JV Video: First Majestic’s new mint takes silver from mine to money, executive says

Henry Lazenby | October 9, 2024 | 2:36 pm News Precious Metals Australia, NZ & South Pacific Canada China Europe Mexico and Central America Russia and Central Asia South America United States Silver 
JV Video: First Majestic’s new mint takes silver from mine to money, executive says
First Majestic Silver VP Mani Alkhafaji talks to TNM’s western editor, Henry Lazenby.

First Majestic Silver’s (TSX: AG; NYSE: AG) new mint in Las Vegas began production last month, completing the company’s vertical integration, vice-president for corporate development Mani Alkhafaji said in an interview.

As the mint ramps up production towards its first profits, the mine-to-money strategy looks set to boost margins by lowering costs. Alkhafaji suggests silver prices could climb much more.

“As the supply-demand deficit widens, First Majestic stands ready to seize the opportunity,” Alkhafaji said last month during the Gold Forum Americas. “With the continuing supply-demand deficit and growing need for silver in green energy, we believe it’s only a matter of time before the price reflects this scarcity—potentially reaching US$100 per ounce.”

Meanwhile, First Majestic announced last month the US$970 million acquisition of Gatos Silver to strengthen its production portfolio, adding another Mexico asset with potential synergies with its other local assets.

Watch the interview below with The Northern Miner’s western editor, Henry Lazenby.

https://vimeo.com/1015775674

Joint venture videos are paid-for content in arrangement with The Northern Miner Group. 

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