06:07 AM EDT, 05/16/2025 (MT Newswires) -- Fresnillo plc has sold the majority of its shares in MAG Silver Corp. ( MAG ) , while citing other strategic investment objectives, following Pan American Silver Corp.'s ( PAAS ) recently announced acquisition agreement with MAG Silver ( MAG ).

Fresnillo, a major precious metals producer and operator of the Juanicipio mine, initially held a stake exceeding 9% in MAG Silver ( MAG ). But under the terms of the proposed acquisition, which still needs to be approved, Fresnillo's stake in MAG Silver ( MAG ) would be to less than 1% in the merged entity.