Canada-based Discovery Silver has formally submitted Manifestacion de Impacto Ambiental (MIA) or environmental impact assessment for its fully owned Cordeo silver project in Mexico.

The company filed its MIA for evaluation to the federal government agency Secretaría de Medio Ambiente y Recursos Naturales (SEMARNAT), which is in charge of assessing MIA submissions.

Mexico-based environmental permitting consultant CIMA Consultores Ambientales (CIMA) is the primary author of the MIA submission.

Discovery Silver said the MIA includes comprehensive social and environmental work programmes completed by the company’s team in Mexico since 2020 along with several reviews by third-party consultants.

CIMA and Vinfidem Consultants completed environment and social evaluation baseline studies respectively with the data gathered through the 2021–2022 period.

Environmental Resources Management completed a third-party review of Discovery Silver’s sustainability practices.

Besides, Ausenco Engineering Canada, AGP Mining Consultants, Knight Piésold, WSP Global and Blue Coast Research provided input in key technical areas.

The MIA is one of the important permits required for the development of the Cordero silver project.

Discovery Silver CEO Tony Makuch said: “The submission of our MIA represents a major milestone for the Company.

”The submission is supported by comprehensive environmental and social baseline assessment work and outlines detailed plans for the responsible and sustainable development of the Cordero Project.”

Located in Chihuahua State, the Mexican silver project was acquired by Discovery Silver in 2019.

According to the company’s preliminary feasibility study (PFS) released earlier this year, the Cordero project requires an initial capital expenditure (capex) of $455m to develop its first phase.

The PFS also reports a post-tax net present value (NPV) of $1.2bn and an internal rate of return (IRR) of 28% for the silver project.

Furthermore, the development and operation of the Cordero project are reported to generate significant long-term business opportunities for local, regional and national service providers and suppliers.

It will include an estimated purchase of $4bn goods and services locally within Mexico over 18 years of the silver project‘s life of mine.