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Torex Gold to build solar plant in Mexico

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(Kitco News) - Torex Gold Resources (TSX: TXG) announced Thursday that the company has entered into a commercial lease agreement with Scatec, a leading, publicly traded, to build a new 8.5 megawatt solar plant at its Morelos property in Mexico, which includes the El Limon Guajes mine and Media Luna project.

The company said it is currently deriving 100% of its power supply from Mexico's Federal Electricity Commission, which includes a variety of energy sources including fossil fuels. Using 2019 emissions as the baseline, the company estimates that the new solar plant has the potential to reduce Scope 2 GHG emissions by as much as 8.6% and overall (Scope 1 + Scope 2) GHG emissions by up to 4.75%.

President & CEO Jody Kuzenko commented, "We are very pleased to partner with Scatec on this new solar plant, our first major foray into renewable energy at our operations. The new facility will complement our existing power supply with a renewable energy source that demonstrates we are serious about reducing our carbon footprint, with a view toward carbon neutrality over time."

Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos gold property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometers southwest of Mexico City. The company's principal assets are the El Limón Guajes mining complex.

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