The Mexican Environmental Authority has given Argonaut Gold (TSX: AR) a lump of coal for Christmas.
The regulatory body known as SEMARNAT has denied the mining company the EIA (Manifiesto de Impacto Ambiental [MIA]) for its San Antonio project in Baja California Sur, Mexico.
Peter Dougherty, Argonaut Gold’s president and CEO, declined a request for an interview, but in a press release stated that he was “disappointed” with the ruling, and that management will “review the factors that led to this decision and determine a path to move this project forward.”
He also described San Antonio as “one of the best undeveloped projects in the sector” and said the company’s plan for the project calls for “a modern approach to mining, including cleaning up historical overburden stockpiles and tailings, and working to improve the local aquifer.”
In addition, the company noted that it is “evaluating alternatives including legal options, the possible re-submittal of a revised MIA and continuing dialogue.”
Read the entire story at The Northern Miner.