Fresnillo and Mag Silver had agreed in April 2019 to develop the Juanicipio deposit, but the pandemic and logistical setbacks delayed the project.

Union workers approved a partial strike last week and threatened a complete work stoppage over safety concerns at the world's largest copper mine.

The precious metals miner said it reopened the Mexican gold mine on Sep. 10 following an initial meeting with local leaders.

New copper mining projects will be exempt for five years from an ad-valorem component that was proposed in a new mining royalty.

The deaths add renewed attention to mining safety protocols in Latin America.

Over a mine life of 10.5 years, the TZ project is expected to produce 1.83 million oz. of gold, averaging 175,000 oz. per year.