Gold Project in the Hands of Organized Crime

An organized crime organization has been running a gold project in Sinaloa for the past two years. This occurred after SEMARNAT denied permits to a private company.  In other news, recent changes in mining laws have brought into the debate the absence of frameworks for indigenous consultation. Experts warn that lack of regulation could endanger both communities and mining projects due to uncertainty.

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Criminal Group Takes Over Gold Mining Project

A criminal group has been operating a gold mining project for the past two years after SEMARNAT denied permits to a private company. The illegal operation, lacking compliance with environmental and social standards, has sparked concerns, local media reports.

Redefining the Landscape of Precious Metals Investment

Randy Smallwood, President and CEO, Wheaton Precious Metals, says the company's value proposition lies in its unique position as a precious metals streaming company, offering lower-risk access to sustainable precious metals production. With a strong growth trajectory, Wheaton expects to increase production by over 40% in the next five years, surpassing other streaming companies and major players in the gold mining sector.

Road Forward Includes Quadrupling Production, NYSE IPO

Robert Archer, President and CEO, Electrum Copper, shares the company's goals for 2024, which include quadrupling copper production, increasing gold output, and adding molybdenum production at its Candela mine in Coahuila. Additionally, Electrum Copper plans to conduct an initial public offering (IPO) on the NYSE, aiming to raise about US$10 million to expand operations. 

Driving Growth in an Uncertain Mining Economy 

Mexico's mining sector faces financing constraints amid global uncertainties, but growth opportunities persist. President Andrés Manuel López Obrador's plan to ban open-pit mining has caused investor hesitation. However, high resource prices and North American markets' interest in nearshoring supply chains offer potential, says Jim Norine, Vice President of Minerals and Metals, Ausenco. 

Missing Indigenous Consultation Rules May Hinder Mining: Experts

Recent changes in mining laws, such as the 2023 Mining Law reform, have raised concerns due to the absence of regulations concerning indigenous consultations. Legal experts suggest that missing regulation could pose future challenges for mining companies since without the approval of indigenous communities the future of any mining project is at risk.