Irish mining company gets Mexican licence

Minco PLC said it has been issued a licence to extract the silver-rich tailings contained within La Laguna Zacatecana in Mexico.

Formerly Irish Marine Oil, the Dublin-based company is headed by John J Teeling.

Teeling is also Executive chairman of Africal Diamonds plc which recently celebrated a diamond find in the Orapa area of Botswana.

Minco's licence is for 20 years and entitles Minco to extract six million cubic metres of tailings from the lake.

The Laguna project is located east of the municipality of Guadalupe, Zacatecas State, and contains gold, silver and mercury tailings.