Silver Price: $23.03
NYSE: AG $9.54
TSX: FR $12.85
Frankfurt: FMV €9.11


The La Encantada Silver Mine is 100% owned by First Majestic Silver Corp. and includes a 4,000 tpd cyanidation mill. The site encompasses 4,076 hectares of mining rights and 1,343 hectares of surface rights. The La Encantada property has been in First Majestic's portfolio of assets since 2006 and has since become one of the Company's largest producing silver mines.









2022E Production

3.0M – 3.2M Ag oz

2022E All-In Sustaining Costs

$18.51 – $19.16

Proven & Probable Reserves

12.4M Ag oz

Measured & Indicated

32.9M Ag oz


20.6M Ag oz


The La Encantada Silver Mine is located in northern Mexico, 708 km northeast of Torreon, Coahuila. Access to the mine is via a road from Muzquiz to Boquillas del Cármen, Coahuila. This route consists of a 165 km paved road and a 45 km dirt road, taking approximately 2.5 hours to travel. Nearby infrastructures include an airstrip, housing, offices, ancillary buildings, laboratory, restaurant, general store and a recreation facility.

Mining & Milling Operations

Construction of the new cyanidation mill has undergone several improvements in recent years. Most recently, the plant was further upgraded in 2015 with the installations of a new 12' x 24' ball mill, tertiary crusher, two vibrating screens and a series of conveyor belts. 

A fully functional 1,000 tpd flotation mill is also located at La Encantada. Historically, this flotation mill was the primary method of silver production over the past 30 years; however, with the cyanidation plant now operating at full capacity, production of lead concentrate through the flotation circuit was suspended in June 2010 and the circuit is currently in care-and-maintenance.

Operating Highlights

La Encantada Production Results 2021 2020 2019 2018 2017
Ore Processed/Tonnes Milled 1,004,144 860,613 916,894 916,894 825,486
Average Silver Grade (g/tonne) 130 162 146 95 127
Recovery (%) 77% 88% 74% 57% 64%
Total Silver Ounces Produced 3,241,556 3,505,953 3,083,410 1,603,740 2,178,032
Gold Ounces Produced 460 241 190 89 79
Total Production - Ounces Silver Equivalent 3,274,798 3,526,776 3,099,717 1,610,895 2,183,899
Underground Development (m) 3,305 3,674 5,444 6,078 3,064
Diamond Drilling (m) 15,373 18,611 17,739 19,461 15,370

Local Geology, Mineralization & Ore Types

The mineralogy of the deposits at La Encantada is predominantly iron oxides, carbonates and lead sulphates with high concentrations of silver (argentite and native silver) values as the result of an oxidation process and enrichment in a known vertical range of more than 400 meters. Beneath the elevation 1,600 meters, there is a presence of sulphides of Pb-Ag-Zn in the SW part of the La Encantada mine (La Morena ore-bodies).

For more detailed geological information readers are encouraged to review the Company's most recent NI 43-101 Technical Report (PDF).

The Reserves/Resources inventories are reported in NI 43-101 Technical Reports published periodically by the Company. The complete report can be viewed in the Reserves/Resources section or on SEDAR.