Mexico gears up for international arbitration, searches for legal counsel

The Camino Rojo open-pit project in Zacatecas is expected to produce 97,000 oz. gold annually over seven years.

Despite the expectation, the miner believes output will be on the low end of guidance and the high-end of projected costs.

Following a request to review the project, the Ministry of Mines temporarily suspended the licence.

The loan by Export Development Canada will help Codelco finance an ambitious overhaul of its aging mines.

The new permit provides the key approvals necessary for the construction of a commercial-scale mine.

Anti-mining protests in Peru have held up about $400 million in copper exports from some of the country’s top mines.

Iamgold has also announced drilling results for its Saramacca joint venture project.

Total investment in the Ruby Project, in which BHP holds a 68.5% stake, is about $500 million.

But Fitch analysts remain positive on both lithium and cobalt and expect prices to recover, as EV demand for both metals catches up to supply.