San Francisco Mine Resumes Operations After Fatal Accident

Magna Gold announced that after several inspections at its San Francisco mine in Sonora, the suspension of the crushing and laboratory areas has been lifted. The suspension stemmed from a collapse, where three employees lost their lives. Magna Gold expressed its commitment to the families of the victims and employees, as well as to continue improving the safety of its operations.

The company assured that it will not spare any type of supervision and will provide better training to its employees. In addition, the company will strengthen programs such as the Health and Safety Self-Management Program and the Internal Civil Protection Program, which seeks the timely detection of risks.

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Almaden Minerals Sees Puebla Concessions Cancelled

Mexico’s Supreme Court (SCJN) cancelled two concessions granted to Almaden Minerals after the Ministry of Economy failed to carry a consultation with the Tecoltemi ejido, which possesses territory located within the concessioned land. This case sets a significant precedent and highlights the importance of a sound legal and social approach to gaining licenses for mining companies.

ICC Supports COFECE on Sonora Lithium’s Purchase

The International Chamber of Commerce in México (ICC México) has expressed its support to the Federal Commission for Economic Competition (COFECE) for authorizing the acquisition of the Sonora lithium deposit by a Chinese company, saying that it acted within its scope of competence. This comes in after President Andrés Manuel López Obrador heavily criticized the COFECE for this purchase.

US$2 Billion Investment Needed for Lithium Production

In order to set-up a new state company toward the exploitation of lithium would require an initial investment of at least US$2 billion, according to industry experts. What is more, it could take this company 15 years to start producing the mineral, as experts question the current commercial viability of lithium production under Mexico’s particular circumstances.

Union Leader to Pay US$54 million to Mine Workers

After María Eugenia Navarrete Rodríguez, President of JFCA, highlighted that Grupo México was not responsible for the US$54 million plus interest payment to 226 Cananea workers. Napoleón Gómez Urrutia, General Secretary of the Union, continues to deem the company responsible. In a statement Grupo México reported “the debate already passed the courts and has resolved that Gómez is to indemnify the mine workers. No press campaigns, lies, road blocks and twisted publications, like the ones Gómez Urrutia has been financing for months, can obstruct the fulfillment of the judicial resolutions that order him to pay the miners.”

Peñoles and Fresnillo Favor Green Energy

Leading companies Peñoles and its former subsidiary Fresnillo have said that renewable energy remains a key part of their strategy toward reducing their carbon footprint. Nevertheless, experts warn that the government’s proposal to reform the energy sector could hinder such sustainability efforts.