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Americas Gold and Silver and the Ministers of the Mexican Government Announce Agreement to Reopen the Cosalá Operations
TORONTO / Jul 07, 2021 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), is pleased to repo
About this update from Americas Gold And Silver Corporation
[{"type":"text","content":"TORONTO / Jul 07, 2021 / Business Wire / Americas Gold and Silver Corporation (TSX: USA) (NYSE American: USAS) (“Americas” or the “Company”), is pleased to report that it has signed an agreement with the Mexican Ministries of Economy, Interior and Labour committing to a reopening at the Cosalá Operations shut for over 17 months by an illegal blockade. After the long period of denied access, the agreement contemplates immediate right to possession of the property with a joint inspection coordinated by the Ministry of Labor this Thursday, so that the mine can restart operations in a safe and sustainable manner. Following the inspection and Company review, the Company will provide an update on a schedule to a return to normal operations at the mine and mill. Once production can be initiated, it is anticipated that the current higher silver prices will allow the Company to target the higher-grade silver ores in the Upper Zone of San Rafael and develop the silver-copper EC120 project. Mining these silver-rich areas of the Cosalá Operations is expected to significantly increase silver production to over 2.5 million ounces of silver per annum in the years following the restart. Coupled with the exploration success at the Galena Complex in Idaho, where the Company is targeting to reach peak historical annual production levels of approximately 5 million ounces per year, the Company expects to significantly increase silver production over the next few years. “I am very pleased that this agreement could be signed,” stated Americas Gold and Silver President & CEO Darren Blasutti. “Through extensive deliberations with senior Mexican ministers, certain union representatives, the will of our workers and the community and the President of Mexico, the agreement is a significant step to ensure the long-term stability of the operations by its signatories. I would like to personally thank all parties involved including our employees and representatives in Mexico, the Mexican and Sinaloa governments, the people of Cosalá, and the organizers of numerous petitions and rallies who have all played important roles in providing a long-term solution for the benefit of the Cosalá Operations. The Company is eager to get the operation ramped-up for all to benefit from the current strong silver, zinc and lead prices.” About Americas Gold and Silver Corpora...