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Vancouver-based SilverCrest Metals has completed the last permanent connection of a 33 kV power line to the Las Chispas mine in the state of Sonora, Mexico.
The company commissioned Las Chispas at the end of the third quarter and declared the start of commercial production on November 1.
Mexico’s state-owned company CFE has completed the remodeling of a 27 km section of the line and connected it to the 54 km section owned by subsidiary SilverCrest.
The miner said in a statement that Las Chispas is now fully connected to the electricity grid at a nominal capacity of 7.6 MW, which should be sufficient for the life of the mine.
“We are delighted that the line is complete and fully energized to ensure permanent electricity to Las Chispas. We look forward to wrapping up a landmark year that included construction on time and on budget, mine and mill start-up, declaration of commercial production, debt refinancing and now the release of the inaugural report of the Task Force on Weather-Related Finances. Disclosure [TCFD] and a document on responsible water management based on the findings of the TCFD,” said Eric Fier, CEO of SilverCrest.
The miner hopes the upgraded line will improve reliability and also replace dirtier diesel production.
SilverCrest refinanced its US$120 million secured project finance facility, of which US$90 million has been drawn, as well as a new US$120 million senior secured credit facility through a consortium of financial institutions consisting of the Bank of Nova Scotia and the Bank of Montreal.
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