Profile: Pan American Silver Corp (PAAS.O)
25 Jul 2014
Pan American Silver Corp. (Pan American), incorporated on March 7, 1979, engaged in the operation and development of, and exploration for, silver producing properties and assets. Pan American’s principal product is silver, although gold, zinc, lead, and copper are also produced and sold. As of December 31, 2011, Pan American carried on mining operations or was developing mining projects in Mexico, Peru, Argentina and Bolivia, and had control over non-producing silver assets. In March 2012, it acquired all of the issued and outstanding common shares of Minefinders Corporation Ltd.
The Huaron mine is owned and operated by Pan American Silver S.A. Mina Quiruvilca (Mina Quiruvilca), an entity in which the Company owns, indirectly through its subsidiaries 99.93% of the voting shares and 99.83% of the total equity as of December 31, 2011.
The Huaron mine is underground silver mine located in the Department of Pasco, Province of Pasco, District of Huayllay in central Peru, 320 kilometers northeast of Lima. The property consists of 252 concessions spanning over 63,822.2 hectares. The Huaron mine lies on the eastern flank of the West Cordillera branch of the Andean mountain range from an elevation of 4,250 meters to 4,800 meters above sea level.
The Morococha mine is owned and operated by Argentum, a Peruvian company in which the Company, through its subsidiary Pan American Peru, has a 92.01% voting interest (the remaining interest is held by Alejandro Gubbins and Compania Minera Casapalca S.A.). The Morococha property is located in the Morococha District, Yauli Province, Junin Department, Peru, on the east side of the continental divide just below Ticlo summit, approximately 38 kilometers west of the city of La Oroya and 137 kilometers east of Lima. Peru Copper Inc. (Peru Copper), a copper mining company carrying on business in Peru, acquired mining concessions and surface rights to the Toromocho property from Centromin.
The Alamo Dorado mine is located 45 kilometers south-southeast of the town of Alamos in the southeast corner of the State of Sonora. The Alamo Dorado mine consists of two contiguous mining concessions, the 509 hectare Alamo Ocho concession and the 4,865 hectare Alamo Dorado concession, and five exploration concessions covering 6,014 hectares, and surface rights covering 763.64 hectares. Alamo Dorado is a conventional surface mine that utilizes a 7.5 cubic meter hydraulic shovel, a 6.5 cubic meter front end loader and eight 53 ton mechanical trucks for the principal earthmoving.
Pan American Silver’s wholly owned subsidiary, Plata Panamericana S.A. de C.V. (Pan American Mexico), owns and operates the La Colorada mine. The La Colorada mine consists of 37 mining claims totaling approximately 2,864.1 hectares. In addition, Pan American also has control over approximately 571 hectares of surface rights covering the main workings, namely the Candelaria, Campana, Recompensa and Estrella/Amolillo mines.The La Colorada mine is located in the Chalchihuites district in Zacatecas State, Mexico, approximately 156 kilometers northwest of the city of Zacatecas and 99 kilometers south of the city of Durango.
Pan American holds 100% interest in Manantial Espejo. The mine is being operated through two Argentine companies, Minera Triton Argentina S.A. (MTA) and Minera Alto Valle S.A. (Alto Valle) The Manantial Espejo mine consists of 17 mineral concessions granted by the Mining Authority of the Province of Santa Cruz to MTA and Alto Valle, covering a total of 25,533 hectares and extending approximately 36 kilometers east-west and 19 kilometers north-south. The Manantial Espejo mine is located in the Province of Santa Cruz, Argentina.
The Company has a 95% interest in Pan American Silver (Bolivia) S.A. (PASB), a Bolivian company that owns a 50% joint venture interest in, and is the operator of, the San Vicente project. The remaining interest in the joint venture project is held by Corporacion Minera de Bolivia (COMIBOL), the Bolivian state mining company. The project consists of 15 concessions totaling 8,159 hectares. San Vicente is located 460 kilometers south of the city of Oruro and 300 kilometers west of Tarija.
The Navidad property is located in Gastre Department in the Province of Chubut, southern Argentina. The Navidad property is flanked by the communities of Gastre to the northwest, Gan Gan to the east and Blancuntre and Lagunita Salada to the southwest.
Pan American Silver Corp
Suite 1500, 625 Howe Street
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