Santacruz Silver Mining Ltd's Comment on Supply Chain
Raw materials were transported to smelting facilities in San Luis Potosi and Zacatecas rather than being smelted locally in the Zimapan area. These materials were trucked to the railhead at Huichapan, located 88 km from Zimapan. At that time, Compania Minera La Llave operated the only smelter in the Zimapan area. Raw materials from the Carrizal mining area were transported by truck to Zimapan, while those from the El Monte mining area were initially moved 10.5 km to Zimapan by donkey until a road was constructed in 1957.
In 1964, Penoles acquired majority stakes in Fresnillo and Compania Zimapan, becoming the primary owner of the property and mining operations. In 2004, Fresnillo entered into a mining and exploitation agreement with Compania Minera Nuevo Monte, S.A. de C.V., granting Fresnillo exclusive rights to exploit the property and operate the El Monte plant. Fresnillo assigned all concession rights and agreements to Minera Cedros in 2007. Compania Minera Nuevo Monte suspended operations and terminated its agreement with Minera Cedros in 2009. That same year, Carrizal Mining entered into a lease agreement with Minera Cedros and conducted extensive underground core drilling from 2011 through 2025 using its own equipment and personnel.
Santacruz Silver Mining Ltd's Comment on Supply Chain
Raw materials were transported to smelting facilities in San Luis Potosi and Zacatecas rather than being smelted locally in the Zimapan area. These materials were trucked to the railhead at Huichapan, located 88 km from Zimapan. At that time, Compania Minera La Llave operated the only smelter in the Zimapan area. Raw materials from the Carrizal mining area were transported by truck to Zimapan, while those from the El Monte mining area were initially moved 10.5 km to Zimapan by donkey until a road was constructed in 1957.
In 1964, Penoles acquired majority stakes in Fresnillo and Compania Zimapan, becoming the primary owner of the property and mining operations. In 2004, Fresnillo entered into a mining and exploitation agreement with Compania Minera Nuevo Monte, S.A. de C.V., granting Fresnillo exclusive rights to exploit the property and operate the El Monte plant. Fresnillo assigned all concession rights and agreements to Minera Cedros in 2007. Compania Minera Nuevo Monte suspended operations and terminated its agreement with Minera Cedros in 2009. That same year, Carrizal Mining entered into a lease agreement with Minera Cedros and conducted extensive underground core drilling from 2011 through 2025 using its own equipment and personnel.
Sources:
Santacruz Silver Mining Ltd 's official press releases and regulatory filings; CSIMarket.com's supply-chain research; and the financial filings and press releases of other companies cited in this report.
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