The company Grupo México reported that its Buenavista Zinc project, located in Sonora, is expected to come into operation in 2023.
This project is located within the Buenavista deposit in Sonora and consists of the construction of a concentrator with a production capacity of 100,000 tons of zinc and an additional 20,000 tons of copper per year.
The Buenavista Zinc engineering study has already been completed. To continue with the project, greater preventive measures against Covid-19 have been implemented.
Equipment purchase progress has progressed to 96% and the main equipment is now on site.
Additionally, Site Construction Works are in progress.
Buenavista Zinc
The project has all the necessary permits and this investment has a budget of 413 million dollars.
As of December 31, 2021, 217 million dollars were invested in this project.
Likewise, upon completion of this new concentrator, the zinc production capacity will be doubled and it is estimated that it will generate 490 direct jobs and 1,470 indirect jobs.
Grupo México’s Mining Division is represented by its subsidiary Americas Mining Corporation (AMC), its main subsidiaries being Southern Copper Corporation (SCC) in Mexico and Peru, and Asarco in the United States.
The sum of both companies maintains the largest copper reserves in the world. SCC is listed on the New York and Lima Stock Exchanges.
SCC’s shareholders are, directly or through subsidiaries: GMexico (88.9%) and other shareholders (11.1%).
It has mines, metallurgical plants and exploration projects in Peru, Mexico, the United States, Spain, Chile, Argentina and Ecuador.
Asarco rejoined GMexico on December 9, 2009. It has 3 mines and 1 smelter in Arizona and 1 refinery in Texas.
El Arco
Located in Baja California, this is a world-class copper deposit with ore reserves of over 2.4 billion tons with an ore grade of 0.422%; 0.3 billion leach material grading 0.288%; and 0.11 grams of gold per ton.
This project includes an open pit mine with concentrator and leach plant operations.
Grupo México expects annual production to be close to 190,000 tons of copper and 105,000 ounces of gold.
The company has completed the base study and is reviewing the basic engineering analysis to request the environmental impact statement. For years, it has had the corresponding mining concessions and during 2020 it concluded with the acquisition of all the necessary land.
