Loading ...Torex Gold (TSX: TXG) plans to invest between $390 million and $440 million in its flagship Media Luna gold project in Mexico this year to speed up development, with commercial production anticipated in late 2024.
Delivering a first quarter update, the Canadian miner noted that total upfront expenditures tied to Media Luna were unchanged at $874.5 million.
President and chief executive officer Jody Kuzenko, said the project was 15% complete by the end of 2022, adding that work was expected to ramp-up significantly in the months ahead.
She added that 2023 is shaped to be the peak year of spending in Media Luna, which is part of the company’s Morelos Complex.
Torex Gold to spend up to $440 million on Media Luna project