After 120 days of strike, Newmont officially marked the end of the Peñasquito strike, which the National Union of Mine, Metal and Allied Workers of the Mexican Republic (SNTMMSSRM) started on Jun. 7, 2023. Furthermore, as a response to the Mining Law reform’s unconstitutionality, mining companies in Mexico have filed over 500 amparos.
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The US-based gold company Newmont officially announced the end of the 120-day-long strike at the Peñasquito mine in Zacatecas. As part of the resolution, the company has committed to providing an extra bonus to its employees for FY23. Being the largest gold mine in Mexico, restarting operations at Peñasquito will be of great significance for the country.
After facing an armed robbery last week, Pan American Silver has selected a date to resume operations at its La Colorada mine. The company stated that its production and cost projections for 2023 are not expected to be affected due to the suspension of operations.
The Mining Law reform, which came into effect on May 9, 2023, has stirred uncertainty within the mining sector. A notable point of contention raised by companies is the reduction of concessions. Industry insiders and opposition leaders alike have deemed the reform unconstitutional, prompting the initiation of legal challenges against it.
Nine years after the spill of acidulated copper sulfate into a tributary of the Sonora River, the Minister of Environment, Luisa Albores, has accused Grupo México, one of the most significant copper producers in Mexico and globally, of failing to meet the remediation commitments agreed upon in 2014.
Oroco Resource's Santo Tomas Copper Project Shows Positive Results in PEA and MRE
Canada-based Oroco Resource announced positive results from the Preliminary Economic Assessment (PEA) and updated Mineral Resource Estimate (MRE) for its Santo Tomas Copper Project in Sinaloa. The PEA outlines plans for a phased open-pit mining operation starting at 60,000t/d expanding to 120,000t/d in the second year over a 20-year Life of Mine (LOM).
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