Operations
Building the right projects to grow value.
- 550 Moz silver reserves*
- 25.9 Moz silver production*
- $6.39 Cash Costs per Ounce Silver Segment*
Diversified Portfolio
Revenue Generated by Country in 2019*
Mexico
Peru
Bolivia
Argentina
Canada
Operating Mines
Pan American Silver has a diversified portfolio of mining and exploration assets located throughout the Americas. We own 10 mining operations, including the Escobal mine in Guatemala that is currently not operating.
La Colorada
Our La Colorada mine in Zacatecas, Mexico is our largest silver producer, following an expansion completed in late 2016. The mine is also rich in zinc and lead base metals.
| Location: | Zacatecas, Mexico |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Silver, zinc, lead, gold |
Dolores
Dolores is a silver/gold mine located in Chihuahua, Mexico that uses heap leaching technology to produce gold and silver doré. A pulp agglomeration plant was completed in 2017, enhancing and accelerating the recovery of gold and silver from higher-grade ore sourced from an open pit and an underground mine.
| Location: | Chihuahua, Mexico |
| Ownership: | 100% |
| Mine Type: | Open Pit/Underground |
| Metals: | Silver, gold |
Huaron
Our Huaron mine in Pasco, Peru produces silver-rich zinc, lead 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 in Yauli, Peru produces silver-rich zinc, lead 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
Our San Vicente mine is an underground silver-zinc mine located in Bolivia. An effort is currently underway to mechanize the operations for greater efficiency and productivity.
| Location: | Potosí, Bolivia |
| Ownership: | 95% |
| Mine type: | Underground |
| Metals: | Silver, zinc, lead and copper |
Manantial Espejo
We are extracting further value from our operations at Manantial Espejo, located in Santa Cruz, Argentina, with the addition of two high-grade silver properties: Joaquin and COSE.
| Location: | Santa Cruz, Argentina |
| Ownership: | 100% |
| Mine type: | Underground |
| Metals: | Silver, gold |
Shahuindo
Commercial production from this open pit, heap leach gold mine located in northern Peru began in 2016, and debottlenecking opportunities are being pursued to enhance operating efficiency.
| Location: | Cajamarca, Peru |
| Ownership: | 100% |
| Mine Type: | Open pit |
| Metals: | Gold |
La Arena
La Arena is an open pit, heap leach gold mine located in northern Peru. The mine also has sulphide expansion potential (La Arena II).
| Location: | La Libertad, Peru |
| Ownership: | 100% |
| Mine Type: | Open pit |
| Metals: | Gold |
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 Bell Creek Mill processes ore from both operations.
| Location: | Ontario, Canada |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Gold |
Escobal
Escobal is an underground silver mine located in southeast Guatemala. Mining operations are currently suspended, pending the outcome of an ILO 169 consultation process led by the Guatemalan government.
| Location: | Santa Rosa, Guatemala |
| Ownership: | 100% |
| Mine Type: | Underground |
| Metals: | Silver, gold, lead, zinc |
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:
Data is on a consolidated basis for the period ended December 31, 2019. Results for the mines acquired through Tahoe Resources Inc. are subsequent to the February 22, 2019, closing date of the acquisition.
Estimated mineral reserves as of June 30, 2020. 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.