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Pan American starts producing silver, zinc concentrates at San Vicente

Bnamericas Published: Wednesday, April 01, 2009
Vancouver-based Pan American Silver's (TSX: PAA) new processing facility has started churning out silver and zinc concentrates at its 95%-owned San Vicente mine in Bolivia's Potosí department. Construction of the 750t/d processing facility and expansion of the underground mine started in September 2007 and is nearly finished, the company said in a statement, adding that it anticipates reaching design capacity in the next few months. Pan American invested a total of US$70mn in the San Vicente expansion. "Only two weeks ago we inaugurated the Manantial Espejo mine in Argentina. Now with San Vicente's new processing plant in operation, we are right where we planned to be, setting ourselves up to produce 21.5Moz of silver this year," CEO Geoff Burns said. In 2009, the company expects to produce 1.9Moz of silver at San Vicente at a cash cost of some US$6.98/oz. Pan American also owns the Alamo Dorado and La Colorada mines in Mexico, and the Huarón, Quiruvilca and Morocha mines in Peru.

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