Mining, Developing & Exploring

Operations

 

 

Since its inception in 2004, Pan American has built a large portfolio of silver mines in Latin America and the Company now operates seven mines in Mexico, Peru, Bolivia and Argentina, having built or expanded five of them in the period comprised between 2003 and 2014.

 

In 2013, Pan American achieved record production of 26.0 million ounces of silver and 149,800 ounces of gold. The Company continues to be the second largest primary silver producer in the world. Last year, approximately 51% of our total silver production came from our three Mexican operations, 22% came from our two Peruvian operations, 15% came from our Bolivian mine and 12% came from our Argentinean mine.

 

Pan American is an excellent vehicle for investors looking for exposure to silver. In 2013, silver sales accounted for 64% of our total revenue. In addition, gold sales accounted for 21% of our total revenue and zinc, lead and copper contributed 8%, 3%, and 4% of our revenue, respectively.

 

Pan American also possesses an industry-leading mineral reserve book. At December 31, 2013, the Company had 323.5 million ounces of silver in proven and probable mineral reserves. In addition, the Company had 715.4 million ounces of silver in measured and indicated mineral resources, and 297.7 million ounces of silver in inferred mineral resources.

 

The Company also has 2.5 million ounces of proven and probable mineral gold reserves, 1.6 million ounces of measured and indicated mineral gold resources and 1.3 million ounces of inferred gold resources.

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