First Majestic Silver (NYSE:G) reported on April 9, 2026, that consolidated ore processed at its Mexican operations rose 12% year-over-year to 1,059,333 tonnes in the first quarter.
The increase in throughput supported a diversified production profile across its four primary underground mines, even as the company navigated varying grade profiles at its flagship assets.
Total quarterly output reached 3.545 million ounces of silver and 34,341 ounces of gold.
In addition to precious metals, the company produced 15.41 million pounds of zinc, 8.70 million pounds of lead, and 262,913 pounds of copper.
The results reflect the company’s success in scaling operational capacity despite a mixed performance across individual sites.
La Encantada emerged as the quarter’s standout performer, with silver production jumping 48% compared to the first quarter of 2025.
This surge helped offset softer results at San Dimas, where silver and gold output declined by approximately 13% and 12%, respectively.
Management attributed the variations to planned mining sequences and grade fluctuations within the underground blocks.
Beyond active production, First Majestic maintained an aggressive exploration program, completing approximately 65,970 meters of drilling during the quarter.
The company also released its updated Mineral Reserves and Resources estimate, effective December 31, 2025, providing a refreshed roadmap for the life-of-mine plans at its core properties.