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FAQ: Apollo Silver's Community Engagement and Access Agreement for Cinco de Mayo Project
TL;DR
Apollo Silver Corp. gains potential access to a major silver deposit in Mexico through community agreements, offering investors exposure to valuable mineral resources.
Apollo Silver Corp. is negotiating a 30-year access agreement with local communities, including annual payments and environmental protections, to develop the Cinco de Mayo mining project.
The agreement promises $50 million in community benefits, local employment, and environmental safeguards, improving economic opportunities while protecting natural resources in Chihuahua, Mexico.
Apollo's Cinco de Mayo project may reveal a new high-grade mineral discovery called the Pegaso Zone, expanding North America's silver resources.
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The main purpose is to regain public support for mining exploration and development at the Cinco de Mayo project, specifically to rescind the property access ban imposed by the Ejido Benito Juárez in November 2012 and establish a long-term access agreement.
The Cinco de Mayo project is located in the state of Chihuahua, Mexico, specifically within the Municipality of Buenaventura.
Apollo Silver Corp. is engaging with elected representatives of the Ejido Benito Juárez, the Municipality of Buenaventura, and other community leaders and groups in the region.
The proposed benefits include approximately US$50 million in total payments over the agreement's duration, environmental value, and preferential opportunities for employment and services in exchange for unrestricted access to the project.
Apollo Silver hopes and anticipates that the Ejido general assembly will be convened in early 2026 to vote on rescinding the access ban and approving the long-term access agreement.
The company commits to hiring ejidatarios (registered Ejido members), their descendants, and community members based on skills and aptitude, and giving preference to local suppliers for food, fuel, transportation, materials, and lodging.
Environmental commitments include detailed hydrogeological studies to ensure no effects on community wells or natural springs, continuous monitoring of water quality and environmental indicators, and strict compliance with all applicable regulations.
The preliminary framework currently under discussion includes a 30-year benefit structure for the Ejido in exchange for access during exploration, development, and mining phases, with an option to extend the agreement term for an additional period.
Informational materials describing a long-term collaboration plan and shared benefits are being distributed to Ejido members, and this community engagement phase is expected to continue through the first months of the new year.
Curated from Noticias Newswire
