The Mining Chamber of Mexico (Camimex) highlighted five new gold mines in Mexico to start operations in 2024.
The first of these projects is Tahuehueto, owned by Luca Mining, and located in the state of Durango.
Tahuehueto will require an investment of 46.8 million dollars, with a useful life of 10.9 years and a production of 26,000 ounces.
In second place is the Terronera Endeavour project, where Endeavour Silver plans to invest US$230 million.
While the expected production of this mine, located in Jalisco, is 33,000 ounces, its useful life is 10.0 years.
Cerro Caliche plans to invest 15.5 million dollars for its Sonoro Gold project, located in Sonora, with a useful life of 9.0 years and a production of 33,100 ounces.
New gold mines
Torex Gold plans to invest US$874.5 million in its Media Luna project, located in the state of Guerrero, with an estimated 11.8 year life and 274,500 ounces.
Finally, the Santana (expansion) project, owned by Minera Alamos, is located in Durango, considers 15 million dollars in investments, a useful life of 9.0 years and a production of 15,000 ounces.
Other projects
At Sonoro Gold’s “Cerro Caliche” gold project, a new Preliminary Economic Assessment (PEA) was done in October 2023.
This evaluation shows that an open pit mining operation is possible.
It would have a life of nine years and produce 297,575 ounces of gold.
The project investment is US$15.5 million. It is expected to start in the third quarter of 2024.
On the other hand, Minera Alamos reported that in the second quarter of 2023 it completed the documentation to obtain permits for its “Cerro de Oro” gold project in Zacatecas.
In the meantime, it is planning additional metallurgical work and drilling to define the final operating plan.
Detailed engineering for the development of the mine is already underway.
The company requested US$25 million in financing for construction in 2024. Annual production is expected to be 58,400 ounces, with a life of 8.2 years and an initial investment of US$28 million.