Canada-based Capstone Mining company has announced an increased proven mineral reserves at its Cozamin mine in Zacatecas, nothern Mexico.
In a recent media release, the miner increased its reserves by 97pc to 10.2mn mt per year, grading 1.79pc Cu.The company also said that the ramp-up to 1.35mn mt milled per year is on schedule for the second quarter of 2021. Between 2021 and 2023, when the expansion is completed, the miner expects to increase its average annual copper-silver production at Cozamin by 70pc to 61.4mn lbs (27.8mn mt) and 43pc to 1.75mn ounces, respectively.
Capstone’s mined copper production in 2019 was 153.4mn lbs, down by 1.2pc from 155.2mn lbs in 2018.In June, Mexico’s copper production fell by 6.4pc to 40,729mt, from 43,518mt in June 2019, according to the latest figures from the National Statistics Agency (Inegi). This new discovery could lead to a stabilization, or growth of the country’s output in the short and medium-term future.