*Sinaloa's Secretary of Economy, Ricardo Velarde Cárdenas, met with the Undersecretary of Foreign Trade of the Mexican Government and executives from Oroco Resource to monitor the Santo Tomás mining project in Choix.
*With a total projected investment of $1,103 (corrected) million, the project is expected to boost job creation and economic growth in the region.
Mexico City, March 24, 2025. With the goal of strengthening the attraction of strategic investments to Sinaloa, the state's Secretary of Economy, Ricardo Velarde Cárdenas, and the CEO of Oroco Resource Corp, Craig Dalziel, held a meeting with the Undersecretary of Foreign Trade of the Ministry of Economy of the Government of Mexico, Luis Rosendo Gutiérrez Romano.
During the meeting, the Canadian mining exploration company presented the progress of the Santo Tomás project, located in the municipality of Choix, in the western Sierra Madre mountain range, on the border between Sinaloa and Chihuahua. This copper exploration project began in July 2021 and is currently in its initial phase.
At the conclusion of the meeting, Ricardo Velarde emphasized that the Government of Sinaloa, under the leadership of Governor Rubén Rocha Moya, has worked closely with the company through key initiatives such as the regularization of land registry codes, the connection with the Port of Topolobampo, and the procedures with Semarnat for exploration permits, the Environmental Impact Statement (EIS), and land use. All of this is aimed at promoting strategic investments that generate employment and strengthen community development.
"From the Sinaloa Ministry of Economy, we have supported this project with key efforts that have enabled its advancement, always with a focus on sustainability and social responsibility," he said.
He added that well-executed mining is an ally of economic growth and the well-being of the population, so Sinaloa will continue to promote strategic investments that contribute to the state's development.
Also participating in the meeting were Oroco Resource Corp. executives Ian Graham, President; David W. Rosa, Corporate Secretary; and Ubaldo Trevizo, Chief Operating Officer, as well as Federal Representative Mario Zamora Gastélum.
To date, the Canadian company has invested 258 million pesos in exploration, identifying a mining potential of 4.749 billion pounds of copper for an estimated 20-year exploitation period. The total projected investment for Sinaloa is $1.48855 billion.
The development of this project has generated 100 direct jobs and 20 indirect jobs during the exploration phase. During the construction phase, 1,250 direct jobs and 400 indirect jobs are expected to be created, while the operational phase is estimated to create 800 direct jobs and 1,600 indirect jobs.
The company is currently in the process of obtaining authorization for the MIA from Semarnat (National Seminar on Environmental Impact Assessment) to begin the second phase of exploration. The application was submitted in September 2024, and additional information was sent on March 21, 2025. If approved, the company would invest 292 million pesos in this new phase.
The Government of Sinaloa, through the Ministry of Economy, reaffirms its commitment to promoting responsible and strategic investments that contribute to the state's economic growth and the well-being of its communities.
