42/97
  • Pages
  • Editions
01 Cover
02 Welcome Letter / Sections
03 Article & Interview Directory
04 Section 1: Introduction
05 Introduction to Mining in Ontario
06 Government of Ontario Interview
07 Ontario Mining Association (OMA) Interview
08 Canadian Institute of Mining, Metallurgy and Petroleum (CIM) Interview
09 Navigating Uncertainty
10 Ormston List Frawley LLP Interview
11 PDAC Interview
12 Section 2: Production and Development in Ontario
13 Production in Ontario
14 Map of Ontario Mines
15 Newmont Interview
16 Barrick Gold Interview
17 Wesdome Gold Mines Interview
18 Alamos Gold Interview
19 Evolution Mining Interview
20 A New Wave of Ontario Gold Mines
21 Argonaut Gold Interview
22 Equinox Gold Interview
23 Industry Thoughts: Production and Development in Ontario
24 Section 3: Mining Finance
25 Mining Finance and Investment
26 Insights from the Toronto Stock Exchange
27 PearTree Securities Interview
28 Triple Flag Interview
29 Red Cloud Securities Interview
30 IBK Capital Interview
31 Stifel Interview
32 Roth Canada Interview
33 Industry Thoughts: Mining Finance Trends
34 Section 4: Toronto's Global Reach
35 Toronto’s Global Reach
36 Toronto's Global Reach Map
37 Rupert Resources Interview
38 Eloro Resources Interview
39 Industry Thoughts: Global Operations Based in Ontario
40 Eyes on Latin America
41 Torex Gold Resources Interview
42 Minera Alamos Interview
43 Sable Resources Interview
44 Section 5: Junior Exploration
45 Junior Exploration
46 Great Bear Resources Interview
47 Exploring Across Canada
48 O3 Mining Interview
49 Purepoint Uranium Group Interview
50 ALX Resources Interview
51 Industry Thoughts: Gold Juniors Have Their Say
52 Gold Juniors Replacing Depleting Resources
53 Moneta Gold Interview
54 Goldshore Resources Interview
55 Galleon Gold Interview
56 Element79 Gold Interview
57 Signature Resources Interview
58 Section 6: ESG and the Battery Materials Supply Chain
59 Transition Metals on the Rise
60 Conquest Resources Interview
61 Generation Mining Interview
62 Inventus Mining Interview
63 Noble Mineral Exploration Interview
64 The Move to Combat Climate Change Gathers Pace
65 Insights from Onyen Corporation
66 Thorn Associates Interview
67 Leading the Charge
68 Electra Battery Materials Interview
69 Frontier Lithium Interview
70 Industry Thoughts: Entering The Transition Economy
71 The Battery Material Supply Chain
72 ION Energy Interview
73 Clean Air Metals Interview
74 Section 7: Services, Technology and Innovation
75 Engineering, Construction & Consultancies
76 Ausenco Interview
77 Cementation Americas Interview
78 PCL Construction Interview
79 Redpath Mining Interview
80 Technological Advancements & Innovation
81 Industry Thoughts: Canadian Associations
82 EY Interview
83 Maestro Digital Mine Interview
84 Centric Mining Systems Interview
85 Industry Thoughts: OEMs Have Their Say
86 Drone Delivery Canada Interview
87 Sofvie Interview
88 Novamera Interview
89 Industry Thoughts: Paving the Way for ESG Reporting
90 Section 8: Company Profiles
91 Wesdome Company Profile
92 ION Energy Company Profile
93 PearTree Securities Company Profile
94 Ormston List Frawley Company Profile
95 Maestro Digital Mine Company Profile
96 Sofvie Company Profile
97 Credits

Doug Ramshaw, President,

MINERA ALAMOS

"Minera Alamos has operated in the country for approximately 14 years, and we benefit from the fact that our team is Mexican, running operations from the ground."

Can you highlight recent developments at Minera Alamos’ Santana mine?

Santana is a core asset for Minera Alamos and is one of three mines the company plans to build over the next few years. We are in an industry where so many companies focus on the front peak of the Lassonde curve, and there are very few that make their journey across the wilderness that is the orphaned period of the curve, where you are permitting and constructing. We have proudly made this journey, which has not taken particularly long given the short permitting and construction timelines in Mexico. Minera Alamos is now at the far peak of the curve, which is a great differentiator as very few explorers and developers get to be producers. Although six months behind schedule due to delays caused by the pandemic, we are quite proud that we were still able to build a gold mine for US$10 million during the midst of it all.

We are continuing with the ramp up of open pit heap leach operations at Santana as we head toward a commercial production decision, which will be a function of net cash generation and mining rates being at an appropriate and sustainable level. If achieved, we will be set up nicely for 2022, with the hope of starting construction on Cerro de Oro in the latter part of the 2022 or early 2023. We have an aggressive development path and are aiming for this project to come online in 2023, and our third mine, La Fortuna, to come online in late 2024 or 2025.

Mining operations in Mexico have occasionally been targets for cartel activity. Has Minera Alamos faced any issues in this regard?

We have not experienced any operational issues relating to cartel activities, but the key is understanding how to operate in Mexico. Minera Alamos has operated in the country for approximately 14 years, and we also benefit from the fact that our team is Mexican. During the pandemic, with the ports of entry into the US closed off, more petty crimes emerged such as truck and fuel theft. The challenges in the areas where we operate are less about the cartels and more about communities that are really struggling. Minera Alamos has the mission to not only be a good corporate citizen, but also to create opportunities for communities as we develop the country’s resources.

The AMLO government has spoken of taking greater control of electricity provision, which could lead to cost increases. How sensitive are Minera Alamos’ projects to these factors?

Our La Fortuna project is the largest power hog as it is a milling operation, whereas power demand for a heap leach mine such as Santana is much less as the process is not energy intensive. However, La Fortuna is currently not tied to the power grid, and we will only look to connect to the grid some years from now. For us, inflationary cost pressures in Mexico are to some extent mitigated by local currency weakness, roughly 70% of our operating costs are in Mexican pesos.

With regard to permitting restrictions, a moratorium was placed on new exploration claims. The reason for this is that there is a backlog of approximately 20,000 claims that they have to work through before accepting any new claims. We have received EIA permits for two of our three projects from the AMLO government and look forward to working with the government agencies as we enter permitting activities on our third project. The biggest change we have seen under the AMLO government has been the rise of union strength.

What are the expected mine lives for Santana and Cerro de Oro?

We will start something up which is in the 30,000 to 50,000 oz/y range, and then look to scale both mine life and the production profile accordingly. Santana will start out at a six to seven-year mine life, but we have geological visibility on how we can grow the resource, leading to the growth of mine life and the production profile. Any project the company looks at, has to meet two key criteria – can we build it, and if built, can we expand the operation in due course. On the resource defined to-date at Cerro de Oro, mine life is approximately seven years, but there are also strong indicators for expansion.

Next:

Interview: Sable Resources