Australian junior base and precious metals miner Azure Minerals told its shareholders on Monday that it was reviewing its Mexican mines, which include the Oposura zinc-lead-silver project and the Alacrán silver-gold-copper mine.
The company noted in a statement to the Australian Stock Exchange that the review would help the company determine its sale options of these assets that could include de-merger or a full or partial sale.
Azure, which is currently focusing on its latest project—the Andover nickel-copper mine in Pilbara, Western Australia, will continue to invest in this mine.
According to Tony Rovira, managing director, Azure, the miner’s new approach towards its Mexican mines is the result of several “unsolicited approaches from numerous parties” who have expressed their interests in acquiring or operating these mines. He added that Azure viewed this interest as an opportunity to simultaneously advance its Australian and Mexican assets.
The Oposura project, located in Mexico’s Sonora province contains 3.1mn mt of mineral resources graded at 5pc zinc, 2.7pc lead, and 18g/t silver. The company has indicated that the mine has the capacity to produce 19,000mt of zinc per year and 10,00mt of lead.