The Canadian mining company Torex Gold Resources reported that it will invest 35 million dollars in mining drilling and exploration in Mexico during 2022, even amid the uncertainty of changes in the Mining Law regarding lithium, since its interest is focused on precious metals. especially gold.

Just last week, this company announced that it will invest 848 million dollars to carry out the Media Luna mining project, located in Guerrero, to commercial production, mainly gold, by the end of 2024.

Interviewed by El Economista, the vice president of Torex Gold in Mexico, Faysal Rodríguez, stressed that his company has certainty in the country's mining sector, in which it is committed to the long term.

The first reason for this bet is the federal government's cancellation of the granting of new mining concessions. Rodríguez indicated that Torex Gold has concessions that cover an area of 29,000 hectares, of which only 15% has been explored so far, so that it does not require new concessions. Rodríguez added that the large mining companies in Mexico are in similar situations.

Check here: Martinrea invests 45 million dollars in expanding its plant in Coahuila

What to say about the electrical reform? In particular, Torex Gold does not have serious conflicts of interest, because it buys 100% of its electricity from the Federal Electricity Commission (CFE).

And what about lithium, with a strategic interest in extracting it from the federal government? Here Rodríguez marks one more line: Torex Gold is interested above all in precious metals, on which the regulations in Mexico have not changed.

In addition to all this, there is a temporary factor: high gold prices. Situational and with a favorable perspective. Prices have fluctuated around $1,900-1,950 an ounce and Torex Gold estimates that they will remain roughly in that range for the next several years.

Of interest: Monterrey continues leadership in demand for industrial real estate

Mexico captured 600 million dollars of investments in mining exploration in 2021, with which it was placed in the first position in Latin America, according to data from the Chilean Copper Commission (Cochilco).

In 2021, the recovery of industrial activity boosted the demand for base metals, and with it prices.

Torex Gold is a Canadian-based intermediate gold producer engaged in the exploration, development and operation of its 100%-owned Morelos Property, an area of 29,000 hectares in the highly prospective Gold Belt. Oro de Guerrero, located 180 kilometers southwest of Mexico City.

The company's main asset is the Morelos Complex, which includes the El Limón Guajes mining complex; the processing plant; the Media Luna field, and related infrastructure.

In Solili you can consult industrial warehouses available in Guadalajara, Tijuana and Saltillo

Original note