Canadian mining company Vizsla Silver Corp has confirmed that workers abducted from one of its project sites in Mexico have been found dead, bringing a tragic end to a case that has raised serious concerns about safety in the mining sector.
The Vancouver-based silver miner reported last month that 10 workers were kidnapped from its Pánuco silver project in Concordia, a municipality in Mexico’s Sinaloa state. On Monday, Vizsla Silver Corp said it had been informed that the missing workers were found deceased, although the company is still awaiting final confirmation from Mexican authorities.
Following the announcement, shares of Vizsla Silver Corp fell by more than 7% in morning trading, reflecting investor concern over the incident and its potential impact on operations.
Bodies Found in Clandestine Grave
Mexican authorities said that at least one body matching the description of one of the abducted mine workers was discovered in a clandestine grave in Concordia. The site reportedly contained remains of several individuals and is located about 45 kilometers east of Mazatlán, a major city on Mexico’s Pacific coast.
The Attorney General’s Office said forensic teams are working to identify the remains and collect evidence. As of now, police have not officially confirmed the identities of the victims.
Organized Crime and Regional Risks
Family members of the missing workers told Reuters that some employees at the Vizsla Silver Corp mine had previously received threats from organized crime groups operating in the region. These groups reportedly include the Chapitos, a faction of the Sinaloa cartel.
Mexico’s Security Minister, Omar García, confirmed earlier that the area where the miners disappeared is under cartel control. Mining operations at the Pánuco project have been suspended since the abductions.
Impact on the Mining Industry
This incident highlights the growing security challenges faced by mining companies operating in parts of Mexico. While the country remains an important destination for silver mining, violence linked to organized crime continues to pose serious risks to workers and operations.
The tragedy has renewed calls for stronger security measures and greater coordination between mining companies and authorities to protect workers in high-risk regions.
