Torex Gold Acquires Prime Mining in $449 Million Deal
Torex’s $449M acquisition of Prime Mining reshapes Mexico’s gold-silver landscape and adds major firepower to its development pipeline.

In a blockbuster transaction that’s sending ripples through the mining industry, Torex Gold Resources Inc. is acquiring Prime Mining Corp. in an all-share deal that values Prime at approximately C$449 million. With this move, Torex gains 100% ownership of the Los Reyes gold-silver project in Sinaloa, Mexico, a richly mineralized property boasting both open-pit and underground potential, alongside a storied mining legacy that dates back to the 1700s.
The strategic rationale is clear. For Torex, this deal not only bolsters its already commanding presence in Mexico’s Guerrero Gold Belt but significantly expands its resource base. The addition of Los Reyes increases Torex’s Measured and Indicated gold resources by 32% and its Inferred resources by 44%, along with a substantial 75.6 million ounce boost in silver exposure. More importantly, it positions Torex as a more diversified producer with long-term growth visibility across gold, silver, and copper.
Torex shareholders are betting on proven execution. This is the same company that delivered the Media Luna and El Limón Guajes mines with discipline and precision, completing both projects with minimal budget overruns. Now, with Media Luna ramping up commercial production and generating strong free cash flow, Torex is turning its sights toward building the next high-margin mine. With its in-country expertise, permitting credibility, and established community relationships, Torex appears well-equipped to fast-track Los Reyes through development.
