International News
First Majestic Produces 7.7 Million AgEq oz in Q1 2025
First Majestic is pleased to announce that total production in the first quarter of 2025 from the Company’s four producing underground mines in Mexico reached 7.7 million AgEq ounces, consisting of 3.7 million silver ounces, 36,469 gold ounces, 12.5 million pounds of zinc and 7.5 million pounds of lead.
Q1 2025 PRODUCTION HIGHLIGH
- Record Silver Production (+88% Y/Y): The Company produced 3.7 million silver ounces in Q1 2025 representing an 88% increase when compared to 2.0 million silver ounces produced in Q1 2024. Total silver production in the quarter included 1.4 million ounces of attributable silver production from Cerro Los Gatos as well as a notable 17% (0.2 million ounce) increase at San Dimas primarily due to operational improvements.
- Strong Silver Equivalent Production (+49% Y/Y): The Company produced 7.7 million AgEq ounces in Q1 2025 representing a 49% increase when compared to 5.2 million AgEq ounces produced in Q1 2024 driven by an 88% increase in attributable consolidated silver production and a 1% increase in gold production. The significant increase resulted from the inclusion of attributable production from Cerro Los Gatos, as well as an 11% increase in production at San Dimas.
- Continued Active Exploration Program: During the first quarter, the Company completed a total of 61,219 metres of drilling across its mines in Mexico. Throughout the quarter, up to 28 drill rigs were active consisting of seven rigs at Cerro Los Gatos, seven rigs at Santa Elena, 13 rigs at San Dimas, and one rig at La Encantada.
- Conversion to LNG at San Dimas: The replacement of the diesel generators used for on-site back-up power at San Dimas with LNG units is near completion, with four 1 megawatt LNG generators on site that will commence operating in Q2 2025. We expect this shift to LNG to generate substantial cost-savings and will result in a reduction in carbon emissions of up to 25%, when back-up power is required.
- Record Safety Performance Continues (-65% Y/Y): The consolidated Q1 2025 Total Reportable Incident Frequency Rate was 0.17, well below the Company’s 2025 target KPI of 0.70 and a 65% improvement compared to Q1 2024. The Lost Time Incident Frequency Rate was 0.06 compared to 0.08 from the same period last year. The Cerro Los Gatos operation finished Q1 without a reportable incident, a significant milestone in the operation’s history.
DiamondBuzz
De Beers Group Launches “Heera Hai Aapke Liye” Program at IIJS Bharat Signature to Revolutionize Natural Diamond Accessibility in India
De Beers Group, the world’s leading diamond company, marked a significant milestone in the Indian jewellery landscape with the official launch of the “Heera Hai Aapke Liye” program at IIJS Signature. The star-studded event featured actress Sonakshi Sinha, who joined Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, to unveil an initiative dedicated to making natural diamonds an integral part of daily life for the modern Indian consumer.



The “Heera Hai Aapke Liye” (Diamonds are for You) program is strategically designed to promote natural diamonds by raising awareness, boosting market visibility,and creating a seamless connection between retailers and consumers. With a focus on modern designs and attractive price points, the program also lets local retailers use De Beers Group campaigns as their own—second-piercing earrings, ‘Bestie’ bracelets, and ‘Intention’ pendants. It positions diamonds as a lifestyle choice for self-expression and daily wear.

Speaking at the launch, Shweta Harit, Global Senior Vice President of De Beers Group and CEO of Forevermark, detailed the evolution of the brand’s storytelling, stating, “De Beers Group has a rich legacy of creating iconic ritual campaigns that have shaped how the world perceives diamonds. With ‘Heera Hai Aapke Liye,’ program we are evolving that narrative for the Indian market to another level.
We are not just selling jewellery, we are making natural diamonds more accessible and desirable in India. Our goal is to empower retailers through INDRA (Indian Natural Diamond Retailer Alliance) to ensure that every ‘First Diamond’ journey is as credible as it is beautiful.”

Speaking on the occasion, Kirit Bhansali, Chairman, Gem & Jewellery Export Promotion Council (GJEPC), said, “IIJS has always been a powerful platform for shaping the future of India’s gem and jewellery industry, and the launch of ‘Heera Hai Aapke Liye’ at IIJS Signature reinforces that role. GJEPC is proud to partner with De Beers Group on the INDRA (Indian Natural Diamond Retailer Alliance) project, which is a critical step towards strengthening domestic demand for natural diamonds.
By empowering retailers, enhancing consumer confidence, and expanding access across metros and Tier 2 markets, this initiative aligns perfectly with our vision to grow the natural diamond category sustainably within India.”
The program ‘Heera Hai Aapke Liye’, rests on few strategic pillars aimed at industry growth and scalability:
- Stocking & New Consumer Opportunity: Identifying gold wholesalers and distributors across 15–20 cities to focus on a first-phase target of 500 retailers.
- Retailer Advantage: Providing a “Design Advantage” and strict “Product Hygiene,” backed by a clear buy-back policy and robust training and marketing support via the INDRA alliance.
- Heera Hai Aapke Liye is robust entry-level product kit featuring earrings, bangles, bracelets, etc supported by exclusive visual merchandising (VM) for display.
- Growth and Scalability: A PAN-India reach strategy designed to unlock new business opportunities for both manufacturers and retailers.


As India continues to grow as the world’s second-largest market for retail diamond jewellery, De Beers Group remains committed to strengthening the natural diamond narrative. By combining the emotional appeal of natural diamonds with the practical “Heera Hai Aapke Liye” framework, De Beers aims to build a sustainable future for the category across both metros and Tier 2 cities. De Beers and GJEPC aim to expand the base of Natural Diamond buyers, increase self-purchase consideration, and establish long-term credibility for the category.
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