Image credits: Omid Roshan
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News Article

Mining Boosts Mexico’s Development: Torex Gold

By Karin Dilge | Tue, 06/28/2022 - 17:40

Faysal Rodríguez Valenzuela, Vice President Mexico, Torex Gold said that mining activity generates benefits for those living in communities surrounding mining projects of companies like Media Luna.

Moreover, Rodríguez highlighted that surrounding mining projects, the quality of life surpasses that of the average of many other areas nearby.

“Mining operations are often the only alternative for development in places where no other industry can get to. Many mines are located in places that are difficult to access and by vocation become the most important ally, if not the only one, for most of the people who live in those remote areas,” Euridice González, Founder, WIM Mexico, told MBN. “The presence of mining companies often becomes the engine for development in the areas where mining is conducted. Therefore, it is necessary that this industry is integrated as a key player into the national geopolitical and economic development strategy,” she added.

Torex Gold is the third-largest gold producing company in Mexico. Its Media Luna project broke the record of 10 million hours without lost-time injury in a plant that employs 2,000 people, which is a collective achievement for the workers, said Rodríguez. Furthermore, he reported that the construction of a new tunnel will pass under the Balsas River, with 2,000m already completed. This site will receive an investment of US$100 million and is expected to be ready by October 2023.

The construction of the corridor will link the Media Luna deposit with the Limon-Guajes system. The tunnel will feature a conveyor belt to transport material to the processing plant.

Torex Gold said that with the Media Luna development, the company has entered a new stage regarding its operational capabilities, as its current mine life has now more than tripled. Torex explained that although it is a challenging project due to the distance from the company's current infrastructure and its metallurgical complexity, its development was approved because of Media Luna’s high potential.

What is more, Torex Gold achieved an excellent performance regarding its environmental, social and governance (ESG) areas in 2022, according to the company’s recently released 2020 Responsible Gold Mining Report. The report also outlined new goals and ambitious targets for 2021 that would see Torex become even greener.

In addition, the company continues the implementation of Community Development Agreements (CODECOPs) with 11 local communities, as it already invests US$4 million in community projects. Last year, the company had a total of 964 direct employees and 1,675 contactors. Ninety-nine percent of its operators were Mexican, and 60 percent of its operations employees are from Guerrero.

The data used in this article was sourced from:  
Mining Mexico, MBN
Photo by:   Omid Roshan
Karin Dilge Karin Dilge Journalist and Industry Analyst