LEADERSHIP

Bandits hit Mexican mine for a second time

Armed criminals raid Plomosas mine in Mexico for the second time

Haydn Black
ConsZinc's remote Plomosas mine

ConsZinc's remote Plomosas mine

At 3am (Chihuahua time) on April 15, a group of armed intruders entered the mine, locked the staff in a sea container, and made off with around 80 tonnes of zinc and lead concentrates valued by the company at US$120,000.
 
No security guards or employees were harmed during the incident and are being counselled and supported, the company said this morning.
 
In November, a group of armed bandits entered the mine late at night, again locked them in the shipping container, and stole some 90t of concentrates, then valued at $90,000.
 
After the first incident the company upgraded security, including upgrading physical barriers on the access road and the police and Mexican Army offered to provide enhanced security in and around Plomosas.
 
Further security measures will now be considered.
 
The first theft meant the company deferred some $90,000 of upgrades.
 
ConsZinc commenced mining at Plomosas in September 2018 and achieved commercial zinc production later this year, but while it calls the operation "one of the world's highest grade, low cost zinc mines", rich but historically underexplored project has been troubled.
 
Most recently, it has been a victim of logistics and operational issues, including a shortage of spare parts that meant its mining fleet were often out of action, and December quarter production was just 60% of target.
 
Diesel and key reagents have also been hard to source.
 
December quarter sales were 377t of zinc and 112t of lead, and there some 98t of concentrate stockpiled at the mine in January.
 
While the mining has been troubled, the orebody is considered extremely robust and much of the ore mined has come from outside the resource envelope.
 
The company started the year with A$317,000 in cash, but recently raised $1.55 million via a 2.5c placement to fund due diligence on a planned move into Western Australian lithium, nickel, and rare earth assets.
 
The company's shares last traded at 2.9c, valuing it at $10.5 million. 

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

A growing series of reports, each focused on a key discussion point for the mining sector, brought to you by the Mining Journal Intelligence team.

editions

ESG Mining Company Index: Benchmarking the Future of Sustainable Mining

The ESG Mining Company Index report provides an in-depth evaluation of ESG performance of 61 of the world's largest mining companies. Using a robust framework, it assesses each company across 9 meticulously weighted indicators within 6 essential pillars.

editions

Mining Journal Intelligence Global Leadership Report 2024: Net Zero

Gain insights into decarbonisation trends and strategies from interviews with 20+ top mining executives and experts plus an industrywide survey.

editions

Mining Journal Intelligence Project Pipeline Handbook 2024

View our 50 top mining projects, handpicked using a unique, objective selection process from a database of 450+ global assets.

editions

Mining Journal Intelligence Investor Sentiment Report 2024

Survey revealing the plans, priorities, and preferences of 120+ mining investors and their expectations for the sector in 2024.