Silver Mining Keeps Growing in Mexico

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Researched by Industrial Info Research Latin America (Córdoba, Argentina)--There are several mining companies that provide projects for the production of silver, and with this they show confidence in the mining sector of the country and specially in the production of silver. Among the Canadian companies that invest in silver projects in Mexico is Silver Standard Resources Incorporated (NASDAG:SSRI), who will submit the feasibility study for Pitarrilla project, located in the state of Durando, in the second half of this year. The measured and indicated resources are estimated in 656 million ounces of silver. Pitarrilla would be operational by 2015.

Orko Silver Corporation (TSX-V:OK) recently retained 100% interest on La Preciosa project, also located in the state of Durango, after Pan American Silver relinquished its rights to obtain 55% stake on the project. La Preciosa contains 24.8 million tons of indicated resources for both open pit mineable ore and underground mining, while annual production is estimated in 8 million ounces.

Moreover, the Mexican miner Fresnillo plc bet on its San Julian project, which in so far has invested more than $113 million to achieve exploration and development of it. To date, indicate and inferred resources are 153 million ounces of Silver and 780,000 ounces of gold. The company expects to submit feasibility study by the end of this year and should go into production in 2014.

In 2011, Mexico was consolidated as a leading silver producer, and for the first time is among the top ten in gold production, ranking at number nine according to the Mining Chamber of Mexico (CAMIMEX).

In the rest of 2012 and in 2013, investments in the mining sector will be consolidated. It is expected that the production of most minerals will continue to increase, causing Mexico to be a mining power.

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