On March 16th, 2024, First Majestic Silver Corp. announced the first completed commissioning and commencement of bullion sales under its new subsidiary, First Mint, LLC.
First Majestic Silver Corp. (NYSE: AG) was
founded in 2002 by current president and CEO, Keith Neumeyer. The company is one of the largest silver producers in the world, averaging about 11.6 million ounces of silver per year, with about 26 million ounces being produced in 2023. They own numerous mining projects throughout Mexico, that employee over 5,200 workers to operate. Their founder, Neumeyer, has always been a key player in the mining sector. He remains to be quite outspoken and highly knowledgeable in the public eye. It was only a matter of time before they built and opened their own minting facility.
As of today, First Mint, LLC, is underway with bullion production and sales in their new Nevada facility that was built just last year. They pride themselves on their eco-friendly machinery that produces less gas emissions then traditional facilities. The mint is said to produce 10% of their silver production from Mexico.
Here is what is said to be included in the first run of their investment grade bullion...
"The inaugural production run of bullion bars will be commemorated and sold as collectibles, complete with certificates of authenticity and exclusive packaging. These limited edition "First Strike" products will include 1,000 one-kilogram bars, 2,500 ten-ounce bars, and 5,000 five-ounce bars. As production ramps up, investors can expect the mint to provide a steady supply of cast bars and one-ounce silver rounds, with additional capacity to service third party projects..."
Additionally First Mint is actively seeking ISO 9001 certification for their bullion to be IRA (Individual Retirement Account) legible.