Mexico’s proposed higher mining royalties could block nearly $7bn in investments
The Mexican government proposed raising mining royalties under the argument that metal prices have risen in recent years.
Canada Cobalt Works has poured its initial three silver bars at the Castle silver-cobalt mine 75 km south of Kirkland Lake, near the town of Gowanda, in Ontario. The pour was part of a proof of concept test ahead of ramping up the mining rate.
Canada Cobalt says it plans to pour a 1,000-oz. silver bar later this month.
The pilot plant at the Castle mine separated leaf silver and created a silver gravity concentrate. Smelting took place at PolyMet Labs in the town of Cobalt, Ont. The three bars totaled 300 oz. Canada Cobalt has signed a binding letter of intent to acquire PolyMet Resources because its plant combines, bullion smelting, bulk sampling, commercial assaying, and e-waste processing.
Canada Cobalt used its environmental friendly Re-2OX process on the same waste material to recover cobalt and produce a cobalt sulphate at SGS Lakefield.
(This article first appeared in the Canadian Mining Journal)
