Lithium Exploitation in Sonora is Economically Feasible: LitioMx

Litio para México announced that the municipality Bacadehuachi in Sonora is an economically feasible area for lithium extraction. Moreover, countries are against seabed mining while the International Seabed Authority is looking to regulate and enable seabed mining by 2024. Big mining companies in Mexico keep reporting positive exploration and production results. 

Ready for more? Here is your weekly roundup!

Bacadehuachi Lithium Deposit Is Economically Feasible: LitioMx

State-owned lithium company, Litio para México (LitioMx) reported that lithium extraction in Bacadehuachi, Sonora is economically feasible. The announcement follows months of criticism from the mining sector, as many argue that extracting lithium from clay could be expensive for the government.

More Countries Turn Against Seabed Mining

While the UN-affiliated International Seabed Authority (ISA) seeks to implement regulations to regulate and enable seabed mining by 2024, several countries have called for these activities to be suspended.

Minera Autlán to Invest a Further US$700,000 In Social Programs

After it faced protests from local communities, Minera Autlán reached an agreement with the government of Hidalgo to invest in social programs to benefit inhabitants of surrounding communities. Following discussions with the local government, Minera Autlán agreed to invest US$715,600 in further sustainable development programs to benefit 48 communities in the region, which are located within a manganese mining environment.

Guanajuato Silver Discovers New Vein at El Cubo

The Canadian company Guanajuato Silver published the drill results of the Villalpando area at the El Cubo mine. It confirmed the discovery of a new transverse vein, which it christened San Luis. Although previous operators had identified the vein, it was heretofore not exploited nor explored, leaving the extent of the mineralization unknown.

Torex Gold Reported Significant Gold Production

Torex Gold announced that it produced 122,208oz of gold from its El Limon-Guajes mining complex, the company’s main asset in Guerrero, Mexico, in 3Q22. The company also reported important improvements in permitting, which will allow its Media Luna project to begin production.

Endeavour Silver Announces 3Q22 Financial Results

Endeavour Silver reported its financial and operating results for the 3Q22. The company produced 1,458,448oz of silver, 12 percent more compared to 3Q21, and 9,194 oz of gold, a 13 percent year-over-year decrease.

Fortuna Silver Reports Results for 3Q22

Fortuna Silver Mines reported its financial and operating results for 3Q22. The company produced 66,344oz of gold, an 11 percent year-over-year increase. Moreover, it registered a production of 1,837,506oz of silver, 7 percent more than in 3Q21.

Orla Mining Expects to End 2022 With Higher Production

Orla Mining reported its positive 3Q22 production and financial results from the Camino Rojo Oxide project, recently commissioned for commercial production. The company announced that the project's continuously improving production results have given it the confidence to increase its annual production guidance.

Argonaut Gold Delivers Stable 3Q22 Results

Canadian company Argonaut Gold reported its 3Q22 operating and financial results, highlighting that despite facing challenges at its Mexican asset La Colorada, production reached expectations. In addition, the company expects that the new infill drilling programs will lead to better results in the coming quarters.

McEwen Mining Reports Significant Cost Reductions

The Canada-based gold-silver producer McEwen Mining reported that despite high operating costs, it foresees higher profits. The company registered some improvements in its production costs at various assets during 3Q22.