Gatos Silver posts solid 2024, preps takeover by First Majestic
The deal will merge Gatos’ main Cerro Los Gatos mine with First Majestic’s San Dimas mine in Durango, and its Santa Elena operation in Sonora.
Hours before the auction-based and auditable substitute for the 117-year old silver fix goes live on Friday there was still no certainty over who will take part or how trades will be routed.
The LBMA-led search for an alternative to the gold and silver fix came as market regulators had been scrutinizing benchmarks across the financial sector in the wake of a scandal involving rigging of interest rates.
Ross Norman, CEO of Sharps Pixley, discusses the implications of the end of London’s Victorian era silver fix on CNBC.
