In production for about one year is the Bismark zinc mine owned by Mexico’s largest mining corporation, Grupo Penoles, Cyprus Minerals (NYSE), and Mexican venture capital company Promociones Industrials Banamex.
Situated in the state of Chihuahua, the mine cost about US$63 million to develop. Identified were reserves of 8.5 million tonnes of zinc, lead and silver mineralization which, at the forecast rate of production, would give the mine a life of 13-15 years.
Penoles and Cyprus each have a 40% stake in the operation, with Banamex owning the remaining 20% interest.
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