Business
Sale of MAG Silver shares & Juanicipio partnership
Sale of MAG Silver shares & Juanicipio partnership.
About this update from Fresnillo Plc
[{"type":"text","content":"\n\n Fresnillo plc\n21 Upper Brook Street\nLondon W1K 7PY\nUnited Kingdom\nwww.fresnilloplc.com\n \n \n16 May 2025\n \n \nStatement re sale of MAG Silver shares and Juanicipio partnership\n \n \nFresnillo plc (\"Fresnillo\" or \"the Company\") announces that following the recently published agreement to acquire MAG Silver Corp (\"MAG Silver\") by Pan American Silver Corp (\"Pan American\") (the \"Agreement\"), Fresnillo has carefully considered its position in MAG Silver.\n \nFresnillo originally acquired its stake in MAG Silver as a strategic investment in a single-asset company to support the strong partnership at Juanicipio, one of the world's premier silver mines where Fresnillo is the operator and majority owner. Under the terms of the Agreement, subject to approval of the transaction, Fresnillo's shareholding of over 9% of MAG Silver would convert into a shareholding of less than 1% of Pan American, a diversified, multi-asset precious metals mining company. This conversion of shares does not align with Fresnillo's strategic investment objectives nor with the interests of its shareholders and therefore Fresnillo has sold the majority of its MAG Silver shares.\n \nFresnillo is very confident in the value and performance of the Juanicipio mine, which continues to deliver excellent operational and financial results and remains one of the key assets in the Fresnillo portfolio. The sale of its MAG Silver shares reflects a disciplined approach to the Company's...