Torex Gold announced it received SEMARNAT’s approval for an amendment to Media Luna Project’s environmental impact assessment (EIA), which will allow it to deposit its tailing into the mined-out Guajes open-pit. The company considers it a derisk milestone for the Media Luna Project and the company itself.
Previously, the company filtered and staked dried-out tailings. “(The switch) will coincide with the planned commissioning of the copper and iron sulfide flotation circuits, as well as concentrate filtering and handling facilities,” said Jody Kuzenko, President and CEO, Torex Gold.
On Oct. 4, 2023, MBN reported on Torex Gold’s intention to start copper production in 2024. According to Faysal Rodríguez, Vice President, Torex Gold, the company expects to produce 450,000oz and 500,000oz AuEq per year, of which 25% will be gold and 75% copper. Rodríguez noted that production will come from Media Luna and El Limon Guajes, contributing 75% and 25%, respectively.
On its March 2022 Technical Report, Torex Gold had previously noted that over half of the tailings produced over the lifetime of the Morelos Complex, consisting of the El Limon Guajes and Media Luna project and other related infrastructure, would be deposited within the Guajes open-pit, with the remainder deposited underground as cemented paste fill.
According to Kuzenko, works to prepare the open pit for tailing deposition will start shortly, but she did not disclose an exact date when these works could start. However, she said the company plans to start depositing the tailing by the end of 2024. “The EIA amendment marks another significant project de-risking milestone and further demonstrates the ongoing support of local communities and the endorsement of state and federal governments of both the social and environmental facets of the Morelos Complex,” Kuzenko concluded.
Torex Gold is one of the largest contributors to Guerrero’s economy, contributing over 3% of the state’s GDP. On Oct. 26, 2023, MBN reported Torex Gold’s 2022 Economic Impact Study’s highlights, which was conducted by Deloitte LLP. According to the Impact study, the company contributed US$960 million to the country's GDP, including US$600 million to Guerrero in 2022. Furthermore, Torex Gold has maintained 12,912 jobs annually in Mexico, which is equivalent to generating 25.8 jobs for every US$ 1 million that the company spends in the country.
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