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.
Marathon Gold (TSX: MOZ) has awarded Metso Outotec with orders for key processing equipment for the Valentine gold project in Canada. The combined order value of approximately 15 million euros has been booked in the minerals division’s third quarter orders received.
“We chose Metso Outotec equipment because of their brand reputation, technology-oriented equipment, commitment to safety and environment, and their service footprint in Atlantic Canada,” says Paolo Toscano, VP projects, Marathon Gold.
Located in the central region of Newfoundland and Labrador, Marathon’s Valentine project represents a conventional open pit mining and conventional milling operation with a mine life of 13 years. Production is anticipated in late 2023, averaging 173,000 oz. of gold for the first nine years.
Metso Outotec’s scope of delivery consists of a VF Series grizzly feeder, a Nordberg jaw crusher, Planet Positive Premier SAG and ball mills, a mill reline machine (MRM), vibrating screens, and a high-rate tailings thickener with Reactorwell feed system.
“We are excited to work on the Valentine gold project with Marathon. We were able to align with the project’s key value drivers at an early stage and provide to-the-point technical support. Marathon has selected leading class equipment for their gold production process, and they will also be able to benefit from our broad-based service organization,” says Andy Lingenfelter, VP minerals sales in North and Central America, Metso Outotec.
