IMR Ensures Profitable Operations in Uncertain Times

Q: How has IMR’s commitment to choosing greenfield projects and turning them into highly profitable operations advanced in Mexico? 
A: We have been operating in Mexico for about 15 years. At the beginning, we focused on iron ore mining. However, that strategy was changed and, now we are working on silver and gold mining. Our original idea was to buy greenfield projects and develop them into small and medium-sized mines. Aligned to that, we operated and closed two gold and silver projects, Orofino and La Perla. We are now building a third medium-sized mine, El Creston, which is going to be the new Zinc, Lead and Silver mine in Sonora.

Q: In 2021, IMR told MBN it planned to acquire a small-medium-sized polymetallic project in North Central Mexico. Has the company found a good prospect? 
A: No, we did not find any projects fit for IMR, however, we made discovery of El Creston, which has 5.2 million tons of inferred mineral resources of 4.1 % ZnEq.

Q: What are the main challenges of running mining projects in Mexico?
A: Mexico has the resources and culture to be a key mining destination. However, many challenges have arisen recently, especially due to changes in the Mining Law, which have diminished the country's mining attractiveness and investment. Among the changes are those related to environmental permits. We submitted the documents for an environmental impact assessment (MIA) 18 months ago. However, we have not received any update, so far. If we do not get it, we will not be able to start up the mine and we will have to look for other legal means to get it. Another issue we face is water concessions since water is scarce in Sonora. 

Q: What can companies do to improve the communication channels between the mining industry and the public sector? 
A: The best way to address these issues is to establish more alliances with the main mining associations, such as CAMIMEX and AIMMGM. They have requested a discussion with lawmakers on these new changes, making sure that the voice of the sector is also heard. Unfortunately, now, there was no response from government. However, we need to stay strong to improve the current situation.

Q: How will the electrification of other industries affect the company?
A: Electrification is mostly affecting companies that produce minerals for batteries, such as lithium and copper, but not so much those that produce gold and silver. Demand and prices for gold and silver are increasing but not as much as lithium. In addition to electrification, gold and silver prices will continue to rise because they are considered safe havens in times of recession, so we will continue to benefit from that. 

Q: What is IMR’s five-year plan?
A: Right now, we are going to focus on El Creston, which will start producing in two and a half years. It will be an underground mine with a production of between 1,000 - 1,500 ton per day. Later, we will focus on another polymetallic mine called Tarachi, which is currently in the exploration phase and planned to be operational in five years.


IMR is a mining company focused on exploring and developing mineral resources, primarily in Mexico. It specializes in transforming greenfield projects into profitable mining operations, while prioritizing sustainable practices. With an experienced team and a commitment to community collaboration, IMR aims to maximize the potential of mineral deposits.