Mexican Gold Mining acquires full ownership of the 3,824ha Tatatila Project in Veracruz, strengthening its Las Minas portfolio. 

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Fresnillo Enters Canada With Probe Gold Acquisition

Mexican precious metals producer Fresnillo has acquired Canadian gold miner Probe Gold for US$556 million in cash, marking Fresnillo’s first entry into the Canadian market. The acquisition gives Fresnillo access to Probe’s 10Moz of gold reserves, including 8Moz at the Novador project in Quebec’s Val-d’Or Mining Camp. The transaction also includes the early-stage Detour Gold Quebec property, which Fresnillo believes could benefit from its technical expertise and exploration experience.

Tatatila Project Now Fully Owned by Mexican Gold Mining

Mexican Gold Mining has announced the acquisition of full ownership of certain mineral titles and associated rights covering 3,824.3585ha at the Tatatila Project in Veracruz, Mexico. This acquisition was completed under a mining concessions assignment agreement with its subsidiary Roca Verde Exploración and Chesapeake Gold, along with its subsidiaries Minerales El Prado, and Chesapeake México.

UN Climate Talks Spotlight Risks in Critical Mineral Supply Chains

At this year’s United Nations climate negotiations in Belém, Brazil, draft decision text for the first time explicitly addresses the challenges of critical mineral supply chains. While the language may still be revised, it signals rising concern over the sourcing of copper, cobalt, nickel, lithium, and other essential minerals.

Mexico Works Toward Safer Mines With ILO Convention Ratification

Mexico’s Senate committees on International Organizations, Foreign Affairs, and Mining have endorsed a proposal to ratify ILO Convention 176, an international framework to protect the health and safety of mine workers.

Newmont Cuts 16% of Workforce as Part of Newcrest Integration

Newmont has completed a restructuring that affected approximately 16% of its global workforce. This restructuring follows Newmont's acquisition of Australian mining company Newcrest Mining for US$17 billion in 2023, a deal that was expected to result in thousands of job losses.