About
Pan American Silver provides enhanced exposure to silver through large silver reserves and catalysts to grow silver production.
2024 Goals & Performance
We set ESG goals to drive meaningful progress in key areas, ensuring continuous improvement. The table below highlights our commitments and tracks our performance.
2024 Goals 2024 Performance 2024 Commentary Achieve zero significant environmental incidents (SEIs) or Category 4 (C4). 
No SEIs or C4 incidents at our operations Achieve 90% of environmental audit corrective actions completed on time.(1) 
The goal was achieved at Timmins and Jacobina; however, only 40% of corrective actions were completed on time(1) at San Vicente. Additional mitigation and monitoring measures were implemented by the site for the outstanding actions. Implement projects and initiatives to reduce water withdrawn for use by 66,000 m3, which represents approximately 0.4% of the 2024 base case.(2) Exceeded goal, with projects implemented resulting in a reduction of over 220,000 m3 , which represents approximately 1.5% of the 2024 base case.(2) Implement projects and initiatives to reduce energy use by 23,000 GJ, which represents approximately 0.3% of the 2024 base case.(2) Exceeded goal, with projects implemented resulting in a reduction of over 36,800 GJ, which represents approximately 0.5% of the 2024 base case.(2) Implement projects and initiatives to reduce GHG emissions by 2,000 t CO2Eq, which represents approximately 0.5% of the 2024 base case.(2) Exceeded goal, with projects implemented resulting in a reduction of over 2,500 t CO2 Eq, which represents approximately 0.6% of the 2024 base case.(2) Complete 44 hectares of cover installation on waste dumps at Alamo Dorado, and conduct interim reclamation projects at our active operations. Post-closure and reclamation activities continued. However, the goal was not achieved at Alamo Dorado, primarily due to delays caused by renegotiations of a land use agreement and equipment availability. The agreement is now in place to support the remaining mine closure activities. Achieve 55 hectares of revegetation across all our operations. Exceeded goal, rehabilitating over 76 hectares across our operations. Implement projects and initiatives to reduce non-recycled and/or non-reused non-rock waste by 860 t, which represents approximately 6% of the 2024 base case.(2) Exceeded goal, with projects implemented resulting in a reduction of over 960 tonnes, which represents approximately 7.3% of the 2024 base case.(2) 2024 Goals 2024 Performance 2024 Commentary Achieve zero fatalities. We tragically incurred two fatalities in 2024 (one in Huaron, and one at Dolores). Maintain a frequency of lost time injuries with high fatality potential (LT-HPIF) of 0.31 or better. LT-HPIF rate of 0.26 per million hours worked. Maintain a ratio of Lost Work Days [i.e. Severity] to exposure of Non-Fatal Lost Time Injuries (NF-LTIS) of 59 or better. NF-LTIS ratio of 37 per million hours worked. Minimize the possibility of incident reoccurrence by applying Corrective and Preventative Actions (CAPA)(3) totaling a score of at least 30 points. Exceeded goal, approving and applying 12 CAPAs, totaling a score of 60 points.(3) Achieve zero new significant social disputes(4) at our operations. No new social disputes at our operations. Resolve 90% of all medium and high-risk grievances received through our community response mechanisms within the target timeframe.(5) Exceeded goal, resolving 98% of all medium and high-risk grievances received, with a 31 day average closure time.(5) Complete 85% of action plans addressing audit findings by year end (only applicable for Chile and Brazil in 2024). Completed an average of 92% of the action plans addressing audit findings by year end at Chile and Brazil: Minera Florida (85%), El Peñon (100%), and Jacobina (90%). Achieve 85% of planned social closure activities at Dolores and Manantial Espejo mines in compliance with the Corporate Social Closure Standard. Completed an average of 85% of the social closure activities included in the Dolores and Manantial Espejo action plans. Graduate 100 employees from our Leadership Development Program (# of employees completing two modules). Exceeded goal, with 105 graduates completing the two-week Leadership Development Program. Hire women for at least 15% of all approved and budgeted vacant positions plus all new eligible positions; and retain 85% of women employees within the PAAS Workforce from January 1, 2024 (excluding involuntary terminations). Exceeded goal, hiring 22.9% (31 women hired from 135 approved and budgeted vacant positions), and retaining 92.8% of women employees (excluding involuntary terminations). Train all security contractors in human rights and use of force, and all security employees in human rights. 100% of security employees and contractors received human rights training; 100% of security contractors received use of force training. 2024 Goals 2024 Performance 2024 Commentary Train at least 1,000 employees across all Pan American operations on compliance issues. Trained 1,150 employees across all jurisdictions on our compliance program, with a focus on risk management. Evaluate at least 250 critical suppliers through our due diligence procedure. Evaluated 264 suppliers through our new supplier due diligence platform focused on identifying Compliance, Human Rights, and Environmental risks. Complete TSM external verification of at least two of our operations. Completed four external verifications: La Colorada in Mexico, Huaron in Peru, San Vicente in Bolivia, and Cerro Moro in Argentina.
(1) Corrective actions completed within the agreed timeline in the final corporate environmental audit report.
(2) The 2024 base case includes our projected 2024 water use, energy use, GHG emissions, and waste generation, as calculated using our life of mine plans adjusted for annual production guidance.
(3) The Corrective and Preventative Actions (CAPA) developed by each site are evaluated and scored based on a hierarchy of controls. The scores associated with the hierarchy of controls are: Engineering = 4pts, Substitution = 8 pts, Elimination = 10pts.
(4) We define significant social disputes as grievances that cannot be resolved jointly within a reasonable time frame or require significant financial and legal resources to resolve. These disputes are escalated to site-level or country-level senior management to oversee the resolution process.
(5) Grievances should be acknowledged within 15 days of receipt and should be resolved within 60 days of receipt.
2025 ESG Goals
2025 Goals Prioritized UN SDGs UNGC Principles Achieve zero significant environmental incidents (SEIs) or Category 4 (C4) incidents. -
7, 8, 9
-
Complete 90% of environmental audit corrective actions completed on time.(1) -
7, 8
-
Implement projects and initiatives to reduce water withdrawn for use by 108,500 m3, which represents approximately 0.8% of the 2025 base case.(2) -
7, 8, 9
-
Implement projects and initiatives to reduce energy use by 67,000 GJ, representing approximately 1.1% of the 2025 base case.(2) -
7, 8, 9
-
Implement projects and initiatives to reduce GHG emissions by 27,500 t CO2Eq, representing approximately 8.3% of the 2025 base case.(2) -
7, 8, 9
-
Complete 29 hectares of remediation and revegetation at Alamo Dorado and Dolores. -
7, 8, 9
-
Rehabilitate 35 hectares across all our operations. -
7, 8, 9
-
Implement projects and initiatives to reduce non-recycled and/or non-reused non-rock waste by 500 t, representing approximately 4.0% of the 2025 base case.(2) -
7, 8, 9
-
-
2025 Goals Prioritized UN SDGs UNGC Principles Achieve zero fatalities. -
3, 4
-
1, 2
Maintain a frequency of lost-time injuries with high fatality potential (LT-HPIF) of 0.30 or better. -
3, 4
-
1, 2
Minimize the possibility of incident reoccurrence by applying Corrective and Preventative Actions (CAPA), totalling a score of at least 40 points.(3) -
3, 4
-
1, 2
Train at least 5% of the total number of employees at four of our operations in Human and Organizational Performance (HOP) principles. -
3, 4
-
1, 2
Achieve zero new significant social disputes(4) at our operations. -
3, 4, 5, 6
-
1, 2
Resolve 90% of all medium- and high-risk grievances received through our community response mechanisms within the target timeframe.(5) -
3, 4, 5, 6
-
1, 2
Complete 80% of action plans addressing audit findings by year end. -
3, 4,5,6
-
1, 2
Complete the planned annual social closure activities at Manantial Espejo and Dolores in accordance with the Corporate Social Closure Standard. -
6
-
1, 2
Achieve 80% Community Development Index (CDI) average performance for each socio-economic development program at San Vicente, Shahuindo, Dolores, Minera Florida, La Colorada and El Peñon. -
6
-
1,2
Select, develop and retain a target of 45 qualified and diverse professionals for the four stages of the Future PAAS program across all jurisdictions. -
3, 4,5,6
-
1, 2
Train all security contractors in human rights and use of force, and all security employees in human rights. -
3, 4, 5, 6
-
1, 2
-
2025 Goals Prioritized UN SDGs UNGC Principles Establish a monitoring system to ensure that no less than 90% of corrective actions arising from Whistleblower compliance investigations are implemented within the defined timeframe. -
1, 2
-
10
-
4, 5, 6
Train at least 850 employees across all sites on compliance issues. -
10
-
4,5,6
-
1,2
Evaluate at least 500 critical suppliers through our third-party risk management system. -
10
-
4,5,6
-
1,2
Complete TSM external verification of at least two of our operations. -
7,8,9
-
1,2
-
3,4,5,6
-
(1) Corrective actions completed within the agreed timeline in the final action plan.
(2) The 2025 base case is our projected 2025 water use, energy use, GHG emissions, and waste generation, as calculated using our life of mine plans adjusted for annual production guidance.
(3) The Corrective and Preventative Actions (CAPA) developed by each site are evaluated and scored based on a hierarchy of controls. The scores associated with the hierarchy of controls are: Engineering = 4pts, Substitution = 8 pts, Elimination = 10pts.
(4) We define significant social disputes as grievances that cannot be resolved jointly within a reasonable time frame or that require significant financial and legal resources to resolve. These disputes are escalated to site-level or country-level senior management to oversee the resolution process.
(5) Grievances should be acknowledged within 15 days of receipt and should be resolved within 60 days of receipt.
(6) The timeframe for corrective actions, carried out by local teams, is determined at the conclusion of each investigation. It may vary based on the complexity of the case to ensure both clarity and accountability.