Mexico’s Lithium Industry Advances
After Tesla announced its multibillion-dollar investment in Mexico, the lithium industry celebrated the milestone in developing a strong and attractive lithium value chain. Moreover, the lithium company Advance Lithium, which offers an innovative method to extract the mineral, entered discussions with LitioMx for a joint venture.
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Mining Stocks Deliver Positive Results
Mining companies listed in the Mexican Stock Exchange (BMV) have been performing well, registering earnings of over MX$33.1 billion (US$1.8 billion). The revaluation of companies’ stock has benefited from a positive outlook after China reported solid economic data, which impacted metal prices.
Mexico's Lithium Industry Celebrates Tesla Investment
Global electric car manufacturer Tesla chose Nuevo Leon to build its new factory. With the new investment, Mexico is moving closer to its goal of developing a strong and attractive lithium value chain.
Lithium Exploration Grows in Puebla
Puebla ranked first among the 17 states carrying out lithium exploration, with 307 samplings in 17 municipalities, three times more than those performed in Sonora, the entity with the most advanced private project in Mexico, according to the Mexican Geological Survey (SGM).
Advance Lithium Enters Discussions With LitioMx for Joint Venture
Advance Lithium Corp. announced that it is in talks with the state lithium company, LitioMx, to create a joint venture. The objectives of both companies are aligned as both countries are seeking for Mexico to become a lithium mining country as fast as possible.
Chihuahua Heads Mexican Delegation at Mining Convention
The government of Chihuahua reported it is spearheading the Mexican delegation at a key mining convention in Toronto, Canada. The delegation went to promote Mexico as a safe and advantageous mining jurisdiction. Chihuahua’s administration expects to continue its successful investment attraction program as it did in previous years.
Fresnillo Reports Silver and Gold Equivalent Production for 2022
Fresnillo produced 53.7 million oz of silver equivalent in 2022, in line with its production guideline. Production was slightly above the complete platform of 2021, which received the support of Juancipio and higher volumes of mineral processing in Fresnillo. This compensated for the low ore grade in San Julián.
Newmont Increases its Mineral Reserves
Newmont reported that it significantly increased its mineral reserves in 2022. In addition, the company noted that its metals diversification strategy will enable production for the next 10 years.
Vizsla Silver Announced High-Grade Silver Continuity at Copala
The Canadian mining company Vizsla Silver announced the drilling results from 14 infill holes that targeted the Copala resource area at its 100%-owned flagship Panuco silver-gold project. The reports correspond to infill drilling in the southeast-central portion of the Copala structure, demonstrating high-grade precious metals continuity within the Copala resource wireframe.
Endeavour Silver Maintained Earnings Despite Inflation in 2022
Mid-tier precious metals mining company Endeavour Silver reported its financial results for 2022, reaching strong earnings despite economic pressure caused by inflation and capital investments. The company said that cost control will be a key aspect to consider when developing its mining operations in 2023.
Prismo Metals Authorized to Start Drilling at Palos Verdes
Canada-based exploration company Prismo Metals announced it received the authorization to start drilling works at its Palos Verdes property in Sinaloa. The company said this will start a new phase in its operation at the Palos Verdes project, one of its two Mexican flagship projects.