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View the New Gold Cerro San Pedro Mine on a Google map.
New Gold's Cerro San Pedro Mine Receives Explosives Permit and Resumes Full Operations.
New Gold have provided a detailed update regarding Cerro San Pedro status.
New Gold Granted Injunction to Temporarily Lift Shutdown Order at Cerro San Pedro Mine, December 14, 2009.
VANCOUVER, Dec. 14 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX-NGD) today announces that it has been granted an injunction
related to the suspension of operations at its Cerro San Pedro mine in Mexico. The court ruling temporarily overturns the
Mexican environmental enforcement agency's order to suspend mining operations at the Cerro San Pedro mine. New Gold's wholly owned
Mexican subsidiary, Minera San Xavier ("MSX"), filed the appeal seeking to overturn the suspension order on December 3, 2009.
Mining operations will recommence at the Cerro San Pedro mine and are expected to continue through the duration of the appeal trial.
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Four weeks ago, one of Mexico s highest courts, the ninth Tribunal of the first circuit, confirmed that an open-pit gold mine in Cerro San Pedro, a village in the Mexican state of San Luis Potosi, is being operated illegally by Minera San Xavier, a subsidiary of the Canadian mining company New Gold.
A similar ruling was issued in October 2005, when the courts found the mine wasviolating several environmental regulations and threatening to contaminate a region occupied by more than 1.3 million people. The court went on to nullify the company s land use permit. However, both the mining company and the federal Ministry of the Environment and Natural Resources (SEMARNAT), who first issued the permit, ignore the ruling and then flouted the courts six months later, in April 2006, when SEMARNAT renewed the permit.
[source: Intercontinental Cry]
VANCOUVER, Dec. 3 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX-NGD) announces an update on its activities to resume mining operations at its Cerro San Pedro Mine. Today, Minera San Xavier ("MSX"), New Gold's wholly owned Mexican subsidiary that holds the mining concessions of the Cerro San Pedro Mine, filed a second appeal related to the suspension of operations.
The first appeal was filed on November 5, 2009 with the Third Federal District Court in Mexico City. That appeal seeks to overturn the Federal Fiscal Administration Court's ruling that ordered SEMARNAT, the Mexican government's environmental protection agency, to cancel the project's Environmental Impact Statement ("EIS"). The court is waiting for SEMARNAT, an associated party, to file its response to this appeal before finalizing the date to commence a trial.
In addition, MSX today filed a separate appeal with the District Court in San Luis Potosi. The objective of the appeal is to overturn the order that required suspension of mining operations as a result of the cancellation of the project's EIS. Based on the advice of its Mexican legal advisers, New Gold believes that claims that the EIS is required to be in place to operate its Cerro San Pedro Mine have no legal basis.
This most recent appeal includes a request for a temporary injunction which would allow the mine to continue operating while the appeal goes to trial and the court hears the arguments in relation to the suspension order. It is expected that a decision on the injunction request will be provided within 10 days. In the event an injunction is not granted, mining operations would remain suspended and the appeal would go to trial where all merits of the case would be heard and a decision made. If the matter is heard in court and the mine suspension is prolonged, New Gold will continue to take all measures necessary to actively safeguard the integrity of the mine, its environment, its employees and residents of the surrounding communities.
...
VANCOUVER, Nov. 19 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX-NGD) is cooperating with Mexican government authorities and pursuing all legal appeals after the
company was notified yesterday that it must suspend mining operations at its Cerro San Pedro Mine, known regionally as Minera San Xavier ("MSX").
Although mining has been suspended, gold recovery operations of existing inventory on the leach pads are continuing.
[Source: NewGold news release November 19, 2009]
As of mid day November 19, New Gold shares are down 15.5%. Based on our original blog, the final drop in price is expected to be closer to 10.5% in a worst case scenario. But New Gold still has an appeal process so I wouldn't write Cerro San Pedro off just yet.
Date: November 18, 2009
An Aljazeera Story available as a YouTube video claims the New Gold mining operations at Cerro San Pedro mine are illegal as a result of a recent court order. New Gold has countered this claim labelling it as misinformation.
The New Gold NI 43-101 Metal Valuation Report on November 17, 2009 showed New Gold shows a Metal Value per Share (MVpSh) of $63.57 USD across of its world deposits. The Cerro San Pedro mine contribution to the world total was $6.70 or roughly 10.5%.
Assuming a worst case scenario whereby Cerro San Pedro was to be permenantly shutdown, impact to New Gold stock price would be approximately 10%.
Mexican Court Orders Immediate Halt to Canadian project more shutdown supporting discussion.
New Gold Background Information regarding Cerro San Pedro web page (viewed November 2009) states:
In response to incorrect information recently disseminated by a Non Governmental Organization based in Mexico and Montreal concerning the
New Gold mining operation in Cerro San Pedro, Mexico, we provide the following news release and background information
VANCOUVER, Nov. 2 /CNW/ - New Gold Inc. ("New Gold") (TSX and NYSE AMEX - NGD) confirms that all permits, licenses,
concessions or authorizations that are required to operate its Cerro San Pedro Mine are valid and in force.
New Gold has filed an appeal to a recent decision of the Federal Court of Fiscal and Administrative Justice in Mexico pertaining to
the process by which the Environmental Impact Statement ("EIS") for the Cerro San Pedro Mine was approved in 1999.
Over the last ten years a small group opposed to the mine has conducted an ongoing series of challenges, appeals and
counter appeals related to the EIS approval process. This latest decision does not affect Cerro San Pedro's other permits,
including its operating permit or its ability to conduct business. ...
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