The federal government reported that the state-owned company LitioMx will explore lithium deposits in six potential locations. However, lithium production is not expected to happen until 2028, said Pablo Taddei, CEO, LitioMx. In other news, precious metals producer Guanajuato Silver reported a typo in its Preliminary Economic Assessment (PEA) for the el Cubo project in Guanajuato.
LitioMX to Explore Lithium Deposits in Six States
The Mexican government announced that LitioMX will explore lithium deposits in six states with an investment of MX$36.8 million. The government said it is looking for target locations with sufficient lithium quantity and quality to be commercially feasible. The states to be explored by LitioMX are Sonora, Chihuahua, Nayarit, Puebla, Jalisco and Durango.
M3 Mexicana’s Jezrael Acuña sees technology as a critical ally when building successful mining projects, but always backed by an experienced team.
Newmont to Reconsider Investments Due to Peñasquito’s Strike
Newmont says that the strike at its Peñasquito mine in Zacatecas is affecting its operations, arguing it could reconsider its activities and investments. The company again urged miners to resume activities and continue the dialogue to reach a new agreement.
IMR Ensures Profitable Operations in Uncertain Times
Naresh Singh, Country Manager, IMR Metallurgical Resources, said that after 15 years of operating in Mexico, the company expanded its focus from iron ore mining to other minerals, like silver and gold. However, the company’s strategy to buy greenfield projects and transform them into small and medium-sized mines is still essential.
Guanajuato Silver Corrects PEA Information
Guanajuato Silver stated that its PEA presented in June contained incorrect information. Consequently, it has updated its analysis and resource estimates for its El Cubo complex in Mexico. The company noted that the incorrect information in the PEA was the number of contained gold ounces for the inferred resource at El Cubo, which should be 124,400oz and not 129,900oz. However, it emphasized that the typographical error was only found in the 2023 PEA tables, stressing that it did not impact any other metrics or analysis presented in the 2023 PEA.
Initiative Opens Path to More Women in Mining
Ana Muñoz, Director, RAMA Mantenimiento Industrial Total, explains how different global studies stress the importance of the inclusion of women in the world’s economy. She mentions the need to include women in the mining sector to achieve the UN SDGs. Muñoz highlighted the importance of “Sello WIM," a pioneering initiative recognizing mining companies' efforts to promote gender equality. By self-diagnosing and implementing actions in nine key areas, this program aims to foster a more inclusive industry, empowering women in mining.
Torex Gold Reports 2Q23 Production in Line With Annual Guidance
Torex Gold Resources reported the production of 107,507oz of gold in the second quarter of the year, in line with its estimated annual guidance. During 2Q23, the company sold 105,74oz of gold, 12.72% less than the 123,180oz it sold during 2Q22.