Canadian mining company Aurcana Corporation has increased its ownership in Mexico’s Real de Maconi from 92% to 99.86%, following capital restructuring program at Real de Maconi.
Real Maconi holds a 99.99% stake in Minera La Negra which has a 100% interest in the La Negra Mine located in Mexico.
A third party holds the remaining minority interest of 0.14%.
The La Negra silver-lead-zinc-copper mine produced over 1 million ounces of contained silver in 2011.
The company, in addition, stated that its Shafter Silver mine located in Southwest Texas, US is scheduled to start production within four months.
It is estimated to produce 3.8 million ounces of silver in the first year of operation.
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