Presidential campaigns are well on their way in Mexico and AMLO accused leaders in Grupo Bal of orchestrating a plan to prevent him from winning. On a more international note, Tesla, announced its intention to reduce the amount of cobalt required in their batteries by increasing their nickel content. And 10 miners were rescued after an earthquake trapped them in an underground mine in South Africa.
This week Mexico Mining Review showed a sneak peak of its interview with Trevor Turnbull, Director of Gold and Precious Metals Global Equity Research at Scotia Capital about the bank’s expectations for the performance of metal prices and the investment environment in the global mining industry.
Ready to dig deeper? Here’s this week’s roundup!
The Mexican mining industry is expected to have one of the fastest recoveries in Latin America thanks to its strong price performance in key commodities such as gold, silver, copper and zinc.
Minera Alamos is on track to begin the first phase of its drilling program in Verdes-Santana gold project in Mexico next month. The company plans to drill a total of 20 holes over a distance of 3,000m.
Water is becoming an increasingly scarce resource in Mexico and the mining industry is responding by incorporating unique solutions.
Endeavour Silver reported an 11 percent rise in revenues in 1Q18 and is expecting to start commercial production at El Cubo by the end of the year.
The World Gold Council reported a drop in gold demand as investors’ adopted a “wait and see” approach thanks to geopolitical volatility. In 1Q18, the Council found a decline of 7 percent year-on-year to 974 tons.
Glencore, one of the biggest zinc producers in the world, announced a 7 percent decrease in production year-on-year to 242,700 tons in 1Q18.
On Friday, 10 out of 13 miners that were trapped in an underground South African gold mine thanks to an earthquake were finally rescued. Unfortunately, four of these survivors later died from injuries.
The US electric car maker, Tesla, stated that it is set to reduce the amount of cobalt its batteries require to “almost nothing” by increasing the nickel content. This decision was driven by the fact that cobalt prices have been on the rise due to the anticipated demand of the electric car sector and the lack of supply in the market.