Insecurity, Safety: Challenges Mining Sector Continues to Face

Among the key challenges for the mining industry in 2023 is insecurity. Mining companies will continue to worry about Mexican cartels moving from the drug trafficking business to other activities like extorsion and thefts which may affect the integrity and security of their supply chain. In addition, the mining sector continues to be one of the most dangerous industries for workers, adding to the challenges. Nonetheless, it continues to increase its employment rates. 

Insecurity to Remain an Issue for the Mining Industry in 2023 

Despite the federal government’s efforts to combat insecurity, the mining sector has not perceived a reduction in crime rates. Some industry insiders believe that insecurity will remain an issue in 2023, just like it has been throughout the administration of President López Obrador and his predecessors.

Jobs in the Mexican Mining Industry Rose by 22 Percent

Despite lower global metal prices and missed foreign direct investment opportunities, Mexico’s mining industry created 22 percent more jobs during November 2022. According to the National Institute of Statistics and Geography (INEGI), the electric and extractive industries employed 479,145 workers in November 2022. The number represents 86,953 more jobs than the 392,192 registered during the same month in 2021.

AHMSA’s Mining Branch Declares Bankruptcy 

The Mexico-based steel producer Altos Hornos de México (AHMSA) announced that its mining branch, Minera del Norte, is now under legal protection after it went bankrupt. The company said that by declaring bankruptcy, it will be able to suspend payment obligations.

SEMARNAT Challenges Minera Cuzcatlán’s EIA Expansion After Typo

Fortuna Silver Mines announced that its Mexican subsidiary Compañía Minera Cuzcatlán received a resolution from the Ministry of Environment and Natural Resources (SEMARNAT) on its environmental impact assessment (EIA), noting that the ministry is re-evaluating the 12-year extension granted to its San José Mine in Oaxaca after a court rectified a suggested SEMARNAT typo that changed the extension to two years.

Long-Awaited Milestone Reached at Juanicipio Project

Fresnillo and MAG Silver announced that the Juanicipio Project's power distribution and control systems had successfully passed their final tests. According to the companies, Juanicipio has been connected to the national power grid and the complete system has been powered up.

Vizsla Silver Completes Strategic Investment in Prismo Metals

The Canadian mining company Vizla Silver announced it completed its strategic investment in Prismo Metals. Vizsla Silver acquired a right of first refusal to purchase the Palos Verdes project from Prismo Metals and 4 million units of Prismo for the aggregate consideration of US$2 million.

Altaley Mining Reports Pre-Production Result at Tahuehueto

Canada-based precious metal and base mineral producer Altaley Mining updated its pre-production results during mill commissioning at its Tahuehueto gold project in Durango. The company said that the project's recoveries and concentrate grades over the past three months continue to set new records.

Sierra Madre Acquires La Guitarra Silver Property

Sierra Madre Gold and Silver provided an update on its acquisition agreement with First Majestic Silver for the La Guitarra silver-gold mine in Temascaltepec, the State of Mexico. With the new agreement, the La Guitarra Project will be added to the company’s portfolio, which currently consists of the La Tigra and Tepic projects.