As the tone of the conflict between the US and China escalates prior to the North American giant’s presidential elections, gold reached heights not seen since 2013. Silver followed suit, while copper fell beneath the critical US$3-a-pound mark.
Mexico’s industrial output rose by 1.1 percent, the highest month to month jump since January 2018. The government and the private sector joined efforts to guarantee the industry’s sustainable development. Also, Minera Alamos is ready to start construction as the impact statement for its Santana gold project was approved.
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Due to some of the same factors, a silver breakout seems to be coming, as the metal already hit a 13-month high of US$17.01 this week.
The country’s industrial output rose 1.1 percent in June, driven in part by 2.5 percent increase in mining, its highest monthly jump since January 2018.
The sector remains at the top of the government’s priorities, as President López Obrador called for dialogue with Sonora miners to ensure mining’s sustainable development.
Likewise, Camimex announced affiliated companies will invest MX$177.2 million in environmental programs in 2019, almost a 17 percent increase from the MX$151.5 million invested in 2018.
In this context, TSX-V-listed Minera Alamos announced that SEMARNAT had approved the environmental impact statement for the Santana gold project. It plans to initiate construction activities late this year with first gold production planned mid-2020.