Data Insights: 12 Mexican mining projects aiming to hit key milestones in 2025

Twelve Mexican mining projects involving combined investments of US$3.26bn are expected to advance to key stages during 2025, with eight scheduled to begin operations and four starting construction, according to BNamericas’ projects database.

However, compliance with the deadlines depends largely on the approval of permits by the environment and economy ministries. Permitting continues to be one of the main obstacles to developing mining initiatives and attracting capital.

For example, the start-up of three projects involving gold, silver and copper has been postponed to 2025 due to supply problems caused by adverse weather conditions, commissioning setbacks or permitting delays.

The projects are Torex Gold's US$950mn Media Luna, Luca Mining's US$27.5mn Tahuehueto and Sonoro Gold’s US$15.5mn Cerro Caliche.

Vancouver-based Chesapeake Gold has filed an appeal with Mexico's collegiate court against the decision of a regional chamber of the federal administrative court to uphold the cancellation of the San Vicente 3 mining concession by the mining department. This concession accounts for 700ha of the US$359mn gold-silver-zinc Metates initiative that covers 4,260ha. 

Should Chesapeake remain unsuccessful in reinstating the concession, the company's resource estimate for Metates may be affected. Likewise, the project's ability to develop as described in Metates' preliminary economic assessment may be “materially affected,” Chesapeake said in a release earlier this month.

The Canadian miner had planned to begin construction in the first quarter and start operations in the fourth quarter of next year.

Preparing to start operations

Project	Company	Capex	Description	Status
Tahuehueto	Luca Mining	US$27.5mn	underground operation of gold, silver, copper, lead and zinc	under construction
Media Luna	Torex Gold	US$950mn	underground operation of gold, silver and copper	under construction
Fenix (phase 1)	McEwen Mining	US$42mn	open-pit mining of gold and silver; tailings	additional environmental evaluation
Terronera	Endeavour Silver	US$271mn	underground mining of silver and gold	under construction
Los Ricos Sur	GoGold	US$148mn	open pit mining of copper and gold; underground mining of silver	feasibility
La Parrilla	Silver Storm	-	brownfield/expansion/revamp	feasibility
Cerro de Oro	Minera Alamos	US$28.1mn	open pit mining of gold	environmental and social evaluation
Cerro Caliche	Sonoro Gold	US$15.5mn	open pit mining of gold	environmental and social evaluation

Preparing construction

Project	Company	Capex	Description	Status
EPO (Morelos complex extension)	Torex Gold	US$81.5mn	brownfield/expansion/revamp	advanced exploration
San Nicolas	Agnico Eagle-Teck	US$1.1bn	open pit mining of copper, gold, silver, lead and zinc	environmental and social evaluation
Ana Paula	Heliostar	US$234mn	open pit mining of gold, underground mining of silver/substations /transmission lines	advanced exploration
Metates	Chesapeake Gold	US$359.2mn	open pit mining of gold, silver and zinc	prefeasibility