Resource World Magazine

6 www.resourceworld.com A P R I L / M A Y 2 0 1 9 THE LIST INCLUDES everyone from Goldcorp Inc. [G-TSX; GG-NYSE] to smaller players such as SilverCrest Metals Inc. [SIL-TSXV], Kootenay Silver Inc. [KTN-TSXV; KOOYF-OTC] and Sierra Metals Inc. [SMT-TSX, BVL]. As Mexico is producing 22% of the world's silver, 5% of the world's copper and is the fifth largest lead producer globally, it is hardly surprising that so many Canadian compa - nies are active there. "In general, Mexico has a large and well-trained workforce in the mining sec- tor," said Brad Cooke, CEO of Endeavour Silver Corp. [EDR-TSX; EXK-NYSE], the owner and operator of three underground silver-gold mines in Mexico. "Our biggest challenge has been retaining good workers, because there is always another company wanting to hire them away," Cooke said. In recent years, several companies have dealt with security issues and suffered the impact of strikes and work stoppages. The election last year of President Andrés Manuel López Obrador prompted specula - tion that dealing with anti-mining groups and communities defending their rights may become more challenging. But that has not changed the percep- tion that Mexico is an attractive investment option for companies wishing to gain access to the country's rich mineral endowment as well as the skills and knowledge of Mexican workers. Below is an update on the activities of companies currently active in Mexico. Agnico-Eagle Mines Ltd. [AEM-TSX, NYSE] is a Toronto-based company which produced 1.62 million ounces of gold in 2018. Its Mexican assets include the 100%- owned Pinos Altos Project, located in the mountainous region of northern Mexico 220 km west of Chihuahua. It is an open- pit and underground mining operation, containing substantial reserves of gold and silver. The nearby Creston Mascota deposit is a satellite stand-alone pit and heap leach operation, and part of Pinos Altos. The Pinos Altos Mine produced 181,057 ounces of gold in 2018. Creston Mascota achieved its production target of 40,180 ounces, while preparing to transition oper - ations to the new Bravo pit and to expand the existing heap leach facility. Agnico's other Mexican assets include the La India Mine in Sonora. La India is located about 70 km northwest of Pinos Altos. La India produced 101,357 ounces of gold in 2018. Exploration and Mining in Mexico MINERAL-RICH, MINING-FRIENDLY MEXICO HAS ATTRACTED DOZENS OF CANADIAN-LISTED COMPANIES. by Peter Kennedy Boasting a 500-year history of exploration and production, Mexico remains a prime destination for Canadian mining companies. Rob Peterman, Vice-President of Global Business Development with the Toronto Stock Exchange said 127 TSX and TSX Venture Exchange-listed companies had 392 projects in Mexico in 2017.

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