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(Kitco News) – Fortuna Silver (NYSE: FSM) (TSX: FVI) announced Monday that Mexican Federal Administrative Court has ruled in favor of Minera Cuzcatlan, Fortuna’s Mexican subsidiary, and re-instated the 12-year environmental impact authorization (EIA) for the San Jose mine.
According to Fortuna, on January 2, 2023, Minera Cuzcatlan received written notice of a resolution issued by the Secretaria de Medio Ambiente y Recursos Naturales (SEMARNAT) which annulled the 12-year term of the EIA for the San Jose Mine and required SEMARNAT to re-assess it.
Minera Cuzcatlan subsequently initiated legal proceedings in the court to contest and revoke the annulment of the EIA and obtained a permanent injunction to protect its operations pending the decision of the court.
The company said that in its ruling, the court dismissed the allegations of SEMARNAT contained in the annulment resolution.
“The San Jose mine is in full compliance with all material environmental laws and continues to operate under the terms of the EIA. The decision of the court is subject to appeal by SEMARNAT, and if appealed, the permanent injunction that the company already has will remain in effect,” it added.
The company’s San Jose mine, located in the Taviche Mining District, Oaxaca, Mexico, produces silver and gold. In 2022, the mine produced 5.8 million ounces of silver and 34,124 ounces of gold.
Fortuna Silver Mines is a Canadian precious metals mining company with five operating mines in Argentina, Burkina Faso, Côte d’Ivoire, Mexico, and Peru.