Project Overview
San Dimas is located on the border of the Durango and Sinaloa states and is considered to be one of the most significant precious metals deposits in Mexico. The mine is owned and operated by First Majestic Silver Corp. ("First Majestic"), having been acquired in 2018 as a result of the acquisition of Primero Mining Corp.
The district is comprised of over 100 epithermal bonanza type mineralized gold-silver veins, and hosts over 500 km of underground development. The mine is a low-cost producer of gold and silver, is situated within a very large (15 square kilometre) mining district and has been in continuous production for well over 100 years. The mine consists of five ore zones or blocks: Central, Sinaloa Graben, Tayoltita, Arana Hangingwall and San Antonio West.
San Dimas utilizes long-hole stoping and mechanized cut-and-fill mining methods with all ores processed at the Tayoltita mill. After milling, cyanidation, precipitation and smelting the doré bars are poured and transported to refineries in Mexico and the United States. Over the substantial mine life to date, San Dimas has demonstrated a strong track-record of resource conversion and the mine continues to exhibit strong exploration potential. Since First Majestic acquired the mine, they have been developing a long-term mine and mill automation plan for the future of the operation.
Stream Details
| Date of Contract |
10-May-18 |
| Term |
Life of Mine |
| Stream |
25% of gold plus 25% of silver production converted to gold |
| Upfront Consideration |
$220M |
| Per Unit Production Payment |
$631 (annual 1% inflation adjustment) |
| Cost Quartile |
First |
For more information on the San Dimas mine, please visit: www.firstmajestic.com (opens in new tab)