Mining in Mexico seems to be unaffected by the upcoming change in administration as the positives abound. M&As and expansion projects pick up speed as exploration activity also begins to gather pace after a prolonged slump. A new Director General of Mines was announced and Grupo México, First Mining Gold and Telson Resources all has positive announcements to make this week.
Olympus NDT is a specialist manufacturer of portable geochemical analyzers for the global exploration and mining industry. It has in-house expertise in using technology for geological field scenarios, with analyzers engineered to be rugged and reliable to keep geologists up and running in the field. Mexico Mining Review interviewed Mexico Managing Director Patricia Nakagawa to get her take on the current state of the market.
Ready to dig in? Keep reading!
New Director General of Mines
Laura Díaz, Partner at DBR Abogados, appointed new Director General of Mines for the Mexican federal government, replacing Claudia Ibarra.
Mining in Mexico Picks up Speed
Grupo México cinches 10th position in Latin America in Forbes’ ranking of the 2,000 biggest companies in the world. Brazilian mining company Vale was ranked 3rd in Latin America.
First Mining Gold ended the week on a high with a 11.5 percent jump in share prices to CA$0.29 during mid-day trading on Friday.
Telson hires world mining leader Glencore to carry out leach testing at Campo Morado in Guerrero. CEO Ralph Shearing says the company is on track to produce CA$36 million in free cash flow when Campo Morado and Tahuehueto in Durango are operating at full capacity.
Discoveries, Expansions and Acquisitions
Pan American Silver branches out its Latin America portfolio with a new acquisition of Tahoe Resources and its San Rafael mine in Guatemala. Under the agreement, Pan American will own around 68 percent of Tahoe shares.
Santana property in Sonora continues to reap results as Minera Alamos defines significant exposure surrounding new Divisadero porphyry discovery hole. The company intersected 95.7m of 1.47g/t gold equivalent.
Silver Spruce Resources Signs Definitive Agreement to Transfer Kay Mine in Arizona to Croesus Gold, a private company that aims to complete an IPO on the TSX. Silver Spruce also owns the Pino de Plata silver-lead-zinc project in Chihuahua.
Golden Minerals acquires Navegantes property in Chihuahua, consisting of six concessions with sampling returning high-grade silver values from silver-base metal veins.
Golden Reign completed its long-awaited acquisition of Marlin Gold. The new company will be called Mako Mining and will trade on the TSX under the ticker MKO.
Don’t miss out on your chance to rub shoulders with the industry’s leaders at the launch of the new edition, Mexico Mining Forum 2019, at the Sheraton Maria Isabel hotel in Mexico City this February 6! Register here!