First Majestic sees lower 2017 output as it prepares for growth in 2018 and beyond

Precious metals producer First Majestic Silver expects to produce about 6% less gold this year than in 2016, as it prepares for significant production growth in 2018 and beyond, the company said Tuesday. During 2016, the Vancouver-headquartered miner produced a new record of 18.7-million silver-equivalent ounces (SEOs), representing a 16% increase over 2015, and meeting the upper end of the 16.8-million- to 18.7-million-ounce guidance range. Output comprised 11.9-million ounces of silver, 62 436 oz of gold, 33.2-million pounds of lead and 10.6-million pounds of zinc.