Metallica Resources
Encyclopedia
Metallica Resources Inc. was a Canadian based mineral and gold mining
company.
Metallica Resources was a publicly held Canadian mineral exploration and development company with a geographic focus in the Americas. The Company had an ownership interest in a gold project at Cerro de San Pedro
Mexico. This project had generated legal challenges and concerted opposition by local citizens and organizations across Mexico and North America. The concerns were that the open-pit cyanide leach-pit process used by the project would produce irreparable harm to the environment and historical patrimony of this region in Mexico. Over the years, Mexican courts have suspended or revoked various permits for Metallica's Cerro de San Pedro project. There were fourteen cases before the Mexican courts awaiting resolution. The Cerro de San Pedro case was also being reviewed by the Commission for Environmental Cooperation (CEC). In addition, the Company had a significant copper-gold project in Chile. Metallica's corporate goal was to build shareholder value through growth of its existing assets and pursuit of quality investment opportunities.
The company was acquired by New Gold Inc., and delisted from the Toronto Stock Exchange
effective July 4, 2008.
Gold mining
Gold mining is the removal of gold from the ground. There are several techniques and processes by which gold may be extracted from the earth.-History:...
company.
Metallica Resources was a publicly held Canadian mineral exploration and development company with a geographic focus in the Americas. The Company had an ownership interest in a gold project at Cerro de San Pedro
Cerro de San Pedro
Cerro de San Pedro is a town and municipality in the Mexican state of San Luis Potosí. The town started as a mining town for gold and silver. It was the founding town of the state, and its figure is prominent in the state's coat of arms. , the population was 95.-Location:The village is located in...
Mexico. This project had generated legal challenges and concerted opposition by local citizens and organizations across Mexico and North America. The concerns were that the open-pit cyanide leach-pit process used by the project would produce irreparable harm to the environment and historical patrimony of this region in Mexico. Over the years, Mexican courts have suspended or revoked various permits for Metallica's Cerro de San Pedro project. There were fourteen cases before the Mexican courts awaiting resolution. The Cerro de San Pedro case was also being reviewed by the Commission for Environmental Cooperation (CEC). In addition, the Company had a significant copper-gold project in Chile. Metallica's corporate goal was to build shareholder value through growth of its existing assets and pursuit of quality investment opportunities.
The company was acquired by New Gold Inc., and delisted from the Toronto Stock Exchange
Toronto Stock Exchange
Toronto Stock Exchange is the largest stock exchange in Canada, the third largest in North America and the seventh largest in the world by market capitalisation. Based in Canada's largest city, Toronto, it is owned by and operated as a subsidiary of the TMX Group for the trading of senior equities...
effective July 4, 2008.