Vancouver-based First Majestic Silver Corp. announced that its new First Mint silver minting facility in Las Vegas is commissioned and bullion sales from the 100% owned and operated facility have started, with the first bars sold as collectibles.
First Mint vertically integrates a manufacturing plant for investment-grade silver bullion into the First Majestic portfolio, according to the March 26 report, which states that plans are underway to expand the minting operation as needed.
The First Majestic portfolio includes the Jerritt Canyon property north of Elko and operating mines in Mexico.
The inaugural production run of bullion bars at First Mint will be commemorated and sold as collectibles, complete with certificates of authenticity and exclusive packaging. These limited edition “First Strike” products will include 1,000 one-kilogram bars, 2,500 ten-ounce bars, and 5,000 five-ounce bars, First Majestic reported.
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As production ramps up, investors can expect the mint to provide a steady supply of cast bars and one-ounce silver rounds, with additional capacity to service third-party projects, according to the company, which is the only silver producer to sell its own products online.
First Majestic products sold though the online Bullion Store will remain available for sale alongside First Mint branded items. Those interested in purchasing the new silver products can do so at www.firstmint.com.
The company stated that in line with First Majestic’s commitment to environmental and community stewardship, First Mint operates machines that are state of the art and require less electricity and do not release gas emissions, compared with traditional minting processes.
First Majestic also stated that the high-efficiency production line allows the mint to produce products from more than 10% of First Majestic’s current silver production coming from the Mexican operations.
First Majestic operates the San Dimas silver and gold mine, the Santa Elena silver and gold mine and the La Encantada silver mine in Mexico, and is continuing exploration at the Jerritt Canyon Mine in Elko County after suspending mining there roughly a year ago.
According to the new First Mint website, a maker’s mark and statement of weight and fineness is stamped directly onto First Mint silver rounds, medallions, ingots and bars, and certificates of authenticity are shipped with silver purchases.
Additionally, the company said the mint is seeking ISO 9001 certification, allowing for its silver to be Individual Retirement Account (IRA) eligible. Along with this certification comes a quality commitment that First Mint will fully guarantee the weight, purity, and content of its bullion products.
First Majestic also reported the shareholders’ benefits program will continue, allowing those owning at least 100 shares of the company to save 50 cents per ounce from the posted price of silver products.
The First Mint email is info@firstmint.com.