Las Cuevas Mine in San Luis Potosi, was the largest underground mine in Mexico, producing approximately 3.24 million metric tons per annum (mmtpa) of Run-of-Mine (ROM) in 2021. The Las Cuevas Mine is owned by Globe Metals & Mining Ltd. The second largest underground mine with an estimated 3.22 mmtpa of ROM and primarily producing copper (14,812.4 thousand ounces), was the Santa Elena Mine (Mexus Gold) located in Sonora. The Santa Elena Mine (Mexus Gold) is owned by Mexus Gold U.S..
Saucito Mine located in Zacatecas was the third-largest mine, the Velardena Project located in Durango was the fourth-largest mine, and the Fresnillo Mine located in Zacatecas was the fifth-largest mine, with an estimated ROM production of 2.62 mmtpa, 2.39 mmtpa and 1.96 mmtpa, respectively, in 2021. Primarily, the Saucito Mine produced approximately 41.06 thousand tonnes of zinc, the Velardena Project produced approximately 80.52 thousand tonnes of zinc, and the Fresnillo Mine produced approximately 32.67 thousand tonnes of zinc in the year 2021. The Saucito Mine is owned by Industrias Penoles SAB de CV which is due to operate until 2026, the Velardena Project is owned by Industrias Penoles SAB de CV which is due to operate until 2035 and the Fresnillo Mine is owned by Industrias Penoles SAB de CV which is due to operate until 2028.
The five largest underground mines, i.e., Las Cuevas Mine, Santa Elena Mine (Mexus Gold), Saucito Mine, Velardena Project, and Fresnillo Mine, cumulatively produced approximately 13.43 mmtpa of ROM in 2021.
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