The Project involves the optimization and expansion of the El Mochito mine, a 70-year old lead, zinc and silver concentrate mine located near the Municipality of Las Vegas, approximately 88 km southwest of the City of San Pedro Sula, Honduras, Central America. The mining concession for El Mochito encompasses 11,000 hectares in the La Soledad watershed east of the Santa Barbara National Park. The active mine footprint is 200 hectares (approximately 1.8% of the concession). The main infrastructure consists of a shaft-accessed underground mine and a processing plant that produces separate zinc and lead concentrates. Silver, a by-product of the lead and zinc concentrate is sold as percent silver concentrate and not standalone refined silver. Mineralized material is mined by trackless and conventional underground mining methods, transported, partially crushed underground and then hoisted to the surface by a vertical shaft. Over the years, three tailings facilities have been used, two of which have been retired. The remaining active tailings facility has sufficient storage capacity for several future years. Concentrates are trucked daily to Puerto Cortés located 35 km north of San Pedro Sula on the Gulf of Honduras and shipped by ocean freighters once sufficient material has been stockpiled at the port. The Project involves the following elements: 1) installing a new, underground 442-meter rock only hoisting shaft which will shorted the average underground truck hauling distances by fifty percent, increase hoisting capacity, ventilation, services access and mining capacities; 2) upgrading the underground pumping and water management system that reduces costs by reducing the number of pumps, rationalizing pumping columns, and installing an effective water clarification system which will lead to better pump efficiency; and 3) upgrading the crushing circuit, processing plant, and tailings
None of the investment information was available at the moment of the snapshot.