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First Majestic strikes deal with workers' union to resume La Encantada ops

First Majestic Silver Corp. on June 2 said it reached a tentative agreement with a workers' union to restart operations at the company's La Encantada silver mine in Mexico.

In late May, a group of rogue workers erected an illegal blockade after disagreeing with the bonus the company and the National Union of Miners, Metallurgists, Steelworkers and Similar Workers of Mexico approved in lieu of profit sharing.

The company and the National Union have since been in talks to reach an agreement favorable for all parties. First Majestic will now undertake a phased restart of operations, with production expected to restart by mid-June before ramping up to full production by the end of the month.

Additionally, the company is planning to implement a reinduction and retraining process for the union miners as soon as next week.