Canadian miner to invest in Mexican mines

Photo: Endeavour Silver

Canada’s Endeavour Silver aims to invest $34.3 million in sustaining capital this year. This will include $32.6 million at the company’s two operating mines in Mexico and $1.7 million to maintain exploration concessions and cover infrastructure costs, the company said in a statement.


Endeavour Mining is forecasting a silver production in the range of 4.2 to 4.8 million oz, and a gold production of between 31,000 oz and 35,000 oz this year.


“Our operations outperformed last year with Guanacevi’s production bolstered by higher than anticipated mined ore grades,” said Dan Dickson, the chief executive of Endeavour Silver. “In 2022, our pro-duction outlook is on par with the average of the last three years as we anticipate the grade at Guanacevi to be more in line with our es-timated reserves and we remove the small annual contribution from our El Compas mine, which closed last August.”


Dickson said that in 2022, the company’s efforts will be focused on “managing costs in order to offset the inflationary pressures we are seeing across the industry.”