Image credits: Ivan Bandura
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Weekly Roundups

Organizations Ask for More National Content in Mining

By Karin Dilge | Fri, 07/22/2022 - 09:26

The mining sector is struggling to keep up with the increasing demand for key resources like copper. Moreover, Mexican authorities assure the nationalization of lithium will be beneficial for both Mexico and the US. For its part, the Confederation of Mining Concession Holders and Entrepreneurs of Mexico (CONACEMM) stated the sector is the only one truly able to end poverty in Mexico, while it asks for more nationalistic industry.

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As Copper Demand Grows, Miners Will Become Unable to Satisfy It

Experts warn that because the gap between copper supply and demand is expected to grow significantly in the coming years, the global economy may be severely affected and efforts to achieve net-zero emissions hampered. Even if more incentive policies are put in place and new copper mines are created, it would not be enough to close the widening disparity.

Mexico Requires a Nationalistic Mining Industry: CONACEMM

The Confederation of Mining Concession Holders and Entrepreneurs of Mexico (CONACEMM) urged to create a more “nationalistic” mining industry to ensure a fair market environment for Mexican SMEs, as the organization stated that the sector is the only one that could lift Mexico out of poverty.

Lithium Nationalization Will Also Benefit the US, Says President

In a meeting between the Presidents from the US and Mexico, President Andrés Manuel López Obrador assured that Mexico's decision to nationalize lithium was a great achievement for both countries, since the US will be assured access to the white gold as a close trading partner. However, experts warned that the nationalization of lithium will bring more problems than opportunities for both countries.

Jalisco’s Congress Urges to Update the Mining Law

During a mining forum held at Jalisco’s Congress, local authorities and industry experts agreed on the need to create an appropriate legal framework that meets the industry’s needs, as well as modernizes the way mining is done in Mexico.

Cananea Miners Ask President López Obrador for Help

Leaders of the National Union of Mining, Metallurgical, Steel and Similar Workers (SNTMSSRM) section 65 asked President López Obrador for a meeting and his direct involvement after their meeting with Interior Minister Adán Augusto López two months ago was unfruitful.

Korea Resources’ Labor Dispute Intensifies

Workers at Korea Resources Corporation’s Boleo mine in Baja California continue to strike and block mining operations to protest low profit-sharing payments. The striking employees have said they are open to establish a dialogue and find the best way to optimize operations, but only after an agreement is reached to end the strike.

Acquisitions: The New Way for Companies to Become Producers

Although the Mexican government has not granted new concessions and enforces stricter permitting processes, more junior exploration companies are becoming producers through acquisitions of mining projects. While experts say it is unclear whether mining companies can become successful producers this way, it is the most attractive option in the current scenario.

Torex Gold Achieves Ambitious Safety and Production Milestones

Torex Gold Resources reported strong production in 2Q22, noting that results were better than expected due to higher grades from the El Limon Guajes (ELG) open pits and underground operations. Additionally, the company announced that it achieved a milestone regarding worker safety, demonstrating its commitment to creating a safe operating culture.

Orla Mining’s Camino Rojo Reaches Remarkable Production Levels

Orla Mining reported its positive 2Q22 gold production from the Camino Rojo Oxide project, recently commissioned for commercial production. Orla highlighted that it remains confident of reaching its 2022 gold production guidance and announced the next milestones that will strengthen the company and its projects.

Newmont Reaches a Profit Sharing Agreement

US-based mining company Newmont announced it has reached an agreement on profit sharing with the National Union of Mining, Metallurgical, Iron, Steel and Similar Workers of the Mexican Republic (SNTMMSSRM) at its Peñasquito unit in Mazapil, Zacatecas.

 

Photo by:   Ivan Bandura
Karin Dilge Karin Dilge Journalist and Industry Analyst