The deal includes $2.5 million upfront and $87.5 million in installments, with final payment due August 31, 2032.
First Majestic Silver Corp. (AG) agreed to sell its San Martin Silver Mine in Jalisco, Mexico, to Flextronics Supply and Service for $90 million. The transaction involves the transfer of all subsidiary shares and associated properties, with an upfront cash payment of $2.5 million and the remaining $87.5 million paid in installments over several years.
The mine has been under care and maintenance since July 2019 and was previously a producer of silver and gold. The deal is subject to customary closing conditions and Mexican Antitrust approval, with an expected closure in the fourth quarter of 2026. The final $35 million payment is due on August 31, 2032.
First Majestic explores and produces silver and gold deposits in North America, focusing on mineral properties with high potential.