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Weekly Roundups

Mining Companies Continue To Boast Positive Operation Results

By Karin Dilge | Thu, 08/18/2022 - 10:00

The recent collapse of the mine in Sabinas, Coahuila, following which 10 mine workers have been trapped for two weeks, will be investigated by the Attorney General’s Office (FGR). Moreover, companies Argonaut Gold and Pan American met their production goals and keep betting on their Mexican assets. Torex Gold and Newmont receive acknowledgment from the government for their positive impact on the surrounding communities.

Ready for more? Here is your weekly roundup!

Attorney General To Investigate Owner of Collapsed Coal Mine

The Attorney General’s Office (FGR) announced that it will investigate who it believes to be the owner of the coal mine located in Sabinas, Coahuila, which collapsed and trapped over 10 workers a week ago.

Government Changes Rescue Strategy for Collapsed Coal Mine

The government decided to change its strategy to save the 10 mining workers trapped in a collapsed coal mine in Coahuila after the water levels of the El Pinabete wells increased significantly over the weekend. In addition, the authorities do not rule out the possibility of receiving help from foreign rescuers.

Mexican Government Temporarily Suspends Mining Concessions

After the safety of several mining operations was questioned following the recent collapse of a coal mine in Coahuila, the government decided to temporarily suspend 10 mining concessions. In addition, the authorities are now investigating the General Directorate of Mines for irregularities such as failing to guarantee the safety of mining operations.

CFE Buys Most of Coahuila’s Coal

The Federal Commission of Energy (CFE) enjoys a close relationship with Coahuila, especially the Sabina region, which has recently been under the spotlight after a coal mine collapse trapping 15 workers 60m underground. The state-owned utility purchases most of the coal produced in the state.

Mexico, Canada Strengthen Strategic Trade Relationship

Yesterday, Mary Ng, Canada’s Minister of International Trade, Export Promotion, Small Business and Economic Development, as well as Francois-Philippe Champagne, Canada’s Minister of Innovation, Science and Industry, met with Tatiana Clouthier, the Mexican Minister of Economy to carry out the first High-Level Economic Dialogue between the countries.

Minister of Economy Acknowledges Torex Gold’s Social Efforts

Minister of Economy Tatiana Clouthier acknowledged the benefits that Torex Gold has brought to Guerrero through its Mexican subsidiary, Minera Media Luna. Clouthier said that the added value goes beyond the jobs the mining activity created and includes housing for workers, as well as a low environmental impact.

Pan American Keeps Betting on Its La Colorada Asset

Pan American Silver informed that its Mexican mine La Colorada, the largest mine of the Canadian company, produced 1.68Moz of silver during 2Q22, which represents a 52 percent increase in comparison to 2Q21.

Argonaut Gold on Track To Reach 2022 Goals

Argonaut Gold reported its 2Q22 financial and operating results, highlighting that despite lower ore extraction, it expects to achieve its 2022 production guidance. Additionally, the company plans to adjust its 2022 cost guidance, as inflation is driving up the prices of key resources.

Mexico’s Lithium State Company Gets a Name

After months of controversy, the Mexican government announced the name of its state-owned lithium company, which will be managed by the Ministry of Energy (SENER). The government compares the creation of the company with other key state companies like CFE.

Peñasquito Mine Receives Visit from State Governor

Newmont’s Peñasquito mine received a visit from the governor of Zacatecas, David Monreal Ávila, who called in on the mine to examine the working conditions of employees and the commitments that Peñasquito made with neighboring communities.

Sonoro Gold Shares Constructive Results From Sampling

The Canadian mining company Sonoro Gold shared its results from an underground sampling program carried out at its Cerro Caliche gold project in Sonora, Mexico. The program is part of the corporation’s plan to develop its proposed heap leach mining operation.

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Karin Dilge Karin Dilge Journalist and Industry Analyst