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{{Infobox company
{{Infobox_Company
| company_name = Pan American Silver Corporation
| name = Pan American Silver Corporation
| company_logo = [[File:Pan American Silver Logo.svg|280px]]
| logo = Pan American Silver Logo.svg
| logo_size = 280px
| company_type = [[Public company|Public]]
| type = [[Public company|Public]]
| traded_as = {{tsx|PAA}}<br>{{nasdaq|PAAS}}
| traded_as = {{tsx|PAAS}}<br>{{NYSE|PAAS}}
| foundation = 1994
| foundation = 1994
| location = [[Vancouver]], [[Canada]]
| key_people = Geoffrey Burns, CEO
| location = [[Vancouver]], Canada
| 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 = [http://www.panamericansilver.com www.panamericansilver.com]
| homepage = {{URL|http://www.panamericansilver.com}}
}}
}}


'''Pan American Silver Corporation''' is a [[mining]] company in [[Canada]]. The company has mines and other projects in the [[USA]], [[Mexico]], [[Peru]], [[Bolivia]] and [[Argentina]].
'''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;<ref name=":1">{{Cite news|url=https://www.cbc.ca/news/business/pan-american-silver-dolores-1.4680871|title=Mexico violence hits Canadian silver miner's operations {{!}} CBC News|work=CBC|access-date=2018-11-07|language=en-US}}</ref> 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]].<ref>{{Cite web|url=https://www.panamericansilver.com/assets/Financial-documents/2017/131772a079/2017-Annual-Report.pdf|title=Pan American Silver - 2017 Annual Report}}</ref>
In 2006 the company extracted ''709 tonnes'' of [[Silver]], ''2.1 tonnes'' of [[Gold]], ''59,000 tonnes'' of [[Zinc]], ''27,000 tonnes'' of [[Lead]] and ''5,700 tonnes'' of [[Copper]].


==History==
==History==
Pan American Silver was founded in April 1994 by Ross Beaty.<ref name=":0">{{Cite news|url=https://www.bcbusiness.ca/miner-to-missionary-the-ross-beaty-story|title=Miner to missionary: The Ross Beaty story|last=Mckenzie|first=Kevin Hinton & Ryan|work=BCBusiness|access-date=2018-11-07|language=en}}</ref> Beaty had previously founded and run Equinox Resources, which he eventually sold to an American mining company.<ref name=":0" /> It listed on [[NASDAQ]] in 1995 and acquired its [[Quiruvilca District|Quiruvilca]] mine in the same year.<ref name=":2">{{Cite news|url=https://www.panamericansilver.com/company/history/|title=History {{!}} Pan American Silver {{!}} Corporate Site|work=Pan American Silver {{!}} Corporate Site|access-date=2018-11-07|language=en-CA}}</ref> In 1998, it acquired the [[La Colorada mine|La Colorada Mine]] in Mexico, and in 2000 it acquired the [[Huaron mine]] in Peru.<ref name=":2" />
<ref>http://www.panamericansilver.com/company/history/</ref>
Pan American Silver is the continuing corporation of Pan American Energy Corporation, which was incorporated under the Company Act (British Columbia) on March 7, 1979. The Company underwent two name changes: in September 1984 to Pan American Minerals Corp., and finally in April 1995 the Company was renamed Pan American Silver Corp.


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" />
Pan American Silver was founded in April 1994 by Ross Beaty and John Wright, after Equinox Resources, which had been founded and built with a successfull gold mining company by Mr. Beaty, was taken over by a well-known U.S. mining company. Mr. Beaty realized that the fundamentals of the silver market warranted an increase in the long-term price of silver and that there were few well-valued and well-structured stocks available to investors interested in gaining exposure to silver.


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>
⚫
== References ==

{{reflist}}
=== Tahoe resources acquisition ===
{{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|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 ==
{{As of|2018|11}}, Pan American has six operating mines:<ref>{{Cite news|url=https://www.panamericansilver.com/operations/|title=Operations {{!}} Pan American Silver {{!}} Corporate Site|work=Pan American Silver {{!}} Corporate Site|access-date=2018-11-07|language=en-CA}}</ref>

* [[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
* [[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
* [[Manantial Espejo mine|Manantial Espejo Mine]] in [[Santa Cruz Province, Argentina|Santa Cruz]], Argentina, with 2017 production of 3.1 MOz of Silver
* [[Morococha mine|Morococha Mine]] in [[Junín Region]], Peru, with 2017 production of 2.6 MOz of Silver


==See also==
==See also==
*[http://www.panamericansilver.com/index.asp Official site]
* {{Official website|http://www.panamericansilver.com}}


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== References ==
⚫
[[Category:Companies listed on the Toronto Stock Exchange]]
{{Reflist}}
⚫
[[Category:Mining companies of Canada]]
[[Category:S&P/TSX Composite Index]]
⚫
[[Category:Silver mining companies]]


{{Authority control}}


⚫
[[Category:Companies listed on the Toronto Stock Exchange]]
{{Canada-company-stub}}
⚫
[[Category:Mining companies of Canada]]
⚫
[[Category:Silver mining companies of Canada]]

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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