Mexico’s Project Pipeline AdvancesFri, 03/13/2020 - 11:10
The Week in Mining highlights developments in Mexico’s mining industry, where the M&A market remains busy and promising projects in the pipeline are obtaining funding. Also, the COVID-19 pandemic has sent gold prices slightly up and falling oil prices may result in more attractive energy prices for miners.
Gold rose on Thursday following worries about the economic impact of COVID-19 as the US banned flights coming from Europe.However, analysts say the gold price is entering defensive territory and could challenge the key support at US$1,600.
The silverlining of financial turmoil crushing industrial-metals equities is potentially lower energy prices, which make up around 25 percent of mining average operating costs.
As part of its social and environmental commitment, Almaden Minerals, in charge of the Ixtaca Project, inaugurated a water reservoir in Zacatepec, Puebla.
Equinox Gold and Leagold Mining have combined their businesses, creating one of the world’s top gold producing companies operating entirely in the Americas.
Mexican mineral exploration company Magna Gold has announced that it has entered a definitive purchase agreement with Timmins GoldCorp Mexico, a subsidiary of Alio Gold, to acquire the San Francisco mine in Sonora.
SilverCrest Metals announced an agreement with a syndicate led by National Bank Financial, Eight Capital and Scotia Capital, whereby the syndicate will buy 9.1 millon common shares for a net income of CAD$75 millon (US$53.8 million).