{
  "id": 12445330,
  "title": "Discovery silver project clears key Mexico hurdle",
  "url": "https://urgent.news/2026/10/06/discovery-silver-project-clears-key-mexico-hurdle",
  "topic": "business",
  "section": "Business",
  "published": "2026-10-06T14:48:40.000Z",
  "source": {
    "name": "Mining.com",
    "slug": "mining-com",
    "url": "https://www.mining.com/discovery-silver-project-clears-key-mexico-hurdle/"
  },
  "original_language": "en",
  "account": "Discovery Mining's Canadian subsidiary, Discovery Mining (TSX: DSV, US-OTC: DSVSF), has received crucial environmental and land-use permits from Mexico, paving the way for its Cordero silver project. Mexico's environmental agency, SEMARNAT, granted the environmental impact assessment and Change of Land Use permit, fulfilling the federal environmental approval process. Nevertheless, Discovery still needs to finalize development planning and financing before construction can commence.\n\nThe company has been refining Cordero's February 2024 feasibility study to incorporate current capital and operational expenses, as well as exploring the feasibility of using natural gas or grid power for electricity. Discovery has also been collaborating with local water-treatment plant operators to upgrade the facility.\n\nNational Bank Financial's mining analyst Rabi Nizami highlighted the significance of the permit approval, stating that it will make Cordero more financeable and strategically valuable for Discovery. Analysts at SCP Resource Finance had previously expected the permits, as Mexico has been accelerating the processing of mining permits. SCP raised its price target for Discovery by $1.20 to C$13.80 after adjusting the multiple it applies to Cordero.\n\nBMO Capital Markets has determined that the permits mark the final major hurdle for Cordero, estimating production to commence in the second half of 2029. BMO values Cordero at $2.73 billion, utilizing a long-term silver price of $47 per oz., and rates Discovery as an outperform with a C$16 target. Scotiabank, valuing Cordero at C$3.4 billion or 32% of its asset value estimate, anticipates an updated feasibility study using current metals prices might reveal \"meaningful upside\" to the project's economics.",
  "summary": "Mexico’s environmental department approval completed the project’s federal environmental approval process.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}