The cut-back should help the miner lower all-in sustaining costs of production and generate free cash flow.
Mexico Mining News
Despite recent market volatility and exposure to low oil and commodity prices, the countries growth won't be affected, says the bank.
Mexico’s biggest copper producer is leveraging its relatively low debt and strong profit margins to invest more than $4.6 billion expanding some of its mines.
The strategy is to explore and build a mine in phases for the least amount of time and upfront investment dollars with subsequent investment based on continued success.
The property is located some 70 kilometres southeast of Goldcorp Inc.’s past-producing El Sauzal gold mine.
It mined 7.2 million ounces of silver last year, or about the same than in 2014, but gold output fell 4% to 60,000 ounces.
The firm is buying 60% of Road Machinery Co., S.A. de C.V, Mitsui's subsidiary in Mexico, which services Komatsu mining equipment.
China is currently the top investor in the country's sector, pumping $19.2 billion into several copper, gold and silver projects.
The miner said current market conditions are not supportive of a private placement on terms the company would find acceptable.
Rival gangs are preying on a small community at Goldcorp's Los Filos gold mine in Mexico's Guerrero state leaving at least 26 people dead since mid-2014.
Mexican authorities say about 450 tonnes of material was released.
The Sonora project holds 5.0 million tonnes of lithium carbonate equivalent, which is 337% higher that the previously reported 1.14 million tonnes.
Nyrstar is also considering to cut global zinc concentrate supply by up to a further 400,000 tonnes if the slump in commodity prices continues.
Most mining companies and financiers active in Mexico, Central and South America continue to explore, develop and operate projects despite current market conditions.
The former president says lack of immediate benefits for communities has driven mining opposition causing the country to lose billions worth of gold and copper projects.
Canarc plans to use the plant starting in 2016 for processing ore from Canarc’s recently acquired, fully permitted, El Compas Mine, located 20 kilometers away from the plant by road near the southern city limits of Zacatecas and for toll milling up to 100 tonnes per day of ore from local small miners.
"We are evaluating a soil and stream sediment survey campaign to begin exploring other areas where surface samples have returned favorable assay results for all three metals."
Coeur Mining reported rising production at its Mexican mine as a transition from open pit to underground mining advances.
Six people have been killed in anti-mining protests so far this year, including three at last week's clash between police and locals near Las Bambas copper mine.
8 million+ silver-equivalent ounces expected over next two years.
Despite current adverse conditions, advisory firm Behre Dolbear is recommending mining stakeholders to focus on markets that have been able to ride the wave relatively well so far.
Southern Silver has granted shareholder Electrum Group the right to earn an indirect 60% interest in the Cerro Las Minitas property in Durango, Mexico
The company also said it will spend between $850 and $900 to produce an ounce of gold this year, less than its previous forecast of between $875 and $950.
New data by International Copper Study Group predicts copper mine output will grow 5.7 million tonnes by 2018 as Peru, Zambia and Mexico ramp up production.