Silver and gold mining company Fresnillo said on Tuesday that it did not expect the recently enacted mining law reform in Mexico to have a material impact on its operations or its advanced projects.
The London-listed miner noted that it had all the necessary concessions in place to permit its operations on an ongoing basis, with the average remaining term for its concessions being 28 years.
Each concession would be subject to renewal at the end of their respective terms. The same goes for the group’s main advance exploration projects – Orisyvo and Rodeo – that have an average term of 33 years, with the option of renewal.
Regarding tailings dams, Fresnillo said it was still analysing any possible implications regarding the new requirements for the deposit of tailings or industrial residues. However, no significant adverse impact was anticipated.
Regarding concessions for Orisyvo and Rodeo, Fresnillo currently holds all concession permits which have an average term of 33 years, and which are in any case subject to renewal at the end of their respective terms.