Canadian Mining Journal


Mexico Snapshot: Eight companies to watch

Mexico is an attractive destination for Canadian miners with its mining-friendly policies, prospective mineral belts and well-developed infrastructure and legislation. Below, we provide an overview of eight companies with exploration, development and production-stage assets in the country. 

Americas Gold and Silver

Americas Gold and Silver (TSX: USA; NYSE: USAS) is a precious metals producer with operations in Mexico and the United States. These include the Cosala operations in Sinaloa state as well as the Galena silver-lead complex and the Relief Canyon gold mine in Idaho and Nevada, respectively.

In February, Relief Canyon poured its first gold; the open pit heap leach operation expects to reach commercial production in the third quarter of this year. With a mine life forecast of six years, the 117-sq.-km site features proven and probable reserves of 27.2 million tonnes grading 0.75 gram gold per tonne for a total of 653,000 oz. gold. Over 80% of the holdings remain unexplored. The company expects Relief Canyon to churn out approximately 90,000 oz. per year at all-in sustaining costs (AISCs) around US$800 per ounce.

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