Value of low-grade ore stockpile at the Peñasquito mine dropped, raising average costs by $64/oz. and negatively affecting adjusted earnings by $0.04/share.
Paramount Gold and Silver Corp. announced Oct. 21 that new drilling at its 100%-owned San Miguel Project in northern Mexico is likely expanding the bulk minable resource in the San Francisco deposit.
Figure is based on preliminary assessments of the damage caused to water, flora, fauna, and wildlife, as well as official information on water quality.
The news represents a relief for local authorities, which have seen several projects halted in recent months.
Output for this year is expected to be between 40,000 and 60,000 ounces of gold, reaching 7,000 tonnes a day by 2018.
Local press is reporting the miner has already abandoned the operation, which was in its last year of active mine life.
So far Grupo Mexico has been charged with more than $3 million in fines, and could face more.
Capex of $164m for 116,000oz gold, 239,000oz silver over a 8.2 year life for Ana Paul mine in Guerrero gold belt, Mexico.
Mostly shares-based deal will see Toronto-based Agnico Eagle acquire two highly prospective Mexican gold properties.
"Worst case scenario" for Mexican mine in final year of its life says Vancouver-based gold giant.
As of this year, the mine produced 37,000 ounces of gold.
Mexico's environmental prosecutor has imposed a new partial order of closure on Grupo Mexico’s Buenavista copper mine.
Around 15,000 of the total 55,000 licences in effect risk fines and even losing all privileges over the land.
Chinese backers are now behind one-third of all Peru’s new mining investments by value.
Authorities said Grupo Mexico lied about a spill of 40,000 cubic meters of acids and heavy metals that contaminated two rivers and a dam in the northern state of Sonora.
Who were the top earners in 2013?
Grupo Mexico has denied reports claiming it did not immediately report a massive acid spill from its Buenavista mine in the country's north.
Output at the company's mines reached a record 3,855,223 silver equiv. oz., up 6% from the previous quarter.
"My view is that it's all about real return."
While Canada and the U.S. look at Mount Polley disaster's aftermath, another big spill has contaminated rivers a bit further south.
The mine is expected to produce 120,000 tons of copper a year during its 20 years of mine life.
The news come only weeks after the government announced it would begin funding explorations projects to locate deposits of the coveted elements.
Production at its five operating silver mines in Mexico hit a record of almost 3.86 million equivalent ounces of silver for the second quarter ending June 30.
Currently China is the second largest producer of the red metal, with an annual output of about 1.6 million tonnes per year.
Thinking twice about moving south of the border.
Company seeks smaller deals in Latin America after biggest in its history.
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