Torex Gold Resources Inc. (TSX: TXG) is an intermediate Canadian gold producer engaged in mining, developing and exploring our wholly-owned 29,000 hectare Morelos Gold Property in the highly prospective Guerrero Gold Belt, located 180 kilometres southwest of Mexico City. The Company is based out of Canada, with our Corporate Office located in Toronto, Ontario.
Our Company
Torex was the largest gold producer in Mexico in 2023. As of year-end 2023, our workforce was made up of more than 1,200 direct employees and nearly 3,400 contractors. We are proud that 99% of our workforce at site is from Mexico, with approximately 70% from Guerrero State.
Our principal asset, the Morelos Complex, includes the El Limón Guajes (“ELG”) Mine Complex, which is comprised of our El Limón and El Limón Sur open pits, our ELG Underground mine, and our processing plant, which commenced commercial production on April 1, 2016.
We are also growing the future of our mining operations in Mexico through our Media Luna Project, located seven kilometres from ELG. Media Luna is an underground deposit that primarily contains gold, copper, and silver mineralization, located on the south side of the Balsas River. The Media Luna Project was approved by our Board of Directors in March 2022 and construction is well underway, with first production expected in Q4 2024 and commercial production anticipated in Q1 2025. With this investment, we will extend the life of the Morelos Complex through at least 2033 and lay a firm foundation for the future growth plans of Torex.
Our Morelos Property has the potential to provide significant future opportunities beyond ELG and Media Luna, with 75% of the property currently unexplored and with multiple, drill-ready exploration targets identified. In addition to realizing the full potential of the Morelos Property, we are seeking opportunities to acquire assets in the Americas that enable profitable and productive geographic diversification.
At the heart of Torex Gold is a deep commitment to building a mining company with values – one that delivers value for our shareholders in a way that embraces innovation and makes a positive difference in people’s lives.