Canadian firm will invest US$200 million in Chihuahua

Category: News
Published: 2016-11-28

Canadian mining corporation Endeavour Silver announced the closing of a deal to buy a mine with silver contents, in Hidalgo del Parral, Chihuahua, property of Silver Standard Resources Inc, with a US$2 million investment for exploration within the next two years.

The firm purchased 3.432 hectares. Endeavour Silver Corp had already two operations in three underground mines in Mexico, gold and producers, one in Guanacevi, Durango and Bolañitos and El Cubo in Guanajuato. In September, it recorded net earnings for US$6.5 million and a 35% cut down in production costs and -24% cut down in maintenance costs. It recorded an increase in net earning worth US$13.9 million during the third trimester of 2016, even though the silver production went down by 29% and the gold production dropped 6%.

Source: El Diario