https://www.miningweekly.com

Pan American Silver lifts La Colorada resources

Pan American Silver lifts La Colorada resources

Photo by Bloomberg

31st January 2014

By: Henry Lazenby

Creamer Media Deputy Editor: North America

  

Font size: - +

TORONTO (miningweekly.com) – TSX- and Nasdaq-listed Pan American Silver this week announced a 26% increase in the National Instrument 43-101-compliant proven and probable silver mineral reserves at its La Colorada mine, in Zacatecas, Mexico.

The Vancouver-based company said the combined proven and probable reserves now totalled 81.4-million ounces. However, net of 2013 silver output, the mine added about 16.7-million ounces of new silver reserves during the year.

In the past five years, Pan American had discovered 86-million ounces of new proven and probable silver mineral reserves at La Colorada, mainly in the NC2 and Amolillo veins.

Based on this exploration success, the company last month announced a mine expansion plan to lift the estimated yearly silver output from 4.6-million ounces to 7.7-million ounces in 2018, when the full expansion project would be complete.

The company last month said that based on the positive results of a recently completed preliminary economic assessment (PEA) the relatively low-risk expansion project had the potential to provide “robust” after-tax economic returns using a $19/oz long-term silver price.

The PEA contemplates an increase in silver output from the current level of about 4.7-million ounces a year, for an incremental capital investment of $80-million, the majority of which would be spent over the next three years.

Edited by Creamer Media Reporter

Article Enquiry

Email Article

Save Article

Feedback

To advertise email advertising@creamermedia.co.za or click here

Showroom

ASTPM
ASTPM

Established in 1983, the ASTPM is an industry association and representative body of the welded carbon steel tube and pipe manufacturers of South...

VISIT SHOWROOM 
AirNox Pty Ltd
AirNox Pty Ltd

AirNox (Pty) Ltd is a level 1 BBBEE manufacturer of complete AdBlue® solutions for operators of SCR diesel engines and AUS40 across South Africa...

VISIT SHOWROOM 

Latest Multimedia

sponsored by

Option 1 (equivalent of R125 a month):

Receive a weekly copy of Creamer Media's Engineering News & Mining Weekly magazine
(print copy for those in South Africa and e-magazine for those outside of South Africa)
Receive daily email newsletters
Access to full search results
Access archive of magazine back copies
Access to Projects in Progress
Access to ONE Research Report of your choice in PDF format

Option 2 (equivalent of R375 a month):

All benefits from Option 1
PLUS
Access to Creamer Media's Research Channel Africa for ALL Research Reports, in PDF format, on various industrial and mining sectors including Electricity; Water; Energy Transition; Hydrogen; Roads, Rail and Ports; Coal; Gold; Platinum; Battery Metals; etc.

Already a subscriber?

Forgotten your password?

MAGAZINE & ONLINE

SUBSCRIBE

RESEARCH CHANNEL AFRICA

SUBSCRIBE

CORPORATE PACKAGES

CLICK FOR A QUOTATION







sq:0.08 1.025s - 111pq - 2rq
Subscribe Now