Steve Holmes

Chief Operating Officer

First Majestic Silver Corporation

2025 MEDAL OF MERIT RECIPIENT

Steve Holmes, Chief Operating Officer at First Majestic Silver Corp., is a mining engineer with over four decades of experience. In this role, he oversees all operational aspects of the company’s silver mines and development projects across the Americas, ensuring safety, efficiency, and long-term sustainability.

Born in 1961 in Bisbee, Arizona, Holmes was raised in a mining family. His father, an underground miner, was transferred to Safford, AZ in 1973, where Holmes continued his upbringing. He graduated from Douglas High School in 1979 and enrolled at The University of Arizona as a Mining Engineering student, motivated by a strong desire to contribute to the mining industry and inspired by his family’s deep roots in the field.

After earning his degree in 1983, Holmes began his career with Phelps Dodge in Morenci as a junior ore control engineer. Just six weeks later, he was thrust into the realities of mining life, working 12-hour night shifts as a smelter converter skimmer during a labor strike. Over the years, he held various supervisory and management roles at Morenci, Chino Mines, El Paso, and Sierrita, gaining firsthand experience in both technical and leadership capacities.

In 2003, Holmes returned to Safford to establish and lead the Mine Technology Group. Under his guidance, the team completed feasibility studies, NEPA permitting, and land exchanges, ultimately securing board approvals for the Safford Project under both Phelps Dodge and Freeport-McMoRan. His leadership helped lay the groundwork for one of the company’s most significant development efforts.

In June 2009, he became General Manager at Asarco’s Ray copper operation. He later joined Quadra FNX (later KGHM), where he partnered with Sumitomo to develop the large-scale Sierra Gorda Copper Mine in Chile. From 2011 to 2015, he served as VP of Operations, then moved to Vancouver as COO of KGHM International, managing operations in Canada, the U.S., and Chile.

In 2019, Holmes joined Barrick Gold to support global joint ventures before assuming his current role at First Majestic in 2020.

He also holds an MBA from Western New Mexico University (2000), which he credits for enhancing his understanding of mining’s complex business landscape, including finance, strategy, and global operations.

Holmes is deeply grateful to his wife, Cindy, for her unwavering support. Together, they cherish their four children, their spouses, and 13 grandchildren.

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