Selene, a family-owned perlite deposit located in Sonora state, in the northwest of Mexico, could come into production within the next few years. Mexico is one of the world’s leading perlite producers.
“Historically, this property was claimed by someone else, but the title expired and the lot remained free for many years,” Hector R. Hinojosa-Prieto, a geologist and one of the owners of the deposit, told IM.
Hinojosa-Prieto and his father acquired the mining title and rights in November 2007. Even though the physical land is owned by a local rancher “open for negotiation”, Hinojosa-Prieto explained that the Mexican mining law grants the mining rights to the person who has the mining title.
The geologist underlined that the plan is to find an investor(s) to partner up to bring the deposit Ð which has never been developed - to production. But the family “would also...