The investment associated with the exploratory project exceeds Bs 271.7 million.

Of the quarterly total, 92,242oz was produced as concentrate and 47,191oz as doré, the company reported in a statement.

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The initiative is aimed at boosting employment, production chains and the export of Chilean mining technology.

The company previously estimated capex at US$373mn.

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Expansion works at the nine terminals, operated by private sector companies, are likely to begin in the second half, according to the government.

The new estimate is included in an environmental impact assessment that Pemex submitted to Mexico's environment ministry this month.

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