International news within the industry of mining and metal, May, 21 2018
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Canadian miner to acquire Mexican silver-gold mine

Photo: Kirkland Lake Gold
Photo: Kirkland Lake Gold
Published by
Jaroslaw Adamowski - 15 May 2018

Mexican investment Canada’s First Majestic Silver has obtained antitrust clearance from Mexico’s COFECE regulator to acquire Primero Mining in a deal estimated to be worth $320 million.

The deal will provide First Majestic with access to Primero’s San Dimas silver-gold mine in Mexico’s Durango state.

First Majestic says it is a company focused on silver production in Mexico where it owns and operates six producing silver mines. These include the La Parrilla Silver Mine, the San Martin Silver Mine, the La Encantada Silver Mine, the La Guitarra Silver Mine, Del Toro Silver Mine, and the Santa Elena Silver Mine.

Production from these six mines is expected to total between 10.6 and 11.8 million oz of pure silver or 15.7 to 17.5 million oz of silver equivalents in 2018, according to data from First Majestic.

Primero Mining is a Canada-based precious metals producer.