Minera Alamos tables initial resource for Cerro de Oro
The resource estimate for the Mexico project features 48 million inferred pit-constrained tonnes, grading 0.41 g/t gold, containing 630,000 oxide gold oz.
Missed production targets, higher operational costs and political turbulence at mines in Africa and Asia have investors turning increasingly sour on the world’s second-biggest gold producer.
The project threatens community health, cultural sites and traditional practices due to potential contamination and restricted land access, the Nation said.