(Kitco News) - Torex Gold (TSX: TXG) announced today that the company has received approval from Mexico’s Secretariat of Environmental and Natural Resources on the key, culminating environmental permit for the Media Luna project.
The company said that the approval (“MIA Integral”) allows for operations to begin at Media Luna and builds on the receipt of the MIA Modification received last year, which allowed for the execution of development activities on the south side of the Balsas River.
Torex also announced it has received approval to increase the power draw at site to 45 megawatts, adding that discussions with the utility authorities to further increase the power draw to 65 MW, required to sustainably deliver full production at Media Luna, are in process as well.
President and CEO Jody Kuzenko stated, “Receipt of the MIA Integral represents another key milestone in the de-risking of the Media Luna project, and further demonstrates the ongoing support of local communities and the endorsement of State and Federal Governments of both the social and environmental facets of this project.
“With the MIA Integral in hand, the company now has all the environmental approvals required to develop and operate Media Luna. Discussions about future in-pit tailings deposition and expanding the exploration boundaries are ongoing. The company also recently received approval to increase the power draw at Morelos to 45 MW to accommodate activities at both ELG and Media Luna.”
Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos property, an area of 29,000 hectares in the highly prospective Guerrero Gold Belt located 180 kilometres southwest of Mexico City. The company’s principal asset is the Morelos complex, which includes the El Limón Guajes mining complex, the Media Luna project, the processing plant and related infrastructure.
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