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.
Choppy seas off the coast of Chile caused widespread delays to copper shipments from the world’s top producer in the second half of June, potentially supporting prices in a market grappling with oversupply.
Cargoes were stranded at ports as stormy weather prevented ships from loading, said miners in Chile, including world No.1 Codelco.
That could buttress prices in the short-term, although any impact is unlikely to last long as miners said exports were back to normal by the start of this month.
