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The mine supports more than 600 direct jobs in 2025

The Silver Bell operations consist of four open pits: North Silver Bell, El Tiro, West Oxide, and East Oxide. The total production from the Silver Bell mining district between 1885 and 2015 was approximately 2.27 billion pounds of copper, 6.6 million pounds of molybdenum, 3.7 million pounds of lead, 40.8 million pounds of zinc, 2,100 ounces of gold, and 5.95 million ounces of silver. As of 31 December 2015, remaining reserves were reported to be 214.4 million tons, with an average grade of 0.283% copper.

Production overview - 2020: copper 20400 t; 2019: copper 20400 t.

The mine is a leach-only operation. All copper from the pits is extracted from the ore utilising dump leaching and a solvent extraction/electrowinning (SX-EW) plant. The production capacity of the SX-EW plant was expanded to 65 tons per day in 2003.

In September 2014, ASARCO LLC acquired the remaining 25% interest in the Silver Bell project from Mitsui Mining for $115.2 million, taking its ownership to 100%. Construction of the Mammoth Wash dump leach pad and leach solution ponds, situated between the West Oxide and El Tiro pits, was finished in January 2017. This facility is designed to treat approximately 80 million tons of copper ore.

approximately 850 people

Production overview - 2016: copper 62 Mlbs.

The Ray Mine is an open-pit operation. Ore is processed through crushing, grinding, and flotation at the on-site Ray Concentrator and the nearby Hayden Concentrator to produce copper concentrate. There is also a solvent extraction-electrowinning (SX-EW) plant for copper cathode production from leaching operations. The copper concentrate is transported to the Hayden Smelter.

In 2025, the mine began implementing an autonomous haulage system, incorporating 11 new Caterpillar 794 autonomous haul trucks with a payload capacity of 327 tons.

ASARCO has a long-term vision to potentially double the capacity of the Ray Mine. In June 2024, the United Steelworkers union members at the Ray Mine approved a new three-year labor agreement, which includes wage increases and improved benefits.

1,300

Production overview - 2023: copper 126 Mlbs; 2012: copper 134 Mlbs.

The ore is crushed, ground in a wet process, and then subjected to froth flotation to produce copper and molybdenum concentrates. The concentrates are dewatered and filtered before being sent off-site for further processing.

Construction work is ongoing for the tailings pumping system for Tailings Dam 4.

The Bécancour Battery Materials Plant is a key component of Nouveau Monde Graphite's integrated strategy to supply the lithium-ion battery market. The plant will process graphite concentrate from the company's Matawinie Mine. The processes to be carried out at the facility include micronization, spheronization, purification, and coating to produce active anode material. The chosen purification method is aqueous chemical purification. The project is being developed in phases. Phase 1 involved demonstration-scale operations. The commercial-scale Phase 2 development is planned in two stages. In February 2026, Nouveau Monde Graphite acquired a 143,000-square-metre brownfield site with a 22,000-square-metre industrial facility, adjacent to its existing 200,000-square-metre greenfield property in Bécancour. This acquisition is intended to accelerate the development of the first stage of the Phase 2 plant. This initial stage at the brownfield site will be dedicated to producing 13,000 tonnes per annum of active anode material to fulfill an offtake agreement with Panasonic Energy, which will use the material in its battery manufacturing facilities in Nevada and Kansas. A final investment decision for this brownfield development is anticipated in the second half of 2026. The full Phase 2 Bécancour plant is designed to produce 44,100 tonnes per year of active anode material, and also market 14,720 tonnes per year of graphite concentrate and 43,334 tonnes per year of micronized by-product. The battery-grade material will have a minimum purity of 99.90% total carbon. The integrated Matawinie Mine and Bécancour plant projects are expected to create over one thousand jobs. The plant is strategically located in the Bécancour industrial park, which provides access to highways, railways, and port infrastructure.

13,000 tonnes per annum of active anode material (first stage of Phase 2); 44,100 tonnes per year of active anode material (full Phase 2); 14,720 tonnes per year of graphite concentrate (full Phase 2); 43,334 tonnes per year of micronized by-product (full Phase 2)

micronization, spheronization, purification, and coating to produce active anode material. The chosen purification method is aqueous chemical purification.

1000+ (projected for the integrated project)

The Matawinie Mine is a key part of Nouveau Monde Graphite's plan to create a fully integrated battery materials supply chain in North America. Located 120 km north of Montréal, the project is set to be the largest graphite mine in the G7. Construction is expected to begin in the first quarter of 2026, with production commencing by mid-2028. The project has secured a US$335 million debt commitment from Export Development Canada and the Canada Infrastructure Bank. Preparatory work, including the construction of an access road, began in 2021. The mine has been designated as a major project of national interest by the Government of Canada. Long-term offtake agreements are in place for 75% of the mine's future production. The project has agreements with the Atikamekw First Nation of Manawan and the local community of Saint-Michel-des-Saints.

Production overview - 2025: graphite 0.98 Mt.

The ore will be processed at a concentrator on-site. The process will involve crushing and flotation to produce graphite concentrate. The plant is designed to produce a 97.5% pure concentrate.

The mine will use conventional open-pit mining methods including drilling, blasting, loading, and hauling. An all-electric fleet is planned. Equipment suppliers will include Metso for the crushing station, apron feeders, mills, flotation cells and filter presses.

500

The project, operated by Eramet's subsidiary Eramine Sudamérica S.A., is located in the Salar de Centenario-Ratones at an altitude of approximately 4,000 metres. The French mining group Eramet initially partnered with China's Tsingshan Group but acquired Tsingshan's 49.9% stake in October 2024 to gain 100% ownership. The plant was inaugurated in July 2024, with commissioning starting the same month, and it delivered its first production in December 2024. The total drainable mineral resources are estimated at more than 15 million tonnes of LCE.

First lithium carbonate was produced in December 2024. The Phase 1 plant has a nameplate capacity of 24,000 tonnes per year of battery-grade lithium carbonate equivalent (LCE). The company will ramp up production in 2025.

The project uses a Direct Lithium Extraction (DLE) plant. This process has a lithium recovery yield of over 90%. The plant is designed to recycle 60% of its process water.

A feasibility study is underway for a second phase of development to add approximately 30,000 tonnes of LCE to the annual production capacity. The total resource is believed to support a potential long-term production capacity of over 75,000 tonnes per year of LCE.

The Apurimac Iron Ore Project is under development, with Strike Resources aiming to resume small-scale mining. Permitting was paused in July 2025. Long-term plans for 20 Mtpa production depend on infrastructure like the proposed Andahuaylas-Marcona railway.

Production overview - 2021: iron ore 35000 t.

The project plans to use conventional open-cut mining methods. High-grade Direct Shipping Ore (DSO) is processed through crushing plants. A pre-feasibility study considered coarse, wet magnetic beneficiation to produce a concentrate with over 68% Fe.

The project has the potential to support a significant iron ore operation, with a long-term objective of producing 20 million tonnes per annum. This is largely dependent on the development of supporting infrastructure, such as the proposed Andahuaylas-Marcona railway, which would connect the project to a port.

1,800

Production overview - 2025: silver 15400000 oz, gold 147433 oz; 2024: silver 4500000 oz, gold 50000 oz.

Ore is processed at the 2,500 tonne-per-day capacity Tayoltita mill. The process involves conventional crushing and grinding, followed by cyanidation and zinc precipitation to recover gold and silver. The final product is silver and gold doré bars, which are then sent to refineries in Mexico and the United States.

The mine utilises long-hole stoping and mechanised cut-and-fill mining methods. Equipment includes load-haul-dump (LHD) machines, haul trucks, drill jumbos, and jackleg drills.

First Majestic has been actively engaged in exploration programs at San Dimas to test new mineral targets and convert mineral resources to reserves. Drilling in 2024 and 2025 has intersected significant high-grade silver and gold mineralisation in multiple veins, including the Perez, Sinaloa-Elia, Santa Teresa, and the newly discovered Coronado vein. These results suggest potential for resource expansion and future production growth. The company planned to invest approximately $182 million in capital expenditures in 2025 for sustaining and expansionary projects across its operations, with a focus on exploration and development at San Dimas and Santa Elena. For 2025, approximately 14,000 metres of underground development was planned for the San Dimas mine.