Five global companies are investing 1.4 billion U.S. dollars to build six large-scale silver mines, which are expected to begin production by the end of 2009 with a combined annual capacity of 5,630 ounces.
1. San Cristobal Fortress, Bolivia
Apex Silver Mine owns the mining rights. The total investment amounts to 600 million U.S. dollars, and the mine began production in 2007. The mine operates using an open-pit mining method and employs flotation for ore beneficiation. Its annual production capacity is: 17 million ounces of silver, 167,000 tons of zinc, and 63,000 tons of lead. The ore reserves/resources total 231 million tons, with average grades of 63.08 grams per ton of silver, 1.59% zinc, and 0.58% lead. The mine has a lifespan of 16 years.
2. Mexico’s Penasquito
Glamis Gold owns the mining rights. The total investment amounts to US$334 million, and the mine began production in 2007. The mine operates using an open-pit mining method and employs heap leaching and flotation for mineral processing. Its annual production capacity is: 12.9 million ounces of silver, 193,000 ounces of gold, and 80,000 tons of zinc. The ore reserves/resources total 3.45 billion tons, with average grades of 15.36 grams per ton of silver, 0.25 grams per ton of gold, 0.31% zinc, and 0.28% lead.
3. Argentina Priquitas
Silver Standard Resources owns the mining rights. The total investment amounts to US$146 million, and the mine began production in 2008. The mine operates using an open-pit mining method and employs both gravity separation and flotation processes for ore beneficiation. Annual production capacity is: 9.1 million ounces of silver, 2,500 tons of tin, and 6,800 tons of zinc. The ore reserves/resources total 27.5 million tons, with average grades of 151.03 grams per ton of silver, 0.18% tin, and 0.57% zinc. The mine’s lifespan is 9.4 years.
4. San Bartolome, Peru
Coeur d’Alene Mine Company holds the mining rights. The total investment amounts to 135 million U.S. dollars, and the mine began production in 2007. The mine operates using an open-pit mining method and employs flotation for ore beneficiation. Its annual production capacity is 8 million ounces of silver. The ore reserves/resources total 42.9 million tons, with an average grade of 112.93 grams of silver per ton. The mine has a lifespan of 15 years.
5. Argentina Manantial Espejo
Pan American Silver owns the mining rights. The total investment amounts to US$122.3 million, and the mine began production in 2007. The mine employs a combined open-pit and underground mining approach and uses wet-process (hydrometallurgical) beneficiation. Its annual production capacity is 4.3 million ounces of silver and 62,000 ounces of gold. The ore reserves/resources total 9.5 million tons, with average grades of 162.86 grams of silver per ton and 2.16 grams of gold per ton. The mine’s projected lifespan is 8.5 years.
6. Alamo Dorado, Mexico
Pan American Silver owns the mining rights. The total investment amounts to US$76.6 million, and the mine began production in 2006. The mine operates using an open-pit mining method and employs flotation for ore beneficiation. Its annual production capacity is 5 million ounces of silver and 14,000 ounces of gold. The ore reserves/resources total 1.6 million tons, with average grades of 105.46 grams of silver per ton and 0.31 gram of gold per ton. The mine’s lifespan is 8 years.