Torex Gold hits record output at Mexico mine

Bnamericas Published: Friday, January 13, 2023

Mexico-focused Canadian miner Torex Gold Resources reported record annual gold output of 474,035oz in 2022, exceeding guidance. 

Guidance was 430,000-470,000oz, while Q4 production was 116,196oz. Comparative figures were not provided.

“We delivered an outstanding year operationally in 2022… This consistent performance has enabled Torex to achieve annual production guidance for the fourth year in a row,” CEO Jody Kuzenko said in a statement. 

Torex owns 100% of the Morelos mine in Mexico’s Guerrero Gold Belt, which includes the El Limón Guajes (ELG) complex, the Media Luna project, the processing plant and related infrastructure. Morelos is the company’s only operating mine.

“Our excellent operational performance this year included record annual throughput in the mill of 12,600t/d and record annual contribution from the ELG underground,” Kuzenko added. 

Media Luna 

“In addition to excellent operational results, during the quarter, steady progress was made at the Media Luna project, with key engineering and procurement activities advancing," the chief executive said. 

According to Kuzenko, the Guajes tunnel achieved record development rates during December, with an average advance rate of 7.2m a day. "With total development at 3,250m in the Guajes tunnel at year-end, the tunneling team has now successfully crossed under the Balsas River and continues to be on pace for breakthrough in early 2024, if not before.”

During Q4, Torex acquired three permits after receiving the critical environmental permit for the US$848mn Media Luna project and authorization to increase the power draw at the site to 45MW in October. 

“We are well positioned to deliver another solid year operationally in 2023 as we look to maintain the steady performance in the mill, increase underground mining rates to 1,800t/d by year-end, and further bolster our culture of safety, as we continue to build our future through construction and development of the Media Luna project," the CEO said.

Toronto-based Torex plans to release its fourth quarter and year-end financial and operational results on February 22.

Subscribe to the most trusted business intelligence platform in Latin America. Let us show you our solutions for Suppliers, Contractors, Operators, Government, Legal, Financial and Insurance.

Subscribe to Latin America’s most trusted business intelligence platform.

Other projects in: Mining & Metals (Mexico)

Get critical information about thousands of Mining & Metals projects in Latin America: what stages they're in, capex, related companies, contacts and more.

  • Project: Guigui
  • Current stage: Blurred
  • Updated: 4 weeks ago
  • Project: Oposura
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Los Ricos
  • Current stage: Blurred
  • Updated: 2 weeks ago
  • Project: La Joya
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Sonora
  • Current stage: Blurred
  • Updated: 1 month ago
  • Project: Juanicipio
  • Current stage: Blurred
  • Updated: 1 month ago

Other companies in: Mining & Metals (Mexico)

Get critical information about thousands of Mining & Metals companies in Latin America: their projects, contacts, shareholders, related news and more.

  • Company: Colibri Resource - Silver Spruce JV
  • Colibri Resource - Silver Spruce JV is a company formed by Colibri Resource Corp., and Silver Spruce Resources Inc. for the execution of the Jackie project, which is located in ...
  • Company: Cámara Minera de México  (Camimex)
  • Mexican trade organization Camimex represents the interests of the local mining industry — providing a clear voice for Mexican mining. Headquartered in Mexico City, Camimex has ...
  • Company: Grupo Acermex11
  • Grupo Acermex11 is a Mexican corporate business group that operates through its subsidiaries in different sectors of the economy, including industrial, commercial, agricultural ...
  • Company: Fresnillo Plc  (Fresnillo)
  • Fresnillo Plc, a subsidiary of Mexican firm Industrias Peñoles (75% ownership), is a precious metal mining company incorporated in the UK and headquartered in Mexico City. Fresn...
  • Company: Empresas Matco, S.A. De C.V.  (Matco)
  • Empresas Matco S.A. de C.V. is a Mexican equipment and services supplier for the construction, mining, transportation, power generation, agriculture, aquaculture, aggregates, ma...
  • Company: Servicio Geológico Mexicano  (SGM)
  • Public organization created to generate and provide geological-economic knowledge of the country, maximizing value, focused on the investment, promotion and sustainable use of n...