About
Pan American Silver provides enhanced exposure to silver through large silver reserves and catalysts to grow silver production.
Technical & Reserve Information
| Name and quantity | Grade | Contained Metal | |||||||
|---|---|---|---|---|---|---|---|---|---|
| Name | Tonnes (Mt) | Ag (g/t) | Au (g/t) | Pb (%) | Zn (%) | Ag (Moz) | Au (Koz) | Pb (kt) | Zn (kt) |
| P&P Reserves | 24.7 | 334 | 0.35 | 0.79 | 1.30 | 264.5 | 278 | 196 | 320 |
| M&I Resources | 16.5 | 208 | 0.21 | 0.37 | 0.65 | 110.1 | 110 | 61 | 106 |
| Inferred Resources | 1.9 | 180 | 0.90 | 0.22 | 0.42 | 10.7 | 54 | 4 | 8 |
As of June 30, 2024. Please see the Company’s reserves and resources page for more detailed information.
ILO 169 Consultation Process
Operations have been suspended at Escobal since 2017. The Constitutional Court of Guatemala determined that the Guatemalan Ministry of Energy and Mines must conduct an ILO 169 consultation process with the Xinka Indigenous Peoples before the mining license for Escobal can be reinstated.
ILO 169 is the United Nations International Labor Organization convention regarding Indigenous and Tribal Peoples in Independent Countries. The aim of an ILO 169 process is to provide meaningful participation for constructive dialogue.
The ILO 169 consultation process for Escobal is led by Guatemala’s Ministry of Energy and Mines.
Pan American respects Indigenous Peoples’ right to consultation, and we are participating in good faith and in full respect to the terms of the Constitutional Court ruling, the ILO 169 consultation process and our Global Human Rights Policy.
The Consultation Process Phases
The Constitutional Court of Guatemala outlined the consultation process for Escobal, as described below. Phase 1 of the consultation process has been completed and the process moved to Phase 2 in July 2022.
Updates are provided through the Ministry of Energy and Mine’s website at:
https://mem.gob.gt/derecho-minero-escobal/**
Guatemala’s Ministry of Environment and Natural Resources shall work with the consultant responsible for Escobal’s Environmental Impact Study issued in 2011 and experts at two Guatemalan universities to review, define, and recommend the area of influence to be used by Guatemala’s Ministry of Environment and Natural Resources during the ILO 169 consultation process.
Status: The Ministry of Environment and Natural Resources completed the area of influence analysis and submitted it to the Ministry of Energy and Mines in November 2018. On February 5, 2020, the Supreme Court ruled that the Ministry of Environment and Natural Resources’ process for the determination of the area of influence was completed properly.
The primary purpose of the pre-consultation stage is to define and agree to the terms, timeline and mechanisms under which the consultation will take place. This phase is led by the Ministry of Energy and Mines and includes various government agencies, ministries, academic institutions and Xinka indigenous community leaders along with representatives from PAS Guatemala (Pan American’s subsidiary in Guatemala).
Status: The 8th pre-consultation meeting was held in July 2022, which concluded the pre-consultation phase. The consultation process is currently in Phase 2.
Guatemala’s Ministry of Energy and Mines leads the formal dialogue process, with the aim to achieve agreements amongst the main participants in the process: Xinka indigenous communities, the Ministry of Energy and Mines and PAS Guatemala (Pan American’s subsidiary in Guatemala).
Status: Underway
The Ministry of Energy and Mines submits the results of the consultation process to the Guatemalan Supreme Court. The Supreme Court certifies with all three parties that the ILO 169 consultation process as outlined in the Constitutional Court’s resolution has been followed.
Status: Awaiting completion of Phase 2
MORE ABOUT Escobal
The Escobal mine reached commercial production in January 2014. Escobal represents an important source of silver supply, a metal critical to the transition to a low carbon economy. From 2014 to 2017 when the mine was operating, it produced approximately 20 million ounces of silver per year. Escobal is one of the world’s largest primary silver deposits with reserves of 264 million ounces.
Both the mine and process were designed to minimize water consumption, waste generation, and environmental disturbance through a state-of-the-art paste backfill, filtered tailings, and a dry stack tailings facility.
To learn more about Escobal, please visit our dedicated website at https://pasguate.com
United Nations Global Compact
Pan American Silver Guatemala is a participant of the United Nations Global Compact, supporting its Ten Principles for sustainable development. Our 2023 Annual Communication on Progress reports on our continuous improvement and best practices in the areas of governance,
human rights, labor standards, environment and anti-corruption.
To learn more visit: Pan American Silver – Guatemala | UN Global Compact
Biodiversity Preservation at Escobal
Pan American’s biodiversity conservation plan for our Escobal operation in Guatemala has been successful in protecting wild cats.
Pan American Silver recognizes the importance of biodiversity to preserve ecosystems.
Related Documents & Resources
* Data is on a consolidated basis for the period ended December 31, 2023. All financial data is stated in U.S. dollars unless otherwise noted. Estimated mineral reserves as of June 30, 2024. For complete mineral reserve and resource information, refer to Mineral Reserves and Resources. Cash Costs and AISC per ounce are a non-GAAP measures; please refer to the Non-GAAP Measures notice.
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