First Majestic, Mexico Agree on Framework to Settle Legacy Tax Dispute

MT Newswires Live10-13

First Majestic Silver (AG) and the Government of Mexico have agreed in principle to a settlement framework regarding a legacy tax issue involving the company's subsidiary, Primero Empresa Minera, it said Tuesday.

As a result, the parties have temporarily suspended the North American Free Trade Agreement arbitration proceedings while they work to finalize and implement a settlement, according to a filing with the US Securities and Exchange Commission. The tribunal suspended proceedings until Dec. 31.

First Majestic Silver said it remains optimistic that a settlement will be finalized by the end of the year.

Shares of the company were down 2% in early Tuesday trading.

Price: 16.65, Change: -0.34, Percent Change: -2.03

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