GR Silver Mining Mourns the Death of CEO Márcio Fonseca

GR Silver Mining has announced the death of Márcio Fonseca, the company's President, CEO and Director. The company, as well as Mexico Business News, send their condolences to his family, friends and the mining community. His legacy, along with his optimism and care for people, will continue to impact the mining industry for years to come.

Fonseca co-founded GR Silver Mining in 2017 and spent nine years at the helm of the company's strategy and operations in Sinaloa, holding roles across both its management and operations teams in Mexico. 

Executive Chair Eric Zaunscherb said the company would carry forward Fonseca's legacy. "Our hearts are heavy today with the passing of our dear friend and colleague Márcio. Márcio did everything with absolute passion and integrity; his big heart and dedication radiated through our Company. Márcio is a great example of true and honest leadership to all of us in the mining industry and we will miss him greatly. One of Márcio's legacies is a talented team of explorationists and administrators in Canada and Mexico that will continue to make him proud as we move the Company forward."

The Board of Directors has appointed Zaunscherb as Interim President and Interim CEO. He previously held the CEO role from Feb. 28, 2022, to June 30, 2025.

Fonseca's Career

Fonseca was a firm believer in the potential of the Plomosas project, located in the Sierra Madre Occidental, which he saw as a low-cost restart opportunity with modern infrastructure, existing permits and minimal implementation risk. He often spoke about Mexico's underappreciated mining potential, noting that uncertainty had obscured the country's opportunities for investors. "There are many benefits to continuing developing this industry in Mexico," he said in a previous interview with Mexico Business News. From the outset, he prioritized local development, building a team that was entirely Mexican and forging alliances with local suppliers.

Before co-founding GR Silver Mining, Fonseca accumulated more than 30 years of experience in mining and mining finance. He began his career as an exploration geologist in Brazil, later holding roles at Echo Bay Mines, Phelps Dodge and Vale. He then spent nine years at Macquarie Group managing transactions between US$10 million and US$250 million, followed by a role as Vice President of Corporate Development at SilverCrest Mines, which was acquired by First Majestic Silver Corp in 2015. He later founded 3rd Peak Capital Inc. before launching GR Silver Mining.

Fonseca was also a member of the Association of Professional Engineers and Geoscientists of the Province of British Columbia and the Australasian Institute of Mining and Metallurgy.

To read the expert contributions and interviews in which Fonseca participated for Mexico Business News, click here.