The Los Filos gold mine, operated by Canadian company Equinox Gold in Mexico, recorded a 19% year-on-year increase in gold production in 2023, to 159,071 ounces.
By 2024, the company projects gold production at this mine to be between 155,000 and 175,000 ounces.
The Los Filos Mining Complex in the state of Guerrero currently comprises three open pits, Los Filos, Guadalupe and Bermejal, and two subway mines, Los Filos and Bermejal.
Ore from all deposits is processed by heap leach recovery.
After commencing commercial production in 2008, the Los Filos mine was acquired by Leagold in 2017 and then purchased by Equinox Gold in March 2020.
According to the Mexican Mining Chamber (Camimex), the Los Filos mine ranked as the sixth largest gold producer in the country in 2022.
Ahead of this mine were Peñasquito (owned by Newmont), Limón-Guajes (Torex Gold), La Herradura (Fresnillo plc) and Dolores (Pan American Silver).
Gold mine
To ensure the long-term viability of the mine and maximize the value of the gold endowment at Los Filos, a carbon-in-leach (CIL) plant is needed to increase gold recovery from higher grade ores from both subway and open pit deposits.
Cost and production guidance for Los Filos is subject to the successful execution of new social and land access agreements with local community stakeholders and landowners.
Equinox Gold
These new agreements are required to help ensure the long-term economic and investment viability of the mine, including the addition of a new 10,000 tpd CIL processing plant.
If unable to successfully complete these agreements, the company will re-evaluate the current operation and may elect to suspend operations, indefinitely or until new agreements are in place.
Accordingly, Los Filos’ production and cost guidance for 2024 is subject to change.
This gold mine has been in operation for several years and has significant gold reserves.
With the operation of Los Filos, Equinox Gold is a significant contributor to the local economy and the mining industry in general in Mexico.