Overview
La Negra is a long-standing underground silver mine with established infrastructure and a defined production profile, having operated since the 1970s through multiple commodity cycles. Mining operations were restarted privately in 2024, with the mine currently operating at approximately 55% of its 2,500 tonne per day nameplate capacity.
The project comprises is located within the prolific Sierra Gorda silver belt. Despite its long production history, the project has seen limited exploration over the past two decades, highlighting strong potential for resource expansion. Mineralization remains open along strike, at depth, and near surface, with additional regional targets identified.
The operation is a low-cost underground mine utilizing long-hole stoping and room-and-pillar methods. Processing includes three-stage crushing, grinding, and flotation and filtration circuit producing lead -silver, copper-silver and zinc concentrates, with silver primarily reporting to the lead and copper streams.
Location & History
La Negra is located in Querétaro State, a stable, mining-friendly jurisdiction in central Mexico. The project is located approximately 150 kilometres by paved road from Querétaro in the district of Maconi. Electrical power is obtained from the national grid through a 34 kilovolt (kV) line to the process plant and mine facilities.
The property was originally developed and operated by Peñoles with production running concurrently from 1971 to 2001, and later by Aurcana until 2016 after which it was taken private and operated until 2019. Following a period of care and maintenance, mining activities were successfully restarted by a private Mexican company in 2024.
Between 1971 and the end of 2020, the mine produced approximately 14.6 Mt with an average grade of 107 g/t silver, 0.59% lead, 1.95% zinc and 0.66% copper.