First Majestic Silver
First Majestic Silver Corp. is a Canadian silver-mining company that operates in Mexico and the United States. 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. First Majestic also produces and sells its own bullion rounds and bars (others produce and market bullion through private mints). Total production in 2018 reached 22.2 million ounces (629,000 kg) of silver equivalents, including 11.7 million ounces of pure silver. 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. History. First Majestic was founded in 2002 by president and CEO Keith Neumeyer. 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. 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). At the time La Encantada produced 800,000 ounces per year operating at 40% of capacity; the mine was First Majestic's third. According 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). On March 5, 2009 it graduated to the Toronto Stock Exchange with an initial offering of Cdn$25 million. About a year and a half later it joined the New  York Stock Exchange (Dec.23, 2010). In 2009 First Majestic added a fourth silver project when it acquired Normabec Mining Resources Ltd (completed in September). Initially the deal was thought to have included both Mexico's Real de Catorce mine and Quebec's Pitt Gold Property. However, non-Mexican assets (including Pitt Gold) were spun off into a new company called Bionor Resources Inc, which is now Magna Terra Minerals. In January 2018 First Majestic acquired Primero Mining and the San Dimas silver-gold mine in Durango, Mexico. Projects. There are seven projects in total: Environmental impacts on Wirikuta. Wirikuta, one  of the sacred mountains of the Huichol people and important in their ceremonial migration, peyote hunt, and deer dance, is being purchased for silver mining by First Majestic Silver Corp. On October 27, 2000 United Nations Education, Scientific and Cultural Organization (UNESCO) claimed this site as a protected area for its importance as a cultural route and endemic flora and fauna species. Before a gathering of 60,000 people at Wirikuta Fest on May 26, 2012, First Majestic Silver announced it had returned some of their mining concessions to the national mining reserve to protect Wirikuta, but the Wixarika Regional Council  exposed this as a farce. Later on June 9, 2001 it was declared as a National Sacred Site under the State of San Luis Potosí's Natural Protection Act. First Majestic Silver Corp still decided to purchase mineral rights on November 13, 2009 with 80% of their interest within the protected land. The company's production plan and the characteristics of the narrow vein mineral deposit only allows an underground mining system (as has been done for 200 years) using modern methods of mining production. The ore that the company will extract will be silver values through the FLOTATION Method , which uses biodegradable chemical reagents that are harmless to the environment and the human being. National and international environmental and health standards will be complied with. Waterproof material will be used at the base of the Waste Warehouse, which prevents the filtration of liquids to the subsoil. In April, 2010 the company reached full production capacity at its La Encantada mine in Coahuila, Mexico, processing 3,500 tons of ore per day. First Majestic Silver uses the cyanidation leaching method to extract silver precipitates from ore. Currently the Huicholes are trying to find outside groups to help them in the conservation  of their land and culture by protecting this mountain, as well as appealing to the President to honor his agreement to protect their holy sites. It remains to be seen if the company is able to extract the precious metal with minimal impact to the above ground heritage site.