mining-featured
Grupo Mexico to restart Cananea production in Sept.
El Semanrio - Grupo Mexico said it plans to restart copper production at the Cananea mine in September after a more than two-year dispute with union miners. The company plans to reach a capacity of 180,000 tons at the Sonora mine by February 2011.
www.elsemanario.com.mx/news/news_display.php
Serengeti acquires gold-silver properties
Market Watch - Serengeti Resources Inc. announced the formation of a Mexican subsidiary company, Compania Minera F.B. Integral, and acquisition of 100 percent interest in three gold-silver exploration properties in the State of Chihuahua, Mexico.
www.marketwatch.com/story/serengeti-acquires-gold-silver-properties-in-mexico-2010-07-27
Southern Copper, Asarco merger proposed
Reuters - Shares in Mexican miner Grupo Mexico rose on Friday after the company said its wants to boost efficiency by fusing units Asarco and Peru's Southern Copper, one of the world's biggest copper producers, offering a swap to shareholders in the Peruvian firm.
www.reuters.com/article/idUSN2310182320100723
Gold discovered at Riverside's Sonora project
Market Watch - Riverside Resources Inc.'s partner, Geologix Explorations Inc., has discovered gold in the first two drill holes of a proposed 2,000 metre project at Riverside's Libertad Gold Project in the state of Sonora.
Fresnillo gold, silver production rises to record
Bloomberg - Fresnillo, the world’s third- largest silver producer and Mexico’s second-biggest gold company, said second-quarter output of the metals rose to an all-time high, driving its shares to a record. Silver production increased to 9.62 million ounces from 9.59 million ounces a year earlier. Gold output jumped 34 percent to 91,254 ounces.
www.businessweek.com/news/2010-07-14/fresnillo-s-silver-gold-production-climbs-to-record.html
Carlos Slim subsidiary buys gold mine
El Universal - Grupo Carso, headed by mogul Carlos Slim, has acquired for $25 million Canadian Goldgroup's Future mine in the state of Aguascalientes through its Grupo Frisco subsidiary. Goldgroup said it will use the proceeds to invest in its projects in Veracruz and San Jose de Garcia in Sinaloa.
Ecometals signs agreement for gold-silver project
Winnipeg Free Press - Ecometals Ltd. has signed a non-binding joint venture agreement with a Mexican company for the Los Alonsos gold-silver project in the state of Jalisco. The agreement with the arm's-length Mexican firm will be paid in cash and shares, starting with $150,000 and 500,000 Ecometals shares.
Valdez is selling gold mines to Gammon
Maquila Portal - Canada-based Valdez Gold Inc. says its has agreed to sell to Gammon Gold its Los Jarros and Jarros Norte projects in Chihuahua. A total of $2.5 million for the purchase price will be paid over four years with arrangements for royalties.
www.maquilaportal.com/cgi-bin/public/board.pl
Miners at two firms get wage, benefit boost
Sentido Comun - Mine workers at Minera Williams and Carbón Mexicano received a salary increase of 8 percent plus additional benefits. Minera Williams, a Canadian company, is located in Velardeña, Durango, and employs 204 workers. Mexican Coal is based in Santa Rosalia, Baja California Sur.
Rehabilitating Cananea will cost $114 million
El Semanario - Resumption of operations at Grupo Mexico's Cananea open-pit copper mine in Sonora will cost about $114 million and take a year to reactivating the mine to 100 percent production, the company says. It claims cables and copper were pilfered by the striking miners recently ousted from the facility.
