Union Issues

Peñoles ganó 5.24% en BMV por reapertura de mina

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Industrias Peñoles, el principal productor de plata a nivel mundial, anunció la conclusión del paro de labores en la Minera Tizapa, ubicada en Zacazonapan, Estado de México, luego de 10 meses.

La empresa dijo que el Tribunal Laboral Federal de Asuntos Colectivos ordenó la reanudación de las labores y el pago de los salarios correspondientes a los días que duró la huelga, tras encontrar dos violaciones al contrato colectivo y rechazar otras siete que reclamaba el Sindicato Nacional de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares de la República Mexicana (SNTMMSRM).

Puede continuar leyendo la nota en la fuente: https://www.eleconomista.com.mx/mercados/penoles-gano-5-24-bmv-reapertura-mina-20250630-766052.html

Triunfaron Los Trabajadores contra el Sindicato Minero, No Hay Marcha Atrás: Carlos Pavón Campos

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Por: María del Pilar Martínez 05-05-2025

Remontándose a casi dos décadas, Carlos Pavón Campos, actual líder del Sindicato Minero “Frente”, y quien trabajó con Napoleón Gómez Urrutia, afirma que “está debidamente comprobado que el dinero de los 55 millones de dólares es de los trabajadores. Esa es una realidad”.

En entrevista tras conocer el laudo de la demanda que interpusieron trabajadores en contra del Sindicato Minero liderado por Napoleón Gómez Urrutia, Pavón Campos explicó “el dinero es de los trabajadores, tan es así que inclusive, el documento establece que a la gente que le pagaron, entre 60,000 y 80,000 pesos, si es que hubiera diferencia, esta tendrá que ser cubierta por el sindicato”.

Pavón Campos expuso que “lo curioso es que en todo el proceso desligan a Grupo México y al Banco Scotiabank que intervinieron en el fideicomiso. Están desligados totalmente y el cargo es totalmente para el sindicato; lo que es cierto es que también se acaba con el mito de que él era un perseguido por defender los derechos de los trabajadores”.

Tres huelgas que no son huelgas


El dirigente minero, quien tiene contratos con empresas como Peñoles, comentó que se avanza en uno de los juicios que por casi dos décadas ha estado en tribunales; pero aún están pendientes las tres famosas huelgas, que van a cumplir dieciocho años. “Las tres famosas huelgas. que ya no son huelgas”.

Puede continuar leyendo el artículo en la fuente: https://www.eleconomista.com.mx/empresas/triunfaron-trabajadores-sindicato-minero-hay-marcha-carlos-pavon-campos-20250505-757754.html

Mina de Peñoles en Edomex suspende operaciones por llamado a huelga

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La minera mexicana Industrias Peñoles reportó el viernes un paro de operaciones por tiempo indefinido en su unidad Tizapa, en el centro del país, por un emplazamiento a huelga sindical.

La instalación, en el Estado de México, fue objeto en los últimos meses del escrutinio de las autoridades, por una petición de Estados Unidos de que se revise una posible vulneración de derechos laborales, en el marco del tratado comercial de América del Norte, TMEC, lo que la compañía negó.

El llamado a huelga fue promovido por el Sindicato Nacional de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, titular del contrato colectivo de la mina desde el 18 de abril de 2024, dijo Industrias Peñoles en un comunicado enviado a la bolsa local.

Favor de continuar leyendo en la fuente: https://www.eleconomista.com.mx/empresas/Mina-de-Penoles-en-Edomexsuspende-operaciones-por-llamado-a-huelga-20240830-0071.html

The Mining and Exploration News in Mexico: Highlights on the Fourth Week of July 2024

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By Jorge Cirett                                             

During the 30th week of the year (July 22nd to July 28th, 2024), companies working in Mexico posted at least 24 press releases. Two companies informed on exploration advances on their properties and four companies provided operational/financial results for Q2 2024. Three companies closed financing tranches and one filed a preliminary base shelf prospectus. A company commenced test mining and processing, another completed construction of a mine while one more updated on the construction advances at its property. Two companies presented PEA’s on their advanced properties and one more provided a drilling results update. One company completed the acquisition of key claims, and another one entered into a small-scale mining agreement on its property. ON MEXICO ISSUES, ArcelorMittal steelworks strike in Michoacan ended after 55 days. Tax on revenue from mining companies fell in the country by 24.5% on Q1 2024. ON EXPLORATION, In Sonora, Minaurum Gold commenced a drilling program; Tocvan Ventures released results from drilling at Pilar. ON MINING, Gold Royalty, Mag Silver, Santacruz Mining and Grupo Mexico presented Q2 2024results. ON FINANCING, Southern Silver Exploration closed the first tranche of financing (C$2.09), Guanajuato Silver company filed a short base shelf prospectus to offer up to US$65 M, Aztec Silver closed its non-brokered private placement (C$2.57 M), Barksdale Resources closed the final tranche of its non-brokered private placement for a total of C$6.3 M. ON RESOURCES AND DEVELOPMENT, Sierra Madre Gold and Silver commenced test mining and processing at the Guitarra mine in Estado de Mexico. Gatos Silver provided drilling results from the Cerro Los Gatos mine and brownfields exploration in Chihuahua. Vizsla Silver presented a PEA on Panuco, in Sinaloa. Southern Silver Exploration released a PEA study on Cerro Las Minitas, Durango. Endeavour Silver provided a Q2 2024 construction update for Terronera, in Jalisco. Luca Mining announced the completion of the Tahuehueto mine in Durango.  ON DEALS AND CORPORATE ISSUES, Silver Viper Minerals announced the completion of the purchase of three mining concessions at its Virgina project in Sonora. Xali Gold signed a LOI granting rights for small scale mining on five of its claims at El Oro, Estado de Mexico. US Antimony, Solaris Resources and DYNR-Dyna Resources made board appointments. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • ArcelorMittal steelworks strike in Michoacán ends after 55 days. Nearly 3,000 workers resumed work at the company’s steel plant in Lázaro Cárdenas, Michoacán. The agreement reached mandates an 8% wage increase, grocery vouchers worth 17,000 pesos (US$949 dollars) and full compensation for lost wages. Additionally, an external audit of the 2022 and 2023 fiscal years will be conducted to ensure the accuracy of PTU payments.
  • Tax on revenue from mining companies fell in Mexico 24.54% on Q1 2024 year on year, more than five times the national average of 4.83%. During the period mining companies paid $13,416 M pesos or 1.87% of the total income tax received by the government.

ON EXPLORATION

  • Minaurum Gold Inc. commenced an 8,000 m drill program designed to establish an inferred mineral resource at its Alamos silver project in Sonora. Drilling will focus initially on three of the 19 vein zones that have already returned high-grade silver results: The Europa vein, the historic Promontorio vein zone, and the Promontorio Sur vein zone. “Minaurum has drilled 42,317 m in 106 core holes on 19 of the 26 vein zones discovered at the Alamos silver project from 2017 – 2023”. Highlighted previously released core length intercepts comprise 8.25 m @ 1,760 gpt Ag, 1.6% Cu, 1.5% Pb, 2.6% Zn; 3.50 m @ 404 gpt Ag, 0.54% Cu,  1.3% Pb, 1.8% Zn; 3.85 m @ 342 gpt Ag, 0.76% Cu, 1.0% Zn at the Europa vein zone, and 20.2 m @ 154 gpt Ag, 0.5% Cu, 2.3% Pb, 6.8% Zn; 3.8 m @ 415 gpt Ag, 2.68 gpt Au, 1.37% Cu, 6.2% Pb, 9.2% Zn; 7.6 m @ 266 gpt Ag, 0.27 gpt Au, 0.57% Cu, 1.6% Pb, 3.2% Zn at the Promontorio and Promontorio Sur vein zones.
  • Tocvan Ventures Corp. announced results from the 2024 reverse circulation (RC) 3,700 m drill program at its Pilar property in Sonora. To date, 3,268 m across 26 holes have been drilled from such program. Highlighted drill length intercepts from three holes comprise 15.25 m @ 0.26 gpt Au, 14 gpt Ag (including 7.63 m @ 0.45 gpt Au, 22 gpt Ag, 0.1% Zn); 1.53 m @ 0.63 gpt Au, 46 gpt Ag, 0.2% Pb, 0.2% Zn; 3.05 m @ 0.33 gpt Au, 5 gpt Ag; 3.05 m @ 0.18 gpt Au, 45 gpt Ag; 22.88 m @ 0.19 gpt Au, 1 gpt Ag, 0.2% Zn (including 1.53 m @ 0.49 gpt Au, 7 gpt Ag, 1.9% Zn and 1.53 m @ 0.62 gpt Au and 1.53 m @ 0.68 gpt Au, 2 gpt Ag). “The North Hill and Main Zone Trends now extend over 900-meters defined by drilling, while the 4-T Trend extends over 700- meters….”  

ON MINING

  • Gold Royalty Corp. announced second quarter 2024 revenue and total revenue, land agreement proceeds and interests of $2.2 M, of which a minor part comes from its Mexican operations (Coazamin, Zacatecas).
  • Mag Silver Corp. reported production from Juanicipio (56%/44% Fresnillo plc, Mag Silver) in Zacatecas. During the quarter 336.6 K tonnes were processed at the Juanicipio plant, averaging 1.2 gpt Au, 498 gpt Ag, 1.56% Pb, 2.99% Zn, to produce 9,259 Oz Au, 5.0 M Oz Ag, 9.9 M Lb Pb, 18.9 M Lb Zn. Also in the period commenced commercial production of pyrite concentrate, delivering incremental Ag and Au recovery.
  • Santacruz Silver Mining Ltd. reported Q2 production results, including figures from its operations in Mexico. At Zimapan, in Hidalgo, the company processed 209.7 K tonnes averaging 80 gpt Ag, 0.30% Cu, 0.73% Pb, 2.46% Zn, recovering 76% Ag, 45% Cu, 86% Pb, 80% Zn, to produce 409.3 K Oz Ag, 284 tonnes Cu, 1,312 tonnes Pb, 4,127 tonnes Zn (or 1.09 M Oz AgEq).
  • Grupo México SAB de CV. presented its Q2 2024 results. The company has operations in several countries and did not specify production by mining unit. During the period Grupo México produced 270,747 tonnes Cu, 8,201 Oz Au, 2.95 M Oz Ag, 7,655 tonnes Mo, 29,419 tonnes Zn, 615.8 K tonnes H2SO4, with a cash cost of US$1.03 per Lb Cu after by products.

ON FINANCING

  • Southern Silver Exploration Corp. closed the first tranche of its previously announced non-brokered private placement for gross proceeds of $2.09 M. “In connection with the Offering, the Company paid finders’ fees totalling $101,745.31 and issued an aggregate 457,029 non-transferable finder warrants, with each finder warrant exercisable to purchase one common share for a period of 3 years.”  (Cerro Las Minitas, Durango).
  • Guanajuato Silver Company Ltd. filed a preliminary short base shelf form prospectus in each of the provinces and territories of Canada. Upon issuance of a receipt for the final short form base shelf prospectus the company will be permitted to offer up US$65 M of common shares, debt securities, warrants, subscriptions receipts, share purchase warrants and units during the 25-month that the prospectus is effective (El Cubo, Valenciana, Guanajuato).
  • Aztec Minerals Corp. closed the previously announced non-brokered private placement for gross proceeds of C$2.57 M (Cervantes, Sonora).
  • Barksdale Resources Corp. closed the second and final tranche of its previously announced non-brokered private placement offering for gross proceeds of $4.1 M, which together with the proceeds from the first tranche add up to $6.3 M (San Javier, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Sierra Madre Gold and Silver Ltd. commenced test mining and processing at the Guitarra mine complex in Estado de Mexico. The flotation plant has processed 5.7 K tonnes of mineralized material from the Guitarra mine and is currently processing 259 tpd in the path to full commercial production of 500 tpd.
  • Gatos Silver Inc. provided an update on drilling at the South-East Deeps zone and the recently initiated regional exploration program at its Los Gatos property (70% owned) in Chihuahua. “Resource definition drilling in the SE Deeps zone of CLG intercepted additional mineralization along strike and down-plunge, continuing to extend the known mineralized zone.” Highlighted core length intercepts comprise 2.9 m @ 0.18 gpt Au, 214 gpt Ag, 0.25% Cu, 12.2% Pb, 19.0% Zn; 2.7 m @ 0.81 gpt Au, 81 gpt Ag, 0.15% Cu, 3.9% Pb, 9.9% Zn; 1.6 m @ 0.02 gpt Au, 181 gpt Ag, 0.42% Cu, 0.9% Pb, 2.0% Zn; 1.6 m @ 0.79 gpt Au, 108 gpt Ag, 0.44% Cu, 3.2% Pb, 5.6% Zn; 6.5 m @ 0.14 gpt Au, 43 gpt Ag, 0.28% Cu, 1.8% Pb, 4.5% Zn at SE Deeps and 0.6 m @ 3.11 gpt Au; 1.2 m @ 0.09 gpt Au, 0.02% Cu, 0.23% Mo, 0.3% Pb, 1.7% Zn; 1.9 m @ 2.59 gpt Au, 15 gpt Ag, 0.02% Cu, 0.8% Pb, 1.6% Zn at Portigueño and 8.9 m @ 0.17 gpt Au, 66 gpt Ag; 4.2 m @ 0.07 gpt Au, 51 gpt Ag, 0.14% Cu, 0.9% Pb, 5.6% Zn at San Luis.
  • Vizsla Silver Corp. released the results of the preliminary economic assessment (PEA) on its Panuco project in Sinaloa. The study envisions a 3,300 tpd production rate expanding to 4,000 tpd in year 4, with an initial mine life (LOM) of 10.6  years. The 5.3 M tonnes deposit averaging 316 gpt Ag, 1.97 gpt Au would produce 15.2 M Oz AgEq (9.3 M Oz Ag, 78 K Oz Au) per year at cash cost US$7.98 per Oz AgEq and a LOM AISC of US$9.40 per Oz AgEq. The initial cash expenditures are estimated at US$224 M with an After-tax NPV (5%) of US$1,137 M and 85.7% IRR at US$26 per Oz Ag and US$1,975 per Oz Au, and an After-tax payback period of 9 months. Two adjacent underground mines, Copala and Napoleon, with on-site treatment with a three-stage grinding circuit, a leach and Merril Crowe circuit to produce doré bars. “The mines will be contractor operated utilizing ramp-access and a combination of long-hole stoping and drift-and-fill mining methods.”
  • Endeavour Silver Corp. provided Q2 2024 construction progress update for its Terronera project in Jalisco. Concrete and structural steel work are nearing completion on the upper plant platform for areas including crushing, coarse-ore storage, grinding, flotation, and thickening, with overall mine development and surface construction reaching 64.5% advance. More than US$204 M have been spent to date of the total project commitment of US$260 M, with mine development totaling nearly 4,500 m. The project remains on track for commissioning in Q4 2024.
  • Luca Mining Corp. completed construction of its Tahuehueto mine in Durango. The mine was constructed within budget, has a nameplate 1,000 tpd processing capacity and has been on pre-production for several months. Commercial levels of 800 tpd or 25 K tonnes per month are expected to be achieved by the end of September. “Tahuehueto is a large property (121 square kilometres) that hosts an extensive epithermal gold vein system with less than 10% of the prospective ground explored so far….. Resource drilling from underground is expected to commence in the coming weeks.”
  • Southern Silver Exploration Corp. filed on SEDAR a preliminary economic assessment (PEA) 43-101 technical report on its Cerro Las Minitas project in Durango. Highlights from the study include after-tax NPV5% of US$501 M, an IRR of 21.2% with a 48-month payback on a large-scale underground mining operation with a 17-year mine life (LOM) with an anual average plant feed of 14.3 M Oz AgEq (inc. 5.8 M Oz Ag) and total sales of 194.3 M Oz AgEq at an AISC of $13.23 per Oz AgEq. The project envisages gross revenues totalling US$4.47 B, with Au and Ag representing 45% of revenue and zinc 35%. Updated PEA increases production by 5 M tonnes, production rate to 5,300 tpd, extends the LOM by 2.6 years and the total revenue by US$765 M. “The company plans to initiate a core drilling program of up to 6000m in 11 holes to test shallow targets along the north side of the Cerro between the North Felsite and Skarn Front deposits. Drilling will start in early September. The work is the first stage of a larger 25,000 metre exploration program on the property with the goal of adding an additional 4 million to 8 million tonnes of mineralization to the resource base.” 

ON DEALS AND CORPORATE ISSUES

  • Silver Viper Minerals Corp. announced the completion of the purchase of the three mineral claims covering 2,102 hectares at the La Virgina project in Sonora. The company made the last cash payment of US$200 K. “Silver Viper has completed a total of 141 drill holes at La Virginia for a combined 44,687 metres. Exploration drilling has paused awaiting the processing of the geophysical survey data along with the interpretation of mapping and sampling data.”
  • Xali Gold Corp. signed a legally binding letter of intent (LOI) with Rio Verde Resources on portions of five mining concessions at El Oro project in Estado de Mexico. Rio Verde has been granted the exclusive right to explore and extract minerals above the 2,400 m level in the historic workings, in exchange for a 3% net smelter return (NSR) royalty. Rio Verde has advised that their production will initially focus on the target identified by LuisMin-Hillsborough, in which they estimated a potential of 762 K Oz Au and 9.8 M Oz Ag (6.89 M tonnes @ 3.44 gpt Au, 44 gpt Ag, Not NI-43-101 compliant) after studying mine level plans with grades, sections and eight new drill holes.
  • United States Antimony Corp. announced the appointment of Jonathan Miller as vice president of investor relations and global sales director (Juarez, Queretaro).
  • Solaris Resources Inc. appointed Mr. Arun Lamba as vice president, corporate development (La Verde, Michoacán).
  • DYNR-Dyna Resource Inc. appointed Mr. Alonso Sotomayor as chief financial officer (San José de Gracia, Sinaloa).

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: Chloritized biotite (?) lining a quartz veinlet in a Sonoran Desert project, HQ core. Picture by Jorge Cirett.

Trabajadores rechazan acuerdo con Arcelormittal y mantienen huelga; conflicto irá a tribunales

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Por Reuters

Miércoles 10 de Julio de 2024

“El pasado 4 de julio se llegó a un acuerdo con el Sindicato Nacional Minero y la Empresa, que era muy positivo para los trabajadores y fue sometido a votación de estos este martes 9 de julio, siendo rechazado por la mayoría”, dijo en un comunicado la Secretaría de Trabajo.

Según el documento, el acuerdo incluía un pago de más de 2,000 dólares por trabajador y del 75% salarios caídos (no cobrados durante la huelga), y una auditoria de los ejercicios fiscales 2022 y 2023 de la firma para determinar si el cálculo del reparto anual de utilidades a los empleados, que en México es obligatorio por ley, se había hecho de forma correcta.

Puede continuar leyendo el artículo en la fuente: https://www.eleconomista.com.mx/empresas/Trabajadores-rechazan-acuerdo-con-Arcelormittal-y-mantienen-huelga-conflicto-ira-a-tribunales-laborales-20240710-0056.html

ArcelorMittal estima que 300,000 toneladas de acero de mina mexicana están detenidas por trabajadores

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Por Lilia González Lunes 17 de Junio de 2024

La siderúrgica y minera tiene inmovilizadas 300,000 toneladas de acero para ser procesadas, desde el 25 de mayo pasado, cuando los trabajadores de la minera se plantaron en huelga.

Tras 20 días de huelga en las instalaciones de la mayor productora de acero en Michoacán, México, ArcelorMittal, la Cámara Nacional de la Industria del Hierro y el Acero (Canacero) exigió al gobierno federal y local que intervenga para encontrar “una pronta solución al conflicto” laboral con el sindicato, ya que se tiene un impacto fuerte en toda la cadena de valor de Norteamérica.

“Hacemos un atento y respetuoso exhorto al Sindicato de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, particularmente a su sección 271, así como a las autoridades de los tres niveles de gobierno para que, dentro de las facultades que las leyes le confieren, intervengan para encontrar una pronta solución al conflicto que se presenta, preservando el orden y el estado de derecho”, pugnó la industria nacional.

Puede continuar leyendo en la fuente: https://www.eleconomista.com.mx/empresas/ArcelorMittal-estima-que-300000-toneladas-de-acero-de-mina-mexicana-estan-detenidas-por-trabajadores-20240617-0055.html

The Mining and Exploration News in Mexico: Highlights on the Fifth Week of February 2024

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By Jorge Cirett                                             

During the 9th week of the year (February 26th to March 3rd, 2024), companies working in Mexico posted at least 23 news releases. One company reported on exploration at its property, one published its guidance for 2024, one released production results for the last quarter and one is stopping mining operations. Four companies announced financing rounds for a total of C$5.8 M, while one more announced a C$34 M financing. One company declared a dividend and one more the increase of its loan credit facility. One company informed on work at its advanced property and one more updated on ongoing development at a new property. One company is disposing of an interesting property, two announced director’s appointments and one more informed on its litigation process against the Mexican government. ON MEXICO ISSUES, the head of the Economy Secretariat announced the acquisition of the remaining 49% of the company producing salt from coastal flats in Baja California Sur. The first work pane under T-MEC was installed to review labor matters on a Zacatecas mine. ON EXPLORATION, in Sonora, Tocvan Ventures is to commence drilling at Pilar. ON MINING, Argonaut Gold announced its production guidance for 2024. Starcore International Mines released production results for the quarter. Golden Minerals is stopping mining at Velardeña, in Durango, and evaluating its alternatives. ON FINANCING, five companies informed on the opening or closing of financing rounds: Sierra Madre Gold and Silver (C$1 M), CMC Metals (C$1.2 M), Reyna Silver (C$2.5 M + $500 K), Defiance Silver (C$1.09 M), Vizsla Silver (C$34 M). Alamos Gold declared a quarterly dividend. Guanajuato Silver Company announced the increase of its gold loan credit facility to US$13.3 M. Aztec Minerals granted options to directors, management and consultants.  ON RESOURCES AND DEVELOPMENT, Torex Gold reported good drilling intercepts on brownfields and near mine exploration on several deposits at its Limón Guajes property in Guerrero. Avino Silver updated on development work at La Preciosa, in Durango. ON DEALS AND CORPORATE ISSUES, Ranchero Gold is disposing of its Santa Daniela property in Sonora. Silver Bull updated on the arbitration process on its dispute with the Mexican government. US Antimony and Hecla Mining announced director’s appointments. ON SOCIAL RESPONSIBILITY, no relevant news.

ON MEXICO ISSUES

  • Raquel Buenrostro, head of the Economy Secretariat (Secretaría de Economía) announced the nationalization of Exportadora de Sal, the company that produces salt from coastal plains in Guerrero Negro, Baja California Sur, by buying the 49% stake of the Japanese Mitsubishi company (In the 1980’s, the Mexican government managed even businesses that sold bicycles, the actual administration seems adamant in getting back to those times).   
  • The governments of the United States, Canada and Mexico installed the first work pane since the signature of the T-MEC, to resolve if there is or not a violation of workers’ rights at Grupo Mexico’s San Martín mine, in Zacatecas.   

ON EXPLORATION

  • Tocvan Ventures Corp. is set to commence drilling at its Pilar project in Sonora. After a year of focusing on bulk sampling and land consolidation, the company is to begin systematic drilling for resource definition and additional targeting. “The initial focus will be on infill and step-out targeting within and adjacent to the Pilar Main Zone including where previous drill campaigns successfully discovered the southern extension of the Main Zone, returning 108.6 meters of 0.8 g/t Au, including 9.4 meters of 7.6 g/t Au and 5 g/t Ag.”

ON MINING

  • Argonaut Gold Inc. announced its 2024 guidance for production, cost per ounce and exploration expenditure forecast, including figures for its Mexican operations. At La Colorada, in Sonora, Argonaut Gold is aiming to produce 5 to 6 K Oz Au on residual operations, at $1,600 to $1,700 cash cost and an AISC of $1,600 to $1,700 per Oz AuEq. At San Agustín, in Durango, Argonaut intends to mine 6.8 to 7.1 M tonnes of ore grading 0.45 to 0.50 gpt Au, recovering 37% to 39% Au to produce 35K to 40 K Oz Au at cash cost $1,650 to $1,750 per Oz Au and an AISC of $1,800 to $1,900 per Oz Au. Argonaut’s Mexican operations are expected to be cash flow breakeven. “A financial advisor has been appointed to assess strategic alternatives for the Mexican operations, including the sale of one or more of the assets”.
  • Starcore International Mines Ltd. announced production results for the Q3 ended January 2024, at its San Martin mine in Queretaro. During the period 52.7 K tonnes were milled, grading 1.58 gpt Au, 14.6 gpt Ag, recovering 89.1% Au, 50.3% Ag, to produce 2,514 Oz AuEq.
  • Golden Minerals Co. announced that it has elected to stop operations at its Velardeña properties in Durango. The company restarted mining operations in December 2023 with the goal of achieving positive cash flow during the first half of 2024. As the initial performance of the mine and processing plant has not achieved the results projected, the decision to cease mining operations was reached. Golden intends to “evaluate potential alternatives for the Velardeña Properties, which may include a sale of properties or winding up of certain of the Company’s Mexico operations.”

ON FINANCING

  • Sierra Madre Gold and Silver Ltd. announced a non-brokered private placement aiming to raise $1 M “with an existing long-term institutional shareholder”. Net proceeds are to be used to fund the care and maintenance on, and the mine restart plan at La Guitarra mine, in Estado de Mexico.
  • CMC Metals Ltd. is to carry a non-brokered private placement for aggregate gross proceeds of up to $1.2 M (Gavilanes, Durango).
  • Reyna Silver Corp. increased the size of its non-brokered private listed issuer financing exemption (LIFE) private placement previously announced due to investor demand, to go from $1.5 M to $2.5 M. The company is also completing a concurrent non-brokered private placement for gross proceeds of up $500 K to purchasers pursuant to other applicable exemptions under NI 45-106 (Guigui, Chihuahua).
  • Defiance Silver Corp. closed the first tranche of its previously announced private placement, for aggregate proceeds of C$1.09 M. Defiance also extinguished a debt for shares in the amount of $46.6 K (Zacatecas, Zacatecas).
  • Alamos Gold Inc. declared a quarterly dividend of US$0.025 per common share (Mulatos, Sonora).
  • Vizsla Silver Corp. completed its previously bought deal prospectus for aggregate gross proceeds of C$34 M, which includes the exercise in full of the underwriter’s over-allotment option for 3 M offered shares. The company paid to the underwriter a cash commission equal to 6% of the gross proceeds raised under the Offering. (Panuco, Sinaloa).
  • Guanajuato Silver Company Ltd. announced that the previously arranged US$7.5 M Gold Loan Credit Facility financing with Ocean Partners UK Ltd. has been increased to US$13.3 M. “The loan facility is for a term of 36 months from the date of the initial draw; it is repayable in equal fixed monthly installments of gold totalling approximately 338 troy ounces per month for a period of 30 months following a six-month grace period from the date of the initial draw.” The company also completed its shares-for-debt transaction totaling C$414.7 K by issuing shares, including those to three non-arms-length parties to settle for C$40 K (El Cubo mine complex, Valenciana mines complex, San Ignacio, in Guanajuato).
  • Aztec Minerals Corp. granted 3.27 M stock options to directors, management and consultants of the company (Cervantes, Sonora).

ON RESOURCES AND DEVELOPMENT

  • Torex Gold Resources Inc. released results from its 2023 drilling program at El Limón Guajes in Guerrero. Highlighted core length intervals comprise 22.91 m @ 10.94 gpt Au, 12 gpt Ag, 0.41% Cu; 7.50 m @ 8.09 gpt Au, 119 gpt Ag, 2.12% Cu At El Limón Sur Trend, 37.08 m @ 14.04 gpt Au, 9 gpt Ag, 0.38% Cu; 20.57 m @ 8.22 gpt Au, 29 gpt Ag, 1.02% Cu at El Limón Deep Trend, 12.33 m @ 8.92 gpt Au, 7 gpt Ag, 0.4% Cu; 4.66 m @ 2.13 gpt Au, 37 gpt Ag, 2.05% Cu at the Sub-Sill Trend and 4.00 m @ 11.78 gpt Au, 140 gpt Ag, 0.14% Cu; 3.55 m @ 10.07 gpt Au, 36 gpt Ag, 0.87% Cu at El Limón West Trend. During 2023, 60,699 m were drilled in 248 holes at El Limón Guajes brownfield and near mine exploration. For 2024, $12 M have been allocated to infill and step-out 54,500 m of drilling, focusing on further exploring the northeast trending structural corridors.
  • Avino Silver & Gold Mines Ltd. updated on ongoing development work at La Preciosa, in Durango. Current works and prep at the Avino mill include the rehabilitation of the office building, extensive sampling of historic surface mineralized stockpiles, haulage of such stockpiles to the Avino mill complex, reinforcement of walls at the mine entrance and previously developed underground areas and the rehabilitation of a thickener tank. “Once the rehabilitation work on the thickener is complete, production of a silver-gold concentrate from this stockpile material will commence which will be another milestone for the Company.”

ON DEALS AND CORPORATE ISSUES

  • Ranchero Gold Corp. approved on a special meeting of shareholders the disposition by its subsidiary the interest in four mining concessions covering the Santa Daniela property in Sonora. The disposition is subject to TSX approval, and the remaining US$1.9 M near-term cash payment will only be paid when the concessions have been transferred to Alamos Gold Inc.
  • United States Antimony Corp. added Joseph A. Carrabba as an independent director to its board (Juarez, Queretaro).
  • Silver Bull Resources Inc. updated on progress with its international arbitration claim against the Mexican government. Advances include the appointment of a three-person arbitration panel by the International Centre for Settlement of Investment Disputes, with a first session on February 13, 2024. A quantum expert was engaged by the company to assess its claims. Silver Bull is to file its Memorial in May 2024, with the Arbitration hearing slated for October 2025 (Sierra Mojada, Coahuila).
  • Hecla Mining Co. announced the appointment of Mark P. Board as a director, effective February 23, 2024 (San Sebastián, Durango).

ON SOCIAL RESPONSIBILITY

  • No Relevant News.

On the image below: subcrop of granitic rocks on a project in the Sonora desert. Picture by Jorge Cirett.

Minera Peñasquito y Sindicato Minero logran acuerdo para poner fin a huelga de casi cuatro meses

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Por María del Pilar Martínez

Jueves 05 de Octubre de 2023

Parte del acuerdo establece que se otorgará un incremento salarial del 8%, además de dar a los trabajadores un bono por activación equivalente a 152 millones de pesos.

A casi cuatro meses de huelga, y con la mediación de la Secretaría del Trabajo y Previsión Social (STPS), la Minera Peñasquito y el Sindicato Nacimiento de Trabajadores Mineros, Metalúrgicos, Siderúrgicos y Similares de la República Mexicana, lograron un acuerdo que permite que alrededor de 2,000 trabajadores retomen sus actividades laborales.

Continuar leyendo en: https://www.eleconomista.com.mx/empresas/Minera-Penasquito-y-Sindicato-Minero-logran-acuerdo-para-poner-fin-a-huelga-de-casi-cuatro-meses-20231005-0090.html

Mineros de Peñasquito ponen fin a huelga de cuatro meses tras aceptar oferta de Newmont

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Los trabajadores de la mina de oro más grande de México recibirán un 8% más de salario por cada turno

Como parte del acuerdo, los trabajadores de la mina Peñasquito recibirán un 8% más de salario por cada turno, y el aumento será retroactivo al 1 de agosto, dijo el sindicato de trabajadores mineros en un comunicado.

Cada uno de los arededor de 2,000 trabajadores sindicalizados también reicbirá una parte igual de un total de MXN$152 millones (US$8.3 M).

Para continuar leyendo en la fuente: (Mineros de Peñasquito ponen fin a huelga de cuatro meses tras aceptar oferta de Newmont) https://www.bloomberglinea.com/latinoamerica/mexico/mineros-de-penasquito-ponen-fin-a-huelga-de-cuatro-meses-tras-aceptar-oferta-de-newmont/

Avanza instalación de panel laboral en caso de Grupo México

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Por María del Pilar Martínez Miércoles 27 de Septiembre de 2023

Esta queja fue interpuesta por el gobierno de Estados Unidos en contra de la mina San Martín perteneciente al conglomerado.

El secretario de Trabajo y Previsión Social (STPS), Marath Bolaños, afirmó que ya se instaló el Panel Laboral, en el marco del T-MEC que resolverá la controversia entre países por la queja laboral que interpuso el gobierno de Estados Unidos en contra de la mina San Martín perteneciente a Grupo México.

Entrevistado en el marco del Foro Laboral: Logros, Avances y Desafíos en México, organizado por Coparmex, Bolaños sostuvo que “se conformó el panel, son tres miembros los que conforman este panel… ( ) se tiene avanzado, justamente ya dio comunicación al respecto la Secretaría de Economía, también ya dio comunicación al respecto porque es la que está encargada de dar el seguimiento a esto, por supuesto el acompañamiento va por parte también de la Secretaría del Trabajo”.

Puede continuar leyendo el artículo en : https://www.eleconomista.com.mx/empresas/Avanza-instalacion-de-panel-laboral-en-caso-de-Grupo-Mexico-20230927-0132.html