- Published: Tuesday, 19 December 2017 20:27
- Written by E&MJ News
Argonaut Acquires Cerro del Gallo Project in Mexico
Argonaut Gold has reached an agreement with Primero Mining Corp. to obtain the Cerro del Gallo (CDG) project through the purchase of all the shares of Primero’s subsidiary San Anton Resource Corp. for $15 million in cash, which is payable upon closing. Argonaut expects to be able to recover approximately $1.7 million of value-added tax, which reduces the total purchase price to $13.3 million. The company expects the transaction to close on or before November 30.
Operations Resume at Uchucchacua Mine in Peru
Compañia de Minas Buenaventura, Peru’s largest publicly traded precious metals mining company, reported that its Uchucchacua mine has resumed operations. A task force, “mesa de trabajo,” was established on November 3 by the Office of Social Affairs of the Ministry of Energy and Mines with the participation of other public offices, including representatives from the Prime Minister’s office, to end the conflict and resume negotiations with the Oyon community. It removed the roadblock, which was preventing Buenaventura’s team from entering the Uchucchacua mine site. Normal operations at Uchucchacua resumed on November 4.
Lundin Orders Long-lead Process Equipment for Fruta del Norte
Lundin Gold has announced that long-lead-time process plant equipment for its Fruta del Norte gold project in Ecuador has been ordered and that soft tunneling for mine development is well advanced. The long-lead-time grinding equipment package, including the SAG and ball mills, complete with motors, was awarded to Outotec Chile S.A. Outotec was also awarded the flotation and filtration packages. Orders for the remaining process plant equipment packages are expected to be awarded by year-end.
LSC to Acquire Mina Teresa in Argentina
LSC Lithium Corp., together with its subsidiaries, has entered into a binding letter of intent to purchase all shares of Alqa Lithium S.A., the sole owner of the Mina Teresa project covering 2,595 hectares in the Salar de Salinas Grandes in Argentina’s Jujuy Province, for $2 million payable in three installments. Closing of the acquisition is expected to take place around December 15, but no later than the end of 2017.
Production Commences at San Rafael
Americas Silver Corp. has initiated production at its San Rafael mine as the sole source of mill feed for the company’s Cosalá Operations in Sinaloa, Mexico. Initially, the company is targeting a throughput of 1,500 metric tons per day (mt/d). The mine is currently producing more than 1,000 mt/d as it continues its ramp-up. There is a stockpile in excess of 25,000 mt of San Rafael ore and a further 50,000 mt of Nuestra Señora ore at the mill, if required.