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.
VANCOUVER, BRITISH COLUMBIA, Jan 23, 2012 (MARKETWIRE via COMTEX) — Alexco Resource Corp.CA:AXR +2.22% AXU +3.15% today reports record silver production of 608,093 ounces during the fourth quarter of calendar 2011 from the Bellekeno mine in the Keno Hill Silver District, Yukon.
Silver production increased 21%, mine output increased 66% and mill throughput increased 5% compared to the prior (third) quarter of calendar 2011. Total production during 2011, which was Alexco’s first full year of mine operations, was 2,020,695 ounces of silver, 16,454,395 pounds of lead and 7,219,740 pounds of zinc.
Alexco anticipates further increasing silver and base metal production in 2012 with the development and commissioning of two additional underground mines in the Keno Hill Silver District. The Company is also planning an approximate 25% expansion of surface and underground exploration drilling programs during 2012.
