Image credits: SilverCrest
/
Weekly Roundups

Golden Minerals' First Gold From Rodeo Mine

By Paloma Duran | Thu, 02/04/2021 - 16:58

Golden Minerals announced it has poured the first ounces of gold at its Durango mine. With the installation of a mill, the company expects to start processing 450t/d.

Read this and more in the weekly mining roundup!

Golden Minerals Pours First Gold at Rodeo Mine

The company announced it has poured the first 150 gold equivalent oz from its Rodeo mine in Durango. According to the Northern Miner, the mineralized material is processed at a Valerdine oxide plant, which is located 15km from the mine. The company began processing around 200t/d. However, this has decreased due to the installment of a regrind ball mill, which is expected to increase the grinding capacity for the silicified material. The company said the mill will be ready in March with a production of 450t/d.

Orla Mining Announces Its 2021 Program for Mexico and Panama

Orla Mining reviewed its exploration activities in 2020 and shared its exploration plans for 2021. The company announced it will continue to develop the Camino Rojo Oxide Project and make progress for its project pipeline and exploration in Mexico and Panama. The company announced that its 2021 regional program seeks to define drill targets for the discovery of new deposits near Camino Rojo. Orla Mining also plans to complete the 2,500m core drilling program on Fresnillo's property and integrate the company’s geological and resource models to Fresnillo’s data.

SilverCrest Releases Feasibility Study for Las Chispas Project

SilverCrest Metals has released its high-margin feasibility study for the Las Chipas silver-gold project in Sonora, where the company’s board has approved the construction of the 1,250t/d mine. The underground mine has a life of 8.5 years and is expected to produce 5.2Moz of silver and 56,000oz of gold per year. The company said that the feasibility study has provided several opportunities to continue growing and optimizing the project by expanding the mine and increasing Mineral Resources, especially those on BAVS, Granaditas, Babi Vista and Babicanora Norte veins and the El Muerto Zone. “The Las Chispas Feasibility Study defines a project with robust economics and potential for further improvements during operations. With our EPC Contract and underground development contracts in place, initial construction is already underway and is expected to ramp up through 1Q21,” said Pierre Beaudoin, COO of the SilverCrest.

Dispute Between Mexican Tax Authorities and First Majestic

Mexico’s government plans to obtain more than US$500 million from the Canadian miner First Majestic Silver for owed taxes that kept its silver prices low over the past decade, reports Reuters. Several audits from 2010 show that the company owes around US$534.36 million and as a result, Mexico’s Tax Administration Service (SAT) has demanded a first payment of US$267.18 million. Moreover, Mexican officials are trying to prosecute First Majestic’s local unit, Primero Empresa Minera, for tax fraud, even after a judge dropped charges on Thursday.

Bacanora, Ganfeng Reach New Agreement on Sonora Lithium Project

Bacanora Lithium announced that the company and its investor and partner Ganfeng Lithium have signed a joint venture agreement for investment in Sonora Lithium Ltd (SLL). The agreement includes the increasing of Ganfeng’s stake from 22.5 percent to 50 percent. The approval of the agreement by Chinese authorities and the payment of US$29.9 million are still required for Ganfeng to have 50 percent ownership of the project.

 

 

The data used in this article was sourced from:  
Reuters, MBN, North Miner Junior Mining Network, SilverCrest
Photo by:   SilverCrest
Paloma Duran Paloma Duran Journalist and Industry Analyst