![]() ![]() San Martin, Jalisco State, Mexico produces approximately 1 million ounces of silver annually.Further expansions are planned for this project, and it will ultimately reach 4,000 tpd. The first phase of the project was inaugurated in January 2013, and the mill began processing at a rate of 1,000 tpd. Del Toro, Chalchihuites, Zacatecas consists of two mine sites: San Juan and Perseverancia. ![]() Since 1983 the mine (operating continuously) has produced over 25 million ounces of silver (as of 2010). The property recently underwent an expansion project that saw the mill capacity increase to 2,000 tpd. La Parrilla consists of mining rights covering 69,460 hectares of land, making it First Majestic's largest land package.Recent upgrades at the property include a 20% reduction in energy costs by converting from diesel powered generators to LNG, implementation of high-intensity grinding (HIG) mills, and a coal-powered roaster to unlock manganese encapsulated Silver from ore. The mill at La Encantada opened in the summer of 2008 and reached commercial production in April 2010. The site employs 782 full-time workers (most from the immediate area which is an isolated region). The property is located in Coahuila, Mexico within a couple hundred km of the Mexico-Texas border. La Encantada has been in the company's portfolio of assets since 2006 and includes a 4,000 tpd cyanidation processing plant and 4,076 hectares of mining rights.Ermitaño contains resources of 50+ million silver equivalent ounces, and First Majestic is targeting late 2020 for commercial production from this new asset. The company recently added 16,526 hectares of mining concessions by acquiring 100% of the adjacent Ermitaño project. When First Majestic acquired the property in late 2015 it consisted of a 3,000 tpd cyanidation plant, an underground mine, an open pit mine, a leach pad, and an 85, 646 hectares land package. Santa Elena is located in Sonora, Mexico and employs approximately 300 workers from the nearby municipality of Banámichi (pop.Production at San Dimas began in 1757, with the first cyanidation mill built in 1904. Approximately 1,800 workers are employed at the mine, mostly from the nearby community of Tayoltita (population 8,000). The property is located in Durango, Mexico and includes a 2,500 tpd cyanidation mill and a 71,867 hectares land package. San Dimas is the company's cornerstone property, acquired in May 2018.In January 2018 First Majestic acquired Primero Mining and the San Dimas silver-gold mine in Durango, Mexico. However, non-Mexican assets (including Pitt Gold) were spun off into a new company called Bionor Resources Inc, which is now Magna Terra Minerals. ![]() Initially the deal was thought to have included both Mexico's Real de Catorce mine and Quebec's Pitt Gold Property. In 2009 First Majestic added a fourth silver project when it acquired Normabec Mining Resources Ltd (completed in September). About a year and a half later it joined the New York Stock Exchange (Dec.23, 2010). On March 5, 2009, it graduated to the Toronto Stock Exchange with an initial offering of Cdn$25 million. Īccording to the stock chart on its website and the company's profile on the Venture Exchange website, it is listed since 2002 but the oldest part of the company goes back as far as 1984 (Brandy Resources Inc). At the time La Encantada produced 800,000 ounces per year operating at 40% of capacity the mine was First Majestic's third. In September 2006 it took control of Desmin, the owner/operator of La Encantada (Coahuila, Mexico) in a US$4.75 million deal (ownership of the mine was purchased through Desmin from Industrias Penoles for US$3.25 million). In June 2006 First Majestic acquired First Silver Reserve Inc (initially just a controlling stake and within three months it purchased all remaining interest), owner of the San Martin silver property in central Mexico. History įirst Majestic was founded in 2002 by president and CEO Keith Neumeyer. According to the company, 2019 production from its seven mines is anticipated to be between 24.7 and 27.5 million ounces (700,000 and 779,600 kg) of silver equivalents, including 14.2 to 15.8 million ounces (447,922 kg) of pure silver. Total production in 2018 reached 22.2 million ounces (629,000 kg) of silver equivalents, including 11.7 million ounces of pure silver. First Majestic also produces and sells its own bullion rounds and bars (others produce and market bullion through private mints). It has four producing mines under its control: San Dimas Silver/Gold Mine, Santa Elena Silver/Gold Mine, La Encantada Silver Mine, and Jerritt Canyon Gold Mine. is a Canadian silver-mining company that operates in Mexico and the United States. ![]()
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