- Equinox Gold (TSX:EQX) announced the indefinite suspension of operations at its Los Filos mine in Guerrero, Mexico
- The decision follows failed negotiations towards a land access agreement with the community of Carrizalillo
- Equinox Gold operates gold mines in Canada, Brazil and the United States and is actively pursuing a path to one million ounces of annual production
- Equinox Gold stock has added 16.27 per cent year-over-year but remains down by 0.92 per cent since 2020
Equinox Gold (TSX:EQX) announced the indefinite suspension of operations at its Los Filos mine in Guerrero, Mexico, following failed negotiations towards a land access agreement with the community of Carrizalillo.
Discussions with all three communities local to the project began in November 2023, with Carrizalillo being the lone dissenter. Mezcala and Xochipala signed long-term agreements in January 2025.
The agreements, according to Tuesday’s news release, ensure “the economic and investment conditions necessary for continued operations at the Los Filos mine, including the proposed construction of a new 10,000 tons-per-day carbon-in-leach processing plant to increase gold recoveries from higher-grade ore.”
Los Filos produced 170,369 ounces of gold in 2024 at all-in sustaining costs of US$2,185 per ounce. The property is estimated to house reserves of 5,354 koz at 0.86 grams per ton (g/t) gold and resources of 7,897 koz at 0.75 g/t gold.
Equinox took the conservative approach based on the tenor of the negotiations with Carrizalillo and did not include production from Los Filos in its 2025 guidance report.
About Equinox Gold
Equinox Gold operates gold mines in Canada, Brazil and the United States and is actively pursuing a path to one million ounces of annual production. The company produced 621,870 ounces of gold in 2024.
Equinox Gold stock (TSX:EQX) is down by 2.43 per cent on the news trading at C$9.65 per share as of 10:02 am ET. The stock has added 16.27 per cent year-over-year but remains down by 0.92 per cent since 2020.
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(Top image: Equinox Gold)
