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.
StockMarketWire.com reports shares in Vane Minerals jumped by over 17% after it revealed higher grade gold/silver production as a result of the joint venture formed with the Ruiz Brothers in June last year. The results are the first that report the recovery progress from switching feedstock from solely Vane’s wholly-owned Diablito mine to combining areas owned and mined by Ruiz.
Headed by the ex-head of exploration at Freeport-McMoRan, Steven Van Nort, Vane also has gold and copper exploration projects in Mexico and Paraguay and uranium assets in Utah and Arizona.
Vane said there was a 24.6% increase SDA mill throughput and increase in gold/silver mill head grades through mining and milling of JV ore with 10,930 tonnes throughput, 2.81 g Au/t, 136gAg/T from January-April compared with 8,773 tonnes, 2.2 gAu/t, 195 gAg/T for September- December period.
Image of an LHD emerging from the Diablito Development Incline is courtesy of the company.
