Mining’s old guard needs strong medicine
A new report details subpar investor returns in the mining industry over the last decade, particularly big cap diversified companies which have not adapted to new realities.
Saucito is a silver (epithermal and veins) deposit, with additional occurrences of gold, lead, and zinc. Saucito is an underground operation.
Fresnillo (LSE:FRES) has recovered 85% of spilled tailings material after a pipe ruptured spilling material onto industrial land near the mining company‘s Saucito Mine on December 6.
Profepa, the Mexican Environmental Authority, is investigating the spill (site in Spanish). It says an area of approximately 8,000 square meters of industrial land and a 1,600 m2 plot adjacent to the mining company was affected. About 450 tonnes of solution was released.
Fresnillo says the solution, which was being pumped from the beneficiation plant to the tailings dam, is non-toxic. The company called the incident limited and said operations were not suspended.
“Fresnillo does not expect any material financial impact or loss of production as a consequence of the incident,” said the company in a statement.
Saucito is an underground silver and gold mine, operational since 2011.
