- Business
- Pan American Silver Corp engages in the exploration, mine development, extraction, processing, refining, and reclamation of precious metals primarily silver and gold, along with significant production of zinc, lead, and copper. The company operates a diversified portfolio of mines including La Colorada and Dolores in Mexico; Huaron, Morococha, and Shahuindo in Peru; San Vicente in Bolivia; Manantial Espejo in Argentina; and Timmins West and Bell Creek in Canada, with additional mines and projects in development across the Americas. Founded in 1994 and headquartered in Canada, Pan American Silver serves industrial and commercial markets for precious and base metals, supporting sectors such as electronics, solar power, and jewelry manufacturing.
The company's core products include silver, gold, zinc, lead, and copper, with silver as the principal focus, producing over 21 million ounces annually and maintaining large proven and probable reserves exceeding 450 million ounces of silver as of mid-2025. Key assets comprise high-grade silver and gold mines, as well as exploration projects to expand its resource base.
Recent major developments include the completion of Pan American Silver's acquisition of MAG Silver Corporation in 2025, which added a 44% joint venture interest in the high-grade Juanicipio silver mine in Zacatecas, Mexico, operated by Fresnillo plc, alongside 100% ownership of the Larder exploration project and a 100% earn-in interest in the Deer Trail exploration project. This strategic acquisition significantly enhances Pan American’s silver production capacity, reserve base, cash flow, and exploration pipeline. The company also completed operational upgrades and infrastructure improvements across key mines including La Colorada and Jacobina in 2024, resulting in record production levels and financial performance. Pan American entered 2025 with cash and short-term investments totaling approximately $887 million, positioning it strongly for continued growth and strategic initiatives.
Pan American Silver operates across several countries in the Americas including Mexico, Peru, Bolivia, Argentina, Canada, and others, maintaining a reputation for sustainability, operational excellence, and prudent financial management. It remains a leading precious metals producer with a focus on silver and gold, supported by an expanding portfolio through both organic growth and strategic acquisitions.