Torex is an intermediate gold producer based in Canada, engaged in the exploration, development, and operation of its 100% owned Morelos Property located 180 kilometres southwest of Mexico City
Torex Gold Resources Inc. (the “Company” or “Torex”) (TSX: TXG) announces the Company has received approval from Mexico’s Secretariat of Environmental and Natural Resources (“SEMARNAT”) on the key, culminating environmental permit for the Media Luna Project. 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. The Company has also received approval to increase the power draw at site to 45 megawatts (“MW”).
Jody Kuzenko, President & CEO of Torex, 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.
“The MIA Integral follows on the MIA Modification and Change of Land Use permits received over the last two years and integrates our environmental requirements on both sides of the Balsas River under a single authorization. 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. 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.”
Source: Company Press Release