Sierra Madre Receives Antitrust Approval for Del Toro Mine Acquisition in Mexico
Sierra Madre Gold and Silver Ltd. has received approval from Mexico's antitrust agency, COFECE, for its acquisition of the Del Toro Silver Mine. The company is now positioned to finalize the transaction.
Sierra Madre Gold and Silver Ltd. has secured approval from Mexico's antitrust authority, the Federal Economic Competition Commission (COFECE), for its planned acquisition of the Del Toro Silver Mine located in the Chalchihuites District.
This regulatory clearance is a key milestone, validating the company's strategy to build a portfolio of producing silver and gold assets in Mexico, according to CEO Alex Langer. With COFECE's approval, Sierra Madre is poised to complete the acquisition and proceed with exploration work ahead of a potential restart of the Del Toro mine.
Upon closing, Sierra Madre will operate both the Del Toro mine and its existing La Guitarra mine, where a two-stage expansion aims to double throughputs by mid-2027. The restart of Del Toro operations is slated for mid-2027, with initial production anticipated in mid-2028.
The Del Toro mine is a permitted, past-producing underground facility for silver, gold, and lead. It operated between 2013 and 2019 and features three underground centers with over 62.5 km of development. The site includes a processing plant with a capacity of 3,000 tonnes per day, along with sulphide and oxide flotation circuits and a dry-stack tailings facility.