Two well known mines are set to re-open after long periods of inactivity.
In Mexico, the San Martin Mine, located in the northern state of Zacatecas, will resume operation after an 11-year worker strike. The mine is believed to hold as much as 17 million tons of zinc, silver, lead, copper and gold. According to a statement by mine owners Grupo Mexico, the mine will require an investment of about $77 million to get up and running after the long layoff.
In Australia, the government has begun its search for a company to re-open the Ellendale Diamond Mine, which has been dormant since 2015.
The mine was previously operated by Kimberly Diamond Company before ending up in government control. It was the main supplier of yellow diamonds to Tiffany & Co. and was responsible for about half of the world’s supply of the rare stones.
According to statements by government officials, a decision on a new operator is expected early in 2019.