Over the last 28 years, Pan American Silver (Pan American) has been providing enhanced exposure to silver through large silver reserves and catalysts to grow silver production. Its purpose and values are to produce the metals people need as the world moves towards decarbonization and electrification.
Pan American has been third-party verified by the Mining Association of Canada for sustainable mining protocols, which is an international standard of operations achieved over the past two years. This level of recognition means that the company has attained level A or higher in the following protocols: Indigenous and Community Relationships, Tailings Management, Safety and Health, Biodiversity Conservation Management, Water Stewardship, Crisis Management and Communications Planning, Prevention of Child and Forced Labour and Energy and Greenhouse Gas Emission.
The company is proud of its strong commitment to sustainability and responsible mining practices.
Pan American’s achievement of this certification reflects its efforts to reduce its environmental impact and promote social and economic development in the communities where it operates. Pan American’s commitment to sustainability is also reflected in its strategic decisions, including a recent agreement with Yamana Gold Inc. (Yamana)
On Nov. 8, 2022, Pan American entered into an agreement with Yamana to acquire Yamana’s assets in Brazil, Chile, and Argentina. On Jan. 31, 2023, the Pan American and Yamana transaction was approved by shareholders on both sides. The transaction is expected to close in the first quarter of 2023, and it will add four producing mines plus a suite of highly promising development projects and exploration properties.
This strategic acquisition positions Pan American as one of the leading producers of silver and gold in the Americas. The addition of these assets is expected to significantly increase the company's silver and gold production, and Pan American expects to capture $40 million to $60 million in annual synergies. The team in Timmins, one of the most experienced and qualified in Pan American’s portfolio, will be an important contributor as the company looks to make continued improvements across all operations.
Pan American has successfully added resources to the Timmins mines, which gives the company confidence that it can continue extending mine life at Timmins well into the future. The company's commitment to sustainability and responsible mining practices will be critical in ensuring that its operations remain socially and environmentally responsible as it expands its presence in the Americas.
Pan American’s third-party verification for sustainable mining protocols and its strategic acquisition of Yamana’s assets demonstrate the company's commitment to sustainability and responsible mining practices.
Learn more about Pan American's operations and opportunities online here.