Fortuna Silver Mines (NYSE: FSM) will appeal an extension ruling at its San Jose Mine, located in Oaxaca, Mexico.
Earlier this month the company was denied an extension for its environmental impact authorization by the the Secretaría de Medio Ambiente y Recursos Naturales (SEMARNAT).
“The San Jose mine is currently operating under the protection of the Mexican courts which allows the continued operation of the San Jose mine beyond the expiry date of the EIA,” wrote the company. “The company believes that it is fundamentally in compliance with all material aspects of the EIA and is entitled to an extension. The company is continuing to work with authorities to resolve this matter.”
Fortuna Silver Mines Inc. is a Canadian precious metals mining company with four operating mines in Argentina, Burkina Faso, Mexico and Peru, and an advanced development project in Côte d’Ivoire.
The San Jose Mine has a capacity to 3,000 tonnes per day. In 2020, the mine produced 6.2 million ounces of silver and 37,805 ounces of gold.