en.Wedoany.com Report on Mar 28th, A significant transaction has recently taken place in the Mexican mining sector. North Bay Resources has signed a binding letter of intent to acquire Bendito Resources for $25 million, with the transaction being debt-free.

This acquisition will cover all assets of Bendito Resources, primarily located in the state of Sonora, aiding North Bay Resources in expanding its operations in northern Mexico.

North Bay Resources' acquisition strategy aims to consolidate projects near Hermosillo with logistics access to the United States, thereby enhancing its position in the Mexican mining industry. Among these, the Oposura project is fully permitted, with an expected daily production capacity of 1,000 tons, and is ready to commence construction across a 908-hectare area. The project has completed 308 drill holes and is equipped with mining and milling facilities with a daily processing capacity of 500 tons.

Additionally, the asset portfolio includes the Alacran project, spanning 5,433 hectares and in an advanced exploration stage, located approximately 17 kilometers from the Buenavista mine operated by Grupo México. In Chihuahua, the Promontorio project covers 10,699 hectares and is also in an advanced exploration stage. Other assets such as Tecolote, Telix, San Agustín, and Panchita are included, though the Sara Alicia project is not part of the deal due to existing exploration commitments, which the company is currently negotiating.

North Bay Resources' expansion in Mexican mining is part of its international growth strategy. In January 2025, the company increased its stake to 70% in the Bishop Gold Mill gold mine in California, USA, through an agreement. This facility has a daily processing capacity of 96 tons. The company is optimizing its portfolio by diversifying assets to capitalize on opportunities in the Mexican mining sector, leveraging its resources, infrastructure, and market proximity.