First Majestic Silver suspends mining activities at Jerritt Canyon; shares fall

First Majestic Silver

21/03/2023 11:00

** U.S.-listed shares of Canadian silver miner First Majestic
Silver Corp  AG.N  drop 17.07% to $6.17 in pre-market trading
  ** Suspends all mining activities at Jerritt Canyon, which
accounted for about 21% of co's 2022 revenue, effective
immediately  urn:newsml:reuters.com:*:nNFCZ0g4
  ** Co also reducing workforce at Jerritt Canyon to cut overall
costs
  ** “Company will continue exploring both near-mine and
prospective regional greenfield targets to grow Jerritt Canyon's
resources,” says CEO Keith Neumeyer
  ** Shares down ~10% in 2023, after falling ~20% in 2022 

 (Reporting by Yamini Kalia)
 ((Yamini.Kalia@thomsonreuters.com))