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Argonaut Gold suffers permitting setback for San Antonio project

Mexico's environmental authority, SEMARNAT, denied the environmental impact assessment for Argonaut Gold Inc.'s San Antonio gold project in Baja California Sur, Mexico, according to a Dec. 16 release.

The decision came months after the company received a favorable ruling from the federal court of appeals in a lawsuit relating to the assessment.

According to the statement, SEMARNAT required further information covering the potential identification, description and impacts to the environment; additional information on the construction, operation and closure plans; and additional input regarding the impact on the local aquifer.

Argonaut Gold, meanwhile, believes the requested information is readily available and that it has the ability to respond swiftly.

The company is reviewing alternatives including legal options, the possible refiling of a revised assessment and continuing dialogue.