First Majestic Silver

• • Summary of First Majestic Silver Corp.:**

First Majestic Silver Corp., a Canadian silver-mining company operating in Mexico and the United States, currently manages four producing mines: San Dimas, Santa Elena, La Encantada, and Jerritt Canyon. In 2018, they achieved a production output of 22.2 million ounces of silver equivalents, with 11.7 million ounces being pure silver. Their projected production for 2019 was between 24.7 to 27.5 million ounces.

The company's history includes several key acquisitions and divestments. Notably, they acquired La Encantada in 2008 and sold La Guitarra in 2022. A significant portion of their operations involves the controversial acquisition of mining rights at Wirikuta, a sacred site to the Huichol people. Despite UNESCO's protection designation in 2000, First Majestic Silver purchased these rights in 2009.

Environmental concerns have been raised regarding their activities at Wirikuta. The company employs modern extraction methods such as flotation and cyanidation leaching, asserting adherence to environmental standards. They have implemented measures like waterproofing waste storage facilities. However, local communities continue their efforts to protect the site, appealing for external assistance and government recognition of its cultural significance.