Industrias Peñoles Hit by Cybercriminals

Industrias Peñoles reported unauthorized access to its systems. The company said it is working with an expert team to implement necessary precautions and to address the issue. In other news, Canada-based gold company Torex Gold reported 78% progress in its Media Luna project in Guerrero, the company expects commercial production to commence in 1Q25. 

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Industrias Peñoles Reports Cybersecurity Incident

Mexico-based mining company Peñoles reported a cybersecurity breach involving unauthorized access to some of its systems, including those of its subsidiary, Fresnillo. The company’s IT team is actively investigating the incident and implementing necessary precautions to address the issue. 

New ISA Leadership May Delay Deep-Sea Mining Operations

Leticia Carvalho has been elected as the new Secretary General of the International Seabed Authority (ISA). With her background as an environmental regulator in Brazil, Carvalho is anticipated to slow the momentum toward exploiting deep-sea ecosystems for retrieving metals used in EVs and  batteries.

Luis Medina Nominated CANCHAM Mining Commission President

CANCHAM nominated Luis Felipe Medina as the new President for the Commission on Mining. With a 29-year career in the mining industry, Medina brings a wealth of experience and expertise to his new role.

Alamos Gold Surpasses Production Guidance for 2Q24

Alamos Gold Inc. reported a record-setting performance for 2Q24, showcasing significant achievements in production, financial metrics, and operational growth. The company’s increased gold production surpassed its quarterly guidance, positioning it to meet its full-year cost and production guidance. 

Cyberattacks Against Major Mining Companies on the Rise

The digital transformation of the mining sector has led to a significant rise in cyberattacks, with incidents increasing by 15% in 1H24 compared to the same period in 2023. According to cybersecurity firm SILIKN, there were 1.5 million hacking attempts during this period, underscoring the urgent need for the industry to enhance its protection against these digital threats.

Lithium Industry Will Move Forward: Buenrostro

Raquel Buenrostro, Minister of Economy, has said the country will continue to advance its lithium projects despite the ongoing dispute with Ganfeng Lithium. She also reiterated the Mexican government's confidence in winning the legal battle against the mining company.

Torex Gold’s Media Luna Project 78% Complete

Torex Gold Resources provided an update on the progress of its Media Luna project as of June 30, 2024. The company notes the project is progressing according to schedule, with the first production of copper concentrate anticipated by the end of the year and commercial production expected in 1Q25.