LUCA MINING’S RISE FROM POTENTIAL TO PERFORMANCE
LUCA MINING’S RISE FROM POTENTIAL TO PERFORMANCE
Luca Mining stands today as an increasingly recognised name among North America’s emerging mid-tier mining companies, combining Canadian leadership, Mexican operational depth and a clear commitment to unlocking long term value across two highly strategic assets. With full ownership of its Tahuehueto gold project in Durango and the Campo Morado base metals operation in Guerrero, the company has positioned itself at the intersection of precious and critical minerals at a time when both categories play a decisive role in global economic resilience. The organisation has undergone a meaningful evolution during the past eighteen months, marked by operational stabilisation, new partnerships and a refreshed executive leadership team that aims to build Luca Mining into a reliable and competitive supplier of gold, silver, zinc, copper and lead for years to come.
SMITH
LUCA MINING PROJECT DIRECTED BY: GARY
The cornerstone of the company’s story is its dual asset base in Mexico, a jurisdiction with a rich centuries old mining culture and a workforce whose expertise has supported some of the world’s most enduring extraction projects. Tahuehueto, Luca’s northern gold project, reflects the classic profile of a high potential deposit in an underexplored district. Situated in north western Durango, the site contains a corridor of structurally controlled mineralisation hosting gold with associated silver, lead and zinc. The company has been steadily advancing Tahuehueto toward more consistent production, investing in plant optimisation, underground development and the kind of incremental improvements that are fundamental to building a long life mine. The vision for Tahuehueto is one of disciplined progress, creating a site capable of operating at stable throughput levels while maintaining flexibility for future expansion and exploration. With gold continuing to hold global relevance both as a financial hedge and a strategic asset, this project forms a reliable foundation for Luca’s growth ambitions.
Complementing this is Campo Morado, Luca’s operating base metal mine located in Guerrero. Campo Morado has long been recognised for its polymetallic potential, with zinc as its primary revenue driver. Current estimates place it among Mexico’s six largest zinc producers, highlighting its significance within a sector increasingly shaped by the global shift to electrification. Zinc remains an essential component of galvanisation and battery technology, and its role in renewable energy infrastructure positions Campo Morado at the forefront of emerging supply chains. The mine’s underground workings, flotation plant and associated logistics network provide the company with the ability to generate sustained production volumes while refining operational efficiency with each passing quarter.
Campo Morado
With more than two decades of experience in the mining sector, CoMinVi has established itself as one of the leading underground mining contractors in Mexico. Its service portfolio includes the development, preparation, and exploitation of mineral deposits, as well as the construction of mining infrastructure. Guided by a corporate philosophy centered on safety and quality, the company has built a reputation grounded in results and professionalism.
Its participation in the Campo Morado Project— one of Luca Mining’s strategic assets in the state of Guerrero—represents a significant chapter in CoMinVi’s recent evolution. From the outset, the main objective was to support the reopening of the mine through the development, preparation, and exploitation of the existing mineral resources, substantially surpassing in 2025 the development, fortification, and production targets assigned to CoMinVi. Achieving these results has been key to strengthening the project’s operational stability and long-term growth.
Reopening an operation after a long period of shutdown involved major technical and logistical challenges, but also the opportunity to rebuild processes under high standards. For CoMinVi, this experience has translated into a client–contractor relationship based on continuous collaboration, where teamwork and a safe work environment have been essential to advancing efficiently. Among the strengths that have most contributed
of this is supported by a corporate vision focused on building long-term partnerships.
Developing Campo Morado requires short- and medium-term operational continuity, as well as the capacity to prepare and unlock the full potential of the deposit. CoMinVi has addressed these challenges through a highly committed workforce, state-of-theart equipment, and a management system focused on safety and results. This commitment is reflected in concrete technical solutions such as improved productivity and control in drilling and blasting through the use of long-hole drilling systems, as well as enhanced quality in development and preparation works.
Safety, a central pillar for CoMinVi, has been reinforced this year through the implementation of the Critical Risk Management System (CCRM). This model allows the company to evaluate, identify, and eliminate critical risks. By standardizing controls and promoting a preventive culture, the CCRM directly contributes to a safer and more sustainable work environment for all collaborators involved in the project.
Looking ahead, CoMinVi seeks to consolidate its role as a strategic ally to Luca Mining, supporting the evolution of the project with high productivity indicators, a solid safety culture, and a long-term vision focused on operational continuity. True to the conviction expressed in its slogan, “Our Strength is Our People,” the company will continue driving the project’s development through the commitment, expertise, and collaborative work of its teams, united
One of the most notable developments at Campo Morado in recent months has been Luca Mining’s engagement of Cominvi S.A. de C.V. as a strategic mining contractor. Cominvi is widely regarded as one of Latin America’s most respected underground mining specialists. Its portfolio includes decades of work across complex geological environments, where precision, safety and productivity are essential. Bringing Cominvi into Campo Morado signals a deliberate shift by Luca Mining toward operational excellence, tapping into a partner with deep technical capability to elevate development cycles, improve ground support, enhance stope sequencing and ensure equipment utilisation reaches best practice levels. The partnership underscores an understanding that growth is not only a matter of adding tonnes or drilling new zones but of embedding operational consistency and measurable performance improvements. The decision aligns with a broader industry trend that sees mining companies partnering with experienced contractors to optimise production and better manage cost structures.
The collaboration has already brought a renewed sense of momentum to Campo Morado. Cominvi’s extensive history in underground extraction across Mexico means the company brings both technical fluency and a strong culture of safety, aligning with Luca Mining’s long term plan to ensure employee wellbeing while steadily increasing productivity. In a period where operational volatility can erode investor confidence, Luca’s move to partner with a proven contractor sends a clear signal about its ambition to strengthen the reliability of its output. The approach emphasises thoughtful planning, integration of new technologies and an emphasis on continuous improvement throughout the site.
LUCA MINING
Alongside these operational enhancements, Luca Mining has introduced new executive leadership tasked with accelerating its transformation. The appointment of a new Chief Executive Officer in mid 2024 marked an important milestone for the company. Bringing in a CEO with experience in mine optimisation, financial discipline and stakeholder engagement reflects an organisational commitment to sharpen strategic execution. Leadership transitions of this nature often signal a company preparing for its next phase of development, combining renewed energy with a refined corporate direction. Under the new CEO, Luca Mining has emphasised clear communication with investors, transparent reporting of operational milestones and a steadfast focus on generating sustainable value from its assets. The leadership team has demonstrated awareness that the mining sector is judged not only by production figures but by the clarity and credibility of its long term plan.
The transformation of Luca Mining is also shaped by the wider context of mineral demand. The world is entering an era where metals such as zinc, copper and silver are fundamental to decarbonisation frameworks. Renewable energy installations, electric vehicle production, energy storage systems and grid modernisation all require dependable supplies of these materials. Campo Morado’s zinc and copper resources position Luca as part of this evolving economic architecture. Silver, found in both Tahuehueto and Campo Morado as a by-product, is an increasingly important component in solar technology and industrial electronics. Gold, meanwhile, maintains its relevance as an anchor of financial stability, particularly during periods of economic uncertainty. Luca Mining’s portfolio therefore captures a cross section of mineral categories aligned with the global economy’s most essential growth drivers.
The company’s leadership recognises that long term success in this sector depends on more than geological resources. Luca Mining has made clear commitments to building strong relationships with local communities, engaging openly with regulatory authorities and ensuring operations are conducted responsibly. Mexico’s mining sector is deeply integrated into local economies, and companies that demonstrate transparency, environmental stewardship and community partnership often enjoy more stable long term prospects. Luca has emphasised initiatives that support local employment, encourage skills development and ensure operations contribute positively to surrounding regions. These commitments help build trust and strengthen the social foundation upon which long life mines depend.
The future of Luca Mining will be defined by its ability to transform potential into performance. Tahuehueto’s continued ramp up offers the opportunity to deliver consistent gold production at a time when global supply remains constrained. The site’s geological setting provides room for future exploration that could extend mine life or increase throughput. With careful development planning and disciplined operational management, the project can mature into a strong, cash generating asset that anchors the company’s precious metals strategy.
Campo Morado, meanwhile, stands as Luca’s engine of steady production. With Cominvi now embedded into the site’s core operations, the company is targeting more efficient ore extraction, optimised plant performance and stronger metallurgical results. Improvements in recoveries, throughput and cost control can significantly strengthen the mine’s contribution to the company’s financial performance. The base metals produced at Campo Morado align strongly with industrial demand trends, providing Luca with an asset that has both present day value and long term strategic relevance.
From an investor perspective, Luca Mining represents a company in the midst of an important transition. It is moving from a phase defined by development challenges and operational variability to one centred on stability, optimisation and value creation. The company’s willingness to partner with experienced contractors, invest in leadership and communicate clearly with the market suggests an organisation seeking to build not only production volumes but credibility and consistency. Mining companies that successfully manage this transition often emerge as more mature and resilient entities, capable of delivering long term returns even amid industry cycles.
It is also clear that Luca Mining is aware of the importance of disciplined capital allocation. In an industry where timelines are long and operational costs can be unpredictable, the ability to manage financial resources with precision is essential. The company’s recent steps indicate that it aims to strike a balance between reinvestment in operations, prudent growth and maintaining a stable financial footing. This approach positions Luca to benefit from the upside of increasing metal prices without exposing itself to unnecessary risk.
MINING LUCA MINING
Looking ahead, the combination of a strong asset base, experienced partners and renewed leadership creates a compelling narrative for Luca Mining. The company is building a reputation as an organisation capable of executing on its plans, improving the operational performance of its mines and maintaining responsible practices as it grows. Its dual position within both precious and critical minerals markets provides a level of diversification that is increasingly valuable in an unpredictable global economy.
Investors, employees, communities and industry stakeholders will be watching closely as the company continues to strengthen Tahuehueto’s production profile and refine operations at Campo Morado. The fundamentals of the business are solid. The strategic direction is clear. The partnerships being formed are credible and aligned with international best practices. And the leadership is focused on ensuring Luca Mining develops into a well managed, competitive and respected contributor to the mining sector in Mexico and beyond.
Luca Mining’s story is one of potential being steadily converted into performance. It is a company committed to building long term value through operational excellence, responsible stewardship and strategic clarity. With two wholly owned Mexican assets, a dedicated workforce and a leadership team focused on disciplined growth, the organisation stands well positioned to deliver a strong and sustainable future. As global demand for both precious and industrial metals continues to rise, Luca Mining is taking the steps necessary to ensure it plays a meaningful role in meeting that demand, strengthening its position within the marketplace and creating lasting value for all those connected to its progress.
www.lucamining.com
