Operations
Building the right projects to grow value.
- 280 Moz Silver Reserves, Proven + Probable*
- 24.8 Moz Silver Produced*
- $3.35 Cash Costs per Ounce*
Diversified Portfolio
Prior to the acquisition of Tahoe Resources Inc., the respective silver production in 2018 from each of Pan American Silver's operating jurisdictions is provided below.
Mexico
Peru
Bolivia
Argentina
Operating Mines
Pan American Silver has a diversified portfolio of mining and exploration assets located throughout the Americas. On February 22, 2019, Pan American Silver completed its acquisition of Tahoe Resources Inc., expanding Pan American Silver's portfolio to 10 mines located in Mexico, Peru, Canada, Bolivia, and Argentina. In addition, Pan American owns the Escobal mine in Guatemala that is currently not operating.
La Colorada
The expansion of our La Colorada mine achieved design throughput rates of 1,800 tonnes per day by mid-2017, six months ahead of schedule. The improvement in efficiency and productivity is resulting in lower costs and higher silver, zinc and lead production.
| Location: | Zacatecas, Mexico |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Silver, zinc, lead, gold |
Dolores
Pan American completed an expansion of its Dolores mine in 2017. Over the next 3 years, average silver production is expected to increase by approximately 27% and gold by 69% compared with 2015 production levels when the expansion was approved.
| Location: | Chihuahua, Mexico |
| Ownership: | 100% |
| Mine Type: | Open Pit/Underground |
| Metals: | Silver, gold |
Huaron
Our Huaron mine produces silver-rich lead, zinc and copper concentrates. Mechanization of the operations in recent years has improved productivity and resulted in lower operating costs.
| Location: | Pasco, Peru |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Silver, zinc, lead, copper, gold |
Morococha
Our Morococha mine produces silver-rich lead, zinc and copper concentrates. Mechanization of the operations in recent years has improved productivity and resulted in lower operating costs.
| Location: | Yauli, Peru |
| Ownership: | 92.3% |
| Mine type: | Underground |
| Metals: | Silver, zinc, lead, copper, gold |
San Vicente
San Vicente is Pan American’s highest-grade silver mine, and where we are currently mechanizing additional areas of the mine for greater efficiency and productivity.
| Location: | Potosí, Bolivia |
| Ownership: | 95% |
| Mine type: | Underground |
| Metals: | Silver, zinc, lead and copper |
Manantial Espejo
Pan American is extracting further value from our operations at Manantial Espejo with the addition of two high-grade silver properties: Joaquin and COSE. Silver production from our Manantial Espejo operations is estimated to total 21 million ounces over the 2018 to 2021 time period.
| Location: | Santa Cruz, Argentina |
| Ownership: | 100% |
| Mine type: | Underground |
| Metals: | Silver, gold |
Shahuindo
Shahuindo is an open-pit, heap leach gold mine. The operation has a capacity of 36,000 tonnes per day.
| Location: | Cajamarca, Peru |
| Ownership: | 100% |
| Mine Type: | Open pit |
| Metals: | Gold |
La Arena
La Arena is an open-pit, heap leach gold mine. The operation has a capacity of 36,000 tonnes per day.
| Location: | La Libertad, Peru |
| Ownership: | 100% |
| Mine Type: | Open pit |
| Metals: | Gold |
Escobal
Escobal is an underground silver-gold-lead-zinc mine. The operation has a capacity of 4,500 tonnes per day.
| Location: | Santa Rosa, Guatemala |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Silver, gold, lead, zinc |
Timmins
The Timmins Mines include the Timmins West Mine and the Bell Creek Mine and Mill complex, located in Timmins, Ontario, one of the world’s most prolific gold camps. The operations have a capacity of 4,400 tonnes per day.
| Location: | Ontario, Canada |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Gold |
Exploration
Pan American Silver engages in both near-site mine and regional exploration programs. In addition to the exploration potential across our diversified portfolio, Pan American Silver has interests in several exploration projects.
Exploration PropertiesOther Portfolio Assets
Pan American Silver holds investment interests in other publicly traded entities and owns several development stage projects. Most notable is our 100% owned Navidad Project, which offers investors exposure to one of the world’s largest undeveloped silver deposits.
Notes:
Figures exclude the assets acquired under the Plan of Arrangement with Tahoe Resources Inc., completed on Feb. 22, 2019.
Silver produced and cash costs per ounce are presented on a consolidated basis for the period ended Dec. 31, 2018.
For complete mineral reserve and resource information, refer to Mineral Reserves and Resources.
Cash costs per ounce is a non-GAAP measure; please refer to the Non-GAAP Measures.