Juanicipio silver/gold project, Mexico
Name of the Project
Juanicipio silver/gold project.
Location
The project is located in the Fresnillo mining district of Mexico.
Project Owner/s
Minera Juanicipio, a joint venture (JV) between Fresnillo (56%) and MAG Silver Corp (44%). Fresnillo will be the operator of Juanicipio.
Project Description
A mine, with total estimated average production of 11.7-million ounces of silver a year and 43 500 oz/y gold, and an initial life-of-mine of 12 years, is envisaged.
Potential Job Creation
The project is expected to create about 2 750 jobs during construction and 1 720 jobs once at full production.
Net Present Value/Internal Rate of Return
Not stated.
Capital Expenditure
Pre-operative capital expenditure of $395-million is estimated as of January 1, 2018, which does not reflect expenditures incurred since that date.
Planned Start/End Date
Construction is to begin immediately, with completion expected in late 2020, subject to finalising detailed engineering and securing remaining permits.
Latest Developments
Discussions with contractors are advanced and orders for long lead-time equipment delivery have been placed.
All principal permits and licensing have been obtained.
Key Contracts and Suppliers
None stated.
On Budget and on Time?
Too early to state.
Contact Details for Project Information
Fresnillo, tel +52 55 5279 3000.
MAG Silver Corp VP investor relations and communications Michael Curlook, tel +1 604630 1399 or email mcurlook@magsilver.com.
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