Fresnillo Plc sells majority of stake in MAG Silver

The Mexican mining company, Fresnillo, announced that it sold most of its shares in MAG Silver, a company based in Canada, but with operations in Latin America, after the acquisition of the Canadian company by Pan American Silver was announced. This Sunday, Pan American Silver and MAG Silver signed a definitive agreement with which the first company will acquire all the shares of the second, which has a share of 44% in the Juanicipio mine, locat…

Fresnillo Plc sells majority of stake in MAG Silver

Fresnillo plc (LON:FRES) has announced that following the recently published agreement to acquire MAG Silver Corp by Pan American Silver Corp, Fresnillo has carefully considered its position in MAG Silver. Fresnillo 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 own…