Gatos Silver posts solid 2024, preps takeover by First Majestic
The deal will merge Gatos’ main Cerro Los Gatos mine with First Majestic’s San Dimas mine in Durango, and its Santa Elena operation in Sonora.
For the first time in 130 years, no one is mining asbestos in Canada. Mining is suspended at both producers. The Jeffrey underground mine is awaiting a $58-million loan guarantee from the provincial government. Plans to resume production at the end of 2010 have been delayed considerably. Lac d’amiante du Canada ceased mining near Thetford Mines earlier this month.