Stolen Peñasquito Containers Found Empty in Durango

Authorities have recovered the containers stolen on Oct.31, 2024 from Newmont's Peñasquito mine. However, the mineral concentrate that was inside the containers remains missing. In other news, the North American mining industry shows signs of stability, with the United States and Mexico signaling openness to mining and private sector collaboration. While the United States focuses on reshoring mineral supply chains, Mexico’s new administration offers optimism despite ongoing regulatory challenges, experts say. 

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Authorities Recover Empty Peñasquito Containers in Durango

The nine containers stolen from Newmont’s Peñasquito mine were found in Cuencame, Durango. While authorities recovered the containers, the mineral concentrate and those responsible for the theft remain unaccounted for.

Mine Collapses in Badiraguato, Sinaloa

The National Coordination of Civil Protection (CNPC), part of the Ministry of Security and Citizen Protection (SSPC), confirmed the recovery of two workers' bodies following a mine collapse in Badiraguato, Sinaloa. 

Deep-Sea Mining Threatens Billions in Annual Export Revenues

Deep-sea mining poses a risk to terrestrial mining, potentially jeopardizing over US$560 billion in annual export revenues, according to Planet Tracker’s latest report. The analysis highlights the minimal financial returns from seabed mining and calls on governments and investors to prioritize environmental preservation and enhance land-based mining practices.

Orla Mining Produces 43,788oz of Gold at Camino Rojo

Canada-based mining company Orla Mining released its results for 3Q24, reporting a production of 43,788oz of gold. The company highlighted that positive performance during the quarter was mainly attributed to the continuous outperformance of its Camino Rojo mine in Zacatecas. 

EPO Deposit Enhances Value of Torex’s Morelos Complex

Torex Gold has updated the life-of-mine plan for its Morelos Complex, incorporating its EPO underground deposit following the completion of an internal pre-feasibility study. The integration of the EPO deposit is expected to establish a production profile of at least 450,000oz/y AuEq through 2030. 

Silver Supply to Ease Global Deficit in 2024

The global silver deficit is anticipated to decrease by 4%, reaching 182Moz in 2024, with a 2% increase in total supply, offsetting a 1% rise in demand, according to the Silver Institute. The metal is set to experience its fourth consecutive year of a structural market deficit.

New US, Mexico Leadership Signals a Promising Future for Mining

Experts consider the outlook for North America's mining industry to be positive, with the United States and Mexico signaling support for mining and private sector engagement. However, they caution that significant challenges, including regulatory hurdles and supply chain vulnerabilities, may hinder growth in both countries.