As of 2020, Torex was the second-largest gold producer in Mexico. Our workforce is made up of more than 900 direct employees and approximately 1,600 contractors. We are proud that 99% of our workforce at site is from Mexico, with 60% from Guerrero State.
Our principal assets include the El Limón Guajes (ELG) Mine Complex, which is comprised of our El Limón, Guajes and El Limón Sur open pits, our El Limón Guajes Underground Mine (including zones referred to as Sub-Sill and El Limón Deep), and our Processing Plant, which started commercial production on April 1, 2016.
We are also growing the future of our mining operations in Mexico through our Media Luna Project, which is an advanced-stage development project located seven kilometres from ELG. The Media Luna Project was approved by our Board of Directors in March 2022. The results of the feasibility study for the Project were included in an updated Technical Report for our Morelos Complex, which was released on March 31, 2022. The updated Technical Report includes an integrated life of mine plan and economics for both the ELG Mine Complex and the Media Luna Project.
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.