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| logo_size = 280px
| logo_size = 280px
| type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{tsx|PAAS}}<br>{{NASDAQ|PAAS}}
| traded_as = {{tsx|PAAS}}<br>{{NYSE|PAAS}}
| foundation = 1994
| foundation = 1994
| location = [[Vancouver]], Canada
| location = [[Vancouver]], Canada
| key_people = Michael Steinmann, CEO
| key_people = Michael Steinmann, CEO
| num_employees = 7,300
| num_employees = 7,300
| revenue = [[Image:Green Arrow Up.svg|12px]] US$301 million (2007)
| revenue = [[Image:Green Arrow Up.svg|12px]] US$1,631 million (2021)
| industry = [[Metals]]
| industry = [[Metals]]
| homepage = {{URL|http://www.panamericansilver.com}}
| homepage = {{URL|http://www.panamericansilver.com}}
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In 2012, Pan American acquired Minefinders Corporation for C$1.5 billion; Minefinders principal asset was the [[Dolores mine|Dolores Mine]] in Mexico.<ref>{{Cite news|url=https://www.reuters.com/article/us-minefinders-panamerican/pan-american-silver-to-buy-minefinders-for-c1-5-billion-idUSTRE80M20020120123|title=Pan American Silver to buy Minefinders for C$1.5 billion|date=2012-01-23|work=Reuters|access-date=2018-11-07|language=en-US}}</ref> In 2018, it temporarily curtailed operations at its Dolores mine in Mexico, due to violence in the area.<ref name=":1" />
In 2012, Pan American acquired Minefinders Corporation for C$1.5 billion; Minefinders principal asset was the [[Dolores mine|Dolores Mine]] in Mexico.<ref>{{Cite news|url=https://www.reuters.com/article/us-minefinders-panamerican/pan-american-silver-to-buy-minefinders-for-c1-5-billion-idUSTRE80M20020120123|title=Pan American Silver to buy Minefinders for C$1.5 billion|date=2012-01-23|work=Reuters|access-date=2018-11-07|language=en-US}}</ref> In 2018, it temporarily curtailed operations at its Dolores mine in Mexico, due to violence in the area.<ref name=":1" />

In 2020, research carried out by [[EJAtlas]], [[MiningWatch Canada]], Earthworks and the [[Institute for Policy Studies]] found that Pan-American Silver was involved in several [[Environmental conflict|environmental conflicts]] in Latin America and that these conflicts "demonstrate a lack of respect for communities defending their territories from mining."<ref>{{Cite web |title=Conflict and harm at Pan American Silver |url=https://theecologist.org/2020/mar/04/conflict-and-harm-pan-american-silver |access-date=2022-12-12 |website=theecologist.org |date=4 March 2020 |language=en}}</ref>


=== Tahoe resources acquisition ===
=== Tahoe resources acquisition ===
{{Further|Tahoe Resources}}
{{Further|Tahoe Resources}}
In November 2018, Pan American announced it would acquire [[Tahoe Resources]], a Nevada-based mining firm with mines in Latin America and Canada, for $1.1 billion or about $5 a share.<ref name=":3">{{Cite news|url=https://www.reuters.com/article/us-tahoe-resources-m-a-pan-amer-silver/pan-american-silver-to-buy-tahoe-resources-for-1-1-billion-idUSKCN1NJ0ZD|title=Pan American Silver offers $1.1 billion to buy out Tahoe|last=Taylor|first=Susan|work=Reuters|access-date=2018-11-17|language=en-US}}</ref><ref name=":4">{{Cite web|last1=Colgrove|first1=Sarah|last2=Imai|first2=Shin|title=Investors are increasingly shunning mining companies that violate human rights|url=http://theconversation.com/investors-are-increasingly-shunning-mining-companies-that-violate-human-rights-154702|access-date=2021-04-18|website=The Conversation|language=en}}</ref> Tahoe's largest asset was its shuttered Escobal Silver Mine in Guatemala, which faced [[Escobal mine protests|widespread protests]] and had significant human rights violations where security guards shot locals, leading to a high profile court case.<ref name=":4" /> Markets reacted to the news, with Pan American's share price falling 12% whereas Tahoe's rose 50%.<ref>{{Cite web|url=https://www.fool.com/investing/2018/11/14/heres-why-tahoe-resources-soared-almost-50-today.aspx|title = Here's Why Tahoe Resources Soared Almost 50% Today|date = 14 November 2018}}</ref>
In November 2018, Pan American announced it would acquire [[Tahoe Resources]], a Nevada-based mining firm with mines in Latin America and Canada, for $1.1 billion or about $5 a share.<ref name=":3">{{Cite news|url=https://www.reuters.com/article/us-tahoe-resources-m-a-pan-amer-silver/pan-american-silver-to-buy-tahoe-resources-for-1-1-billion-idUSKCN1NJ0ZD|title=Pan American Silver offers $1.1 billion to buy out Tahoe|last=Taylor|first=Susan|work=Reuters|access-date=2018-11-17|language=en-US}}</ref><ref name=":4">{{Cite web|last1=Colgrove|first1=Sarah|last2=Imai|first2=Shin|title=Investors are increasingly shunning mining companies that violate human rights|url=http://theconversation.com/investors-are-increasingly-shunning-mining-companies-that-violate-human-rights-154702|access-date=2021-04-18|website=The Conversation|date=22 February 2021 |language=en}}</ref> Tahoe's largest asset was its shuttered [[Escobal mine|Escobal Silver Mine]] in Guatemala, which faced [[Escobal mine protests|widespread protests]] and had significant human rights violations where security guards shot locals, leading to a high profile court case.<ref name=":4" /> Markets reacted to the news, with Pan American's share price falling 12% whereas Tahoe's rose 50%.<ref>{{Cite web|url=https://www.fool.com/investing/2018/11/14/heres-why-tahoe-resources-soared-almost-50-today.aspx|title = Here's Why Tahoe Resources Soared Almost 50% Today|date = 14 November 2018}}</ref>


== Operations ==
== Operations ==
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* [[La Colorada mine|La Colorada Mine]] in [[Zacatecas]], Mexico, with 2017 production of 7.1 MOz of Silver
* [[La Colorada mine|La Colorada Mine]] in [[Zacatecas]], Mexico, with 2017 production of 7.1 MOz of Silver
* [[Dolores mine|Dolores Mine]] in [[Chihuahua (state)|Chihuahua]], Mexico, with 2017 production of 4.2 MOz of Silver
* [[Dolores mine|Dolores Mine]] in [[Chihuahua (state)|Chihuahua]], Mexico, with 2017 production of 4.2 MOz of Silver
* [[Huaron mine|Huaron Mine]] in [[Pasco Region]], Peru, with 2017 production of 3.7 MOz of Silver
* [[Huarón mine|Huarón Mine]] in [[Pasco Region]], Peru, with 2017 production of 3.7 MOz of Silver
* [[San Vicente mine|San Vincente Mine]] in [[Potosí Department]], Bolivia, with 2017 production of 3.6 MOz of Silver
* [[San Vicente mine|San Vincente Mine]] in [[Potosí Department]], Bolivia, with 2017 production of 3.6 MOz of Silver
* [[Manantial Espejo mine|Manantial Espejo Mine]] in [[Santa Cruz Province, Argentina|Santa Cruz]], Argentina, with 2017 production of 3.1 MOz of Silver
* [[Manantial Espejo mine|Manantial Espejo Mine]] in [[Santa Cruz Province, Argentina|Santa Cruz]], Argentina, with 2017 production of 3.1 MOz of Silver

Latest revision as of 05:53, 19 April 2024

Pan American Silver Corporation
Company typePublic
TSX: PAAS
NYSE: PAAS
IndustryMetals
Founded1994
HeadquartersVancouver, Canada
Key people
Michael Steinmann, CEO
Revenue US$1,631 million (2021)
Number of employees
7,300
Websitewww.panamericansilver.com

Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.

It is one of the world's biggest silver producers;[1] in 2017 the company extracted 25 million ounces of Silver, 160,000 ounces of Gold, 55,300 ounces of Zinc, 21,500 tonnes of Lead, and 13,400 tonnes of Copper.[2]

History[edit]

Pan American Silver was founded in April 1994 by Ross Beaty.[3] Beaty had previously founded and run Equinox Resources, which he eventually sold to an American mining company.[3] It listed on NASDAQ in 1995 and acquired its Quiruvilca mine in the same year.[4] In 1998, it acquired the La Colorada Mine in Mexico, and in 2000 it acquired the Huaron mine in Peru.[4]

In 2012, Pan American acquired Minefinders Corporation for C$1.5 billion; Minefinders principal asset was the Dolores Mine in Mexico.[5] In 2018, it temporarily curtailed operations at its Dolores mine in Mexico, due to violence in the area.[1]

In 2020, research carried out by EJAtlas, MiningWatch Canada, Earthworks and the Institute for Policy Studies found that Pan-American Silver was involved in several environmental conflicts in Latin America and that these conflicts "demonstrate a lack of respect for communities defending their territories from mining."[6]

Tahoe resources acquisition[edit]

Further information: Tahoe Resources

In November 2018, Pan American announced it would acquire Tahoe Resources, a Nevada-based mining firm with mines in Latin America and Canada, for $1.1 billion or about $5 a share.[7][8] Tahoe's largest asset was its shuttered Escobal Silver Mine in Guatemala, which faced widespread protests and had significant human rights violations where security guards shot locals, leading to a high profile court case.[8] Markets reacted to the news, with Pan American's share price falling 12% whereas Tahoe's rose 50%.[9]

Operations[edit]

As of November 2018, Pan American has six operating mines:[10]

See also[edit]

References[edit]

  1. ^ a b "Mexico violence hits Canadian silver miner's operations | CBC News". CBC. Retrieved 2018-11-07.
  2. ^ "Pan American Silver - 2017 Annual Report" (PDF).
  3. ^ a b Mckenzie, Kevin Hinton & Ryan. "Miner to missionary: The Ross Beaty story". BCBusiness. Retrieved 2018-11-07.
  4. ^ a b "History | Pan American Silver | Corporate Site". Pan American Silver | Corporate Site. Retrieved 2018-11-07.
  5. ^ "Pan American Silver to buy Minefinders for C$1.5 billion". Reuters. 2012-01-23. Retrieved 2018-11-07.
  6. ^ "Conflict and harm at Pan American Silver". theecologist.org. 4 March 2020. Retrieved 2022-12-12.
  7. ^ Taylor, Susan. "Pan American Silver offers $1.1 billion to buy out Tahoe". Reuters. Retrieved 2018-11-17.
  8. ^ a b Colgrove, Sarah; Imai, Shin (22 February 2021). "Investors are increasingly shunning mining companies that violate human rights". The Conversation. Retrieved 2021-04-18.
  9. ^ "Here's Why Tahoe Resources Soared Almost 50% Today". 14 November 2018.
  10. ^ "Operations | Pan American Silver | Corporate Site". Pan American Silver | Corporate Site. Retrieved 2018-11-07.
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