Canadian intermediate gold producer Torex Gold Resources has commenced commercial production at the Media Luna mine in Mexico, after completing the development phase of the Media Luna project.
Torex Gold invested $55.5m in the Media Luna project during the first quarter of 2025 (Q1 2025). The overall construction of the Media Luna mine was nearly complete (98%) by the end of the first quarter, showing progress from 94% at the quarter’s start.
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The most significant elements of the surface construction still to be completed include the commissioning of the paste plant and the integration of the upgraded power infrastructure with the national grid.
The completion of the paste plant and the paste distribution system, which are expected later this quarter, will support the increase in mining rates at the processing plant.
The installation of updated power infrastructure is complete, and the national energy regulator, Comisión Federal de Electricidad, is conducting final checks before integrating the 230kV transmission line into the national grid. This step is expected to align with the commissioning of the paste plant.
Torex president and CEO Jody Kuzenko said: “The delivery of Media Luna and our transition to become both a gold and copper producer, substantially within budget and schedule, demonstrates Torex as not only a consistent and reliable operator but also a company capable of achieving excellence in the execution of major and complex projects.
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By GlobalData“Notably, our strong operational performance through the build period, supported by a backdrop of record gold prices, allowed us to accomplish what is largely unheard of in the industry – funding the project almost entirely through the generation of cash from our existing operations at ELG [El Limón Guajes]. The modest level of net debt accumulated through the build period will be repaid quickly as the company pivots to positive free cash flow generation in the middle of 2025.”
After integrating the flotation circuits into the processing plant, the project team is working on escalating the underground mine’s production to reach the targeted throughput of 7,500 tonnes per day (tpd) by mid-2026.
The underground development and construction also reached 98% completion at the end of the quarter, with the Guajes Tunnel conveyor commissioned and transporting ore to the processing plant.
The surface and underground operational readiness activities are also nearing completion, with a focus on the recruitment and training of employees for the Media Luna mine and modified process plant.
More than 200 employees were transferred and more than 160 were recruited, with a focus on local hiring, to support the new operational requirements. In March 2025, Torex completed the four-week tie-in period for the Media Luna project, marking the first production of metal-rich copper concentrate.
