Mining chamber of Mexico seems to believe there is.
HERMOSILLO, SONORA.- The company Peñoles concluded with the expansion of its operations for extraction and processing of gold in the municipality of Caborca ??with an investment of 160 million dollars.
The work will allow it to have a greater production capacity in the La Herradura and Noche Buena mines in that municipality, confirmed on Wednesday the state economy secretary, Jorge Vidal Ahumada.
The official noted that, in addition, Grupo Mexico has already confirmed that it will start with the construction of the new copper mine "El Pilar" in the municipality of Cananea, with an additional investment of 170 million dollars.
He said that this occurs in a context in which the mining sector of Sonora is accelerating in depth, with increases in the production of those two metals that are the main products of the extractive sector of the entity, which are driven by improvements in the international prices.
Vidal Ahumada said that Peñoles has an additional project to build a new gold mine in the state, which considers an investment of 100 million dollars also in Caborca, called "Abismo Centauro", a project that has already completed its testing phase and who is considering the project in order to be built.
The Inegi reported that Sonora's mining activity continued to expand at the end of August with a 15.6% difference in copper production compared to the same period of 2016 and with a 3.35% increase in gold extraction, The two main products of the sector.
According to the statistics of August, Sonora contributed 3 thousand 566 kilos of gold to the national production, which is equivalent to 30% of the national production, with which the state remains as national leader, followed by Zacatecas that contributed 2 thousand 447 kilos and Chihuahua that contributed 2 mi 138.
In the case of copper, the Sonora production accounts for 80% of the national production with 52 thousand 13 tons of this industrial metal, which is exported primarily to China and Europe, in second place is Zacatecas with only 3 thousand 645 tons.
The Mining Chamber of Mexico explained that there are 5 gold mining projects in development in the entity, which are the Yaqui of the Álamos Gold, Santa Elena and San Felix companies of the Mexus Gold-Marmar Holding company; Rain of Gold of the firm Metallorum; Abismo Centauro, by Fresnillo; in addition to a new extension of the La Herradura Mine also in the hands of Fresnillo.
In these 6 projects, there is the possibility of increasing the production capacity of the state by 632 thousand additional ounces, with which the leadership of Sonora in the extraction of this mineral is guaranteed in the long term.
The good perspectives of the sector