Mexico is the dominant force in the global silver mining space, with some of the world’s biggest primary silver producing assets. But the country also hosts some of the largest undeveloped silver deposits which have been held back by weak economics and shifting prices.
With mining and exploration activities restarting following a COVID-19 suspension, BNamericas takes a look at latest developments at four projects holding a combined 1.78Boz of silver in reserves.
Silver is currently trading in the US$17-18/oz range, down from a recent peak of around US$19/oz in 2H19, but up from a US$14.99/oz average in June last year.
TOP SILVER DEPOSITS
Owner: Discovery Metals
Silver resource: 595Moz
Discovery Metals has made significant strides forward on the financing and exploration side at Cordero as it seeks to define an economically viable investment.
The company raised Cdn$25.0mn (US$18.5mn) in a non-brokered private placement which closed earlier in June, which will fund further exploration at the Chihuahua state asset, one of the world’s biggest undeveloped silver deposits.
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