The Federal Board of Conciliation and Arbitration (JFCA) declared that the Mexico’s National Union of Mining, Metallurgical, Steel and Similar Workers will be responsible for the payment of the 226 workers of the Cananea mine, all of whom were beneficiaries of a trust created in 2005. Consequently, Napoleón Gómez Urrutia, General Secretary of the Union, was instructed to pay US$54 million plus interest to these workers. María Eugenia Navarrete Rodríguez, President of JFCA, highlighted that the neither Mexico’s mining industry nor Grupo México, Minera Cananea or Scotiabank are responsible for this payment or for claims made by the union.
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Mining company Minera Cuzcatlán received a message from SEMARNAT, in which the environmental body explains that it made a mistake in its Environmental Impact Authorization (EIA). As a result, the company’s permit has been granted for two years instead of the 12 years originally agreed upon. Minera Cuzcatlán said it is working to resolve this matter and reconfirm its previously granted extension.
President López Obrador has proposed Vulcan Materials to withdraw a lawsuit against the Mexican government in exchange for resources to convert its limestone mine into a tourist attraction. The company filed the lawsuit after it was no longer allowed to continue its mining operations. López Obrador said that if an agreement is not reached in the short term, the government will ask the UN for help.
MAG Silver provided an update on its Juanicipio project and its production volume as part of its 4Q21 report, considered the most significant of the year. The company said that Fresnillo is still working with authorities so the Juanicipio plant begins operations in 2Q22.
In 2021, Grupo México reached record revenues largely due to its mining operations and higher copper market prices. The company said that it will significantly increase its investment to further develop projects, since the outlook for 2022 remains optimistic.
Alamos Gold and its subsidiary Esperanza Silver announced they will invest US$500 million over the next 10 years in their Morelos-based Esperanza project. Esperanza Silver said it is currently carrying out technical and environmental impact studies so that it can request environmental permits to advance the project. The company highlighted that unlike other projects, the Esperanza project will promote sustainable mining and regional economic development from the start.