First Majestic Silver Corp

Description

First Majestic Silver Corp is a silver-focused mining company based in Canada.

The portfolio consists of producing silver mines in Mexico:

• Santa Elena: silver and gold mine
• La Encantada: silver mine
• San Dimas: silver and gold mine

The company acquired its first silver mine, La Parrilla Mine, in 2004.

The mining complex, located in Mexico's Durango State, consists of five mines: La Blanca, Rosarios, San Marcos, Vacas and Quebradillas mines. First Majestic Silver Corp leases 107 hectares of surface right and owns 60 hectares.

In 2006, the Canadian silver producer acquired another mine in Mexico, the La Encantada Silver Mine. The company has 100 per cent ownership in the mining operation and is reportedly First Majestic's largest producing mines. The facility has 4,076 hectares of mineral right and 1,343 hectares of surface right, consisting of a cyanidation plant, administrative offices and houses.

In the same year, First Majestic acquired San Martin Silver Mine, located in Jalisco, México. The operation includes 33 contiguous mines in San Martin de Bolaños. The mine further includes a processing plant, tailings dams, maintenance shops, office facilities, etc., spread in 160 hectares of surface land.

In 2013, the Canadian silver mining company acquired the Del Toro Silver Mine, which is located nearly 60 kilometers southeast of the La Parrilla mine. It represents three silver mines, namely, Dolores, San Juan and Perseverancia mines.

With the acquisition of Primero Mining Corp in 2018, the company added San Dimas Silver/Gold Mine to its portfolio. It is an underground mine located in Durango State, Mexico.

The diversified portfolio also includes various exploration and development projects, including:

• Ermitaño Project: It is a gold/silver exploration project located in Sonora State, Mexico.

• La Parrilla Silver Mine: First Majestic owns and operates the property, which consists of five underground mines: La Rosa, Los Rosarios Quebradillas, San Jose and San Marcos.

• Jalisco: It consists of 5,245 hectares of mining claims in Mexico’s Jalisco state.

• La Luz: The company acquired Normabec Mining Resources in 2009 and owns the La Luz silver project. It is located in Mexico's San Luís Potosí State.