Gold Resource Corporation's Aguila Project in Mexico connects to power grid cutting environmental emissions

Gold Resource Corporation (NYSEAMERICAN:GORO) said Wednesday that its El Aguila Project in Oaxaca, Mexico had connected successfully to the Comisión Federal de Electricidad’s (CFE) power grid.

Prior to this connection, the Aguila Project operated wholly from electricity generated from more expensive and higher emission diesel fuel.

The federal electricity commission’s new power line improves local infrastructure in Mexico, allowing for first time access to electricity to approximately 25,000 families. Future expansion along the route is expected over time. 

READ: Here’s why the consolidation in the gold mining industry is far from over

The company said the ability to connect to the power line “substantially reduces its environmental impact” by reducing local carbon emissions by more than 90 tonnes.

Gold Resource Corporation is a gold and silver producer, developer and explorer, with operations in Oaxaca, Mexico and Nevada in the United States.

As of December 31, 2018, proven and probable reserves at the Oaxaca mine totaled 3,077,200 tonnes grading 1.82 grams per tonne gold, and 127 grams per tonne silver, equating to 180,300 gold ounces and 12,591,300 silver ounces.

The miner also said it has returned $111 million to its shareholders in monthly dividends since commercial production started in July 2010. The company offers shareholders the option to convert cash dividends into physical gold and silver and take delivery.

Contact Uttara Choudhury at [email protected]

Follow her on Twitter: @UttaraProactive 

Story by ProactiveInvestors