Alamos Gold Inc.’s Mulatos mine in Sonora state, Mexico, produced its 2 millionth ounce of gold in March. This milestone also marks the end of the 5% NSR royalty that the operation has been paying since the start of production in 2005. At the current gold price, this represents a savings of approximately $65 per ounce, which has already been incorporated into previously disclosed guidance, according to the company.
This past week also marked the completion of a voluntary relocation of residents of the town of Mulatos to Matarachi, which began in 2016. Alamos worked closely with the community during this relocation, investing in several projects that will provide long-term benefits, including the construction of 21 new homes, as well as a new education center, church, and medical clinic.
This past week, the company participated in an opening ceremony for these new facilities with the community of Matarachi and several key government officials, including Jorge Vidal, secretary of economy of the state of Sonora representing Gov. Claudia Pavlovich; Yvonne Stinston, general director of mining development of the federal government; and Berenice Porchas, mayor of Sahuaripa.
“The Mulatos operation has been an incredible success story,” President and CEO John A. McCluskey said. “It started producing gold in 2005 with approximately a seven-year mine life and 14 years later, the mine still has six years of reserves ahead of it.”
Alamos is a Canadian-based intermediate gold producer with diversified production from four operating mines in North America, as well as several development-stage projects in Canada, Mexico, Turkey and the U.S.
