Pan American Silver was founded in 1994. The Company's mission is to be the largest and lowest cost primary silver mining company globally, and to achieve this by constantly increasing its low cost silver production and its silver reserves. By 2009, the Company expects its silver production to have grown to 25 million ounces per year.

To realize this mission, Pan American has a focused strategy of low cost silver production growth through exploration, development and construction, which has uniquely positioned it to take full advantage of today's bull market for silver.

In 2002, the Company owned and operated four silver producing assets. By the end of 2006, it had grown its portfolio to seven operating mines, with an eighth under construction - a considerable group of silver producing assets operated by a single primary silver producing company.