Type | Public |
---|---|
TSX: PAAS Nasdaq: PAAS | |
Industry | Metals |
Founded | 1994 |
Headquarters | Vancouver, Canada |
Key people | Michael Steinmann, CEO |
Revenue | US$1,631 million (2021) |
Number of employees | 7,300 |
Website | www |
Pan American Silver Corporation is a mining company based in Canada with operations in Latin America. The company has mines and other projects in Mexico, Peru, Bolivia, and Argentina.
It is one of the world's biggest silver producers; [1] in 2017 the company extracted 25 million ounces of Silver, 160,000 ounces of Gold, 55,300 ounces of Zinc, 21,500 tonnes of Lead, and 13,400 tonnes of Copper. [2]
Pan American Silver was founded in April 1994 by Ross Beaty. [3] Beaty had previously founded and run Equinox Resources, which he eventually sold to an American mining company. [3] It listed on NASDAQ in 1995 and acquired its Quiruvilca mine in the same year. [4] In 1998, it acquired the La Colorada Mine in Mexico, and in 2000 it acquired the Huaron mine in Peru. [4]
In 2012, Pan American acquired Minefinders Corporation for C$1.5 billion; Minefinders principal asset was the Dolores Mine in Mexico. [5] In 2018, it temporarily curtailed operations at its Dolores mine in Mexico, due to violence in the area. [1]
In 2020, research carried out by EJAtlas, MiningWatch Canada, Earthworks and the Institute for Policy Studies found that Pan-American Silver was involved in several environmental conflicts in Latin America and that these conflicts "demonstrate a lack of respect for communities defending their territories from mining." [6]
In November 2018, Pan American announced it would acquire Tahoe Resources, a Nevada-based mining firm with mines in Latin America and Canada, for $1.1 billion or about $5 a share. [7] [8] Tahoe's largest asset was its shuttered Escobal Silver Mine in Guatemala, which faced widespread protests and had significant human rights violations where security guards shot locals, leading to a high profile court case. [8] Markets reacted to the news, with Pan American's share price falling 12% whereas Tahoe's rose 50%. [9]
As of November 2018 [update] , Pan American has six operating mines: [10]
Eldorado Gold Corporation is a Canadian company that owns and operates gold mines in Turkey, Greece and Canada. Since its merger with European Goldfields in 2011 the company has been pursuing the development of the Skouries mine, Olympias mine and Stratoni mine in Greece. The company previously developed and operated gold mines in China, Brazil and Mexico. Headquartered in Vancouver and listed on the Toronto and New York Stock Exchanges, Eldorado Gold has developed and operated assets from several merged companies HRC Developments Corporation, Afcan Mining Corporation, Sino Gold Mining, Brazauro Resources, Integra Gold, as well as European Goldfields.
Newmont Corporation is a gold mining company based in Greenwood Village, Colorado, United States. It is the world's largest gold mining corporation. Incorporated in 1921, it owns gold mines in Nevada, Colorado, Ontario, Quebec, Mexico, the Dominican Republic, Australia, Ghana, Argentina, Peru, and Suriname. In addition to gold, Newmont mines copper, silver, zinc and lead.
Goldcorp Inc. was a gold production company headquartered in Vancouver, British Columbia, Canada. The company employed about 15,800 people worldwide, engaged in gold mining and related activities including exploration, extraction, processing and reclamation. Goldcorp’s operating assets included four mines in Canada, two mines in Mexico, and four in Central and South America. As of the third quarter of 2014, Goldcorp was the world's fourth-largest producer of gold. On January 14, 2019, Goldcorp agreed to a merger acquisition by Newmont Mining Corporation, the world’s second-largest producer of gold, with the merged “Newmont Goldcorp” to be the world’s largest producer.
Hudbay Minerals Inc. is a diversified Canadian mining company primarily producing copper concentrate and zinc metal. Much of its history has centered on Flin Flon, Manitoba, where it has mined for over 90 years. Hudbay currently has operations in Manitoba and Peru, and is working towards building a copper mine in southern Arizona. The company also has exploration properties in Canada, Peru, Chile and the United States.
KGHM Polska Miedź S.A., commonly known as KGHM, is a Polish multinational corporation that employs around 34,000 people around the world and has been a major copper and silver producer for more than 50 years. In 1991, the company was established as a state enterprise and since 1997, their shares have been traded on the Warsaw Stock Exchange. Currently, KGHM operates 9 open-pit and underground mines located in Poland, Canada, the USA and Chile and is actively advancing 4 projects. KGHM produces key global resources including copper, copper sulphate, gold, silver, nickel, nickel sulphate, molybdenum, rhenium, lead, sulphuric acid, selenium, platinum group metals. KGHM is based in Lower Silesian Voivodeship in Lubin, Poland.
Yamana Gold Inc. is a Canadian company that owns and operates gold, silver and copper mines in Canada, Chile, Brazil and Argentina. Headquartered in Toronto, the company was founded in 1994 and became listed on the Toronto Stock Exchange in 1995, the New York Stock Exchange in 2007, and the London Stock Exchange in 2020. The company became a gold producer after its 2003 re-restructuring in which Peter Marrone took over as chief executive officer and it merged with Brazilian company Santa Elina Mines Corporation. The combined company was able to use Yamana's access to capital with Santa Elina development properties to bring the Chapada mine into production. From there the company combined with other TSX-listed companies RNC Gold, Desert Sun Mining, Viceroy Exploration, Northern Orion Resources, Meridian Gold, Osisko Mining and Extorre Gold Mines which each contributed either a producing mine or a development project that was able to come into commercial production.
Kinross Gold Corporation is a Canadian-based gold and silver mining company founded in 1993 and headquartered in Toronto, Ontario, Canada. Kinross currently operates six active gold mines, and was ranked fifth of the "10 Top Gold-mining Companies" of 2019 by InvestingNews. The company's mines are located in Brazil, Mauritania, and the United States. It trades under the KGC ticker in the New York Stock Exchange, and under K in the Toronto Stock Exchange.
Iamgold Corporation is a Canadian company that owns and operates gold mines in Burkina Faso, Suriname and Canada. Headquartered in Toronto, the company was incorporated in 1990, and went public on the Toronto Stock Exchange in 1996, with additional shares being listed on the New York Stock Exchange beginning in 2005. The company formerly owned or had stakes in the Sadiola and Yatela gold mines in Mali, the Mupane gold mine in Botswana, the Niobec niobium mine in Quebec, as well as a royalty in the Diavik Diamond Mine.
The mineral industry provides a major source of economic growth in Peru's national development. In 2019, the country was the 2nd largest world producer of copper and silver, 8th largest world producer of gold, 3rd largest world producer of lead, 2nd largest world producer of zinc, 4th largest world producer of tin, 5th largest world producer of boron and 4th largest world producer of molybdenum.
There are different methods by which gold mining companies are ranked. One is by their annual production. Another is by their cash cost per ounce, that is, how much money it costs them to mine the gold. Since gold prices are the same everywhere, companies with lower costs per ounce make more profit. The most common method lists by market capitalization which considers the total value of capital holdings by that company. Also considered when comparing companies is their market capitalization per ounce of gold equivalent which takes the market value and total reserves and resources for each company as well as the price of gold into consideration. The figures for each company can be used to determine the value the stock market gives to each company's reserves on an ounce to ounce basis.
Franco-Nevada Corporation is a Toronto, Ontario, Canada-based, gold-focused royalty and streaming company with a diversified portfolio of cash-flow producing assets. It is traded on the Toronto Stock Exchange and New York Stock Exchange.
The Abitibi gold belt is a region of Canada that extends from Wawa, Ontario to Val-d'Or, Quebec. Located within the mineral-rich Abitibi greenstone belt, the gold belt is an established gold mining district having produced over 100 mines, and 170 million ounces of gold since 1901. Timmins, a town founded in 1912 following the Porcupine Gold Rush and subsequent creation of the Hollinger Mines, McIntyre Mines and Dome Mine, which was one area in the region that experienced a gold rush, beginning in 1909. The Kerr Addison Mine in Virginiatown was at one time Canada's largest gold producing mine. Many of the towns readily acknowledge gold mining as part of their history, some being named after gold. One of Canada's 'large roadside attractions' is a 12-foot replica of a 1908 gold sovereign built to commemorate Canada's first gold coin which was made using gold from the Kerr Addison owned Kerr-Addison mine.
Wheaton Precious Metals Corp. is a Canadian multinational precious metals streaming company. It produces over 26 million ounces and sells over 29 million ounces of silver mined by other companies as a by-product of their main operations.
New Gold Inc. is a Canadian mining company that owns and operates the New Afton gold-silver-copper mine in British Columbia and the Rainy River gold-silver mine in Ontario, Canada. Through a Mexican subsidiary company, they also own the Cerro San Pedro gold-silver mine in San Luis Potosí, Mexico, which ceased operation in 2017. While New Gold was founded in 1980 for the purposes of mineral exploration, the company became a mine operator with its merger of Peak Gold and Metallica Resources in 2008. A fourth company, Western Goldfields, joined in 2009. Together they operated the Peak mine in Australia and Mesquite Mine in California but sold both in 2018. Headquartered in Toronto, shares of the company are traded on the Toronto Stock Exchange and NYSE American.
Royal Gold is one of the world's leading precious metals stream and royalty companies engaged in the acquisition and management of precious metal streams, royalties and similar production-based interests. Royal Gold owns a large portfolio of producing, development, evaluation and exploration stage streams and royalties on properties located in some of the world's most prolific gold regions and operated by some of the most well-known companies in the mining industry.
SSR Mining Inc., formerly Silver Standard Resources is a Denver based gold, silver, copper, lead and zinc producer that owns the largest silver mine in Argentina. In addition it engages in exploration activity throughout the Americas and Turkey. In 2020, SSR Mining merged with Alacer Gold. Since the merger, the company has moved headquarters to Denver, Colorado. Rodney P. Antal is now the President and CEO of SSR mining. In February 2021, SSR Mining announced that Alison White would be the new Executive Vice President and CFO. In addition, the rest of the Executive team at SSR mining was added following the closure of the merger between SSR and Alacer Gold. Stewart Beckman is the Executive Vice President and COO ; F. Edward Farid is the Vice President and CCDO. Michael J. Sparks is the Vice President and Chief Legal and Administrative Officer. In addition, the rest of the leadership team and information can be found on their website. The merger created a company worth $4.0 billion
Tahoe Resources Inc. was a mining company and intermediate precious metals producer with silver and gold mines in Canada, Guatemala and Peru. It was founded in Vancouver, British Columbia by Kevin McArthur, former CEO of Glamis Gold and Goldcorp. Incorporated in British Columbia, Canada, the company's U.S. headquarters is located in Reno, Nevada.
Dolores mine is an open pit silver and gold mine in the Mexican state of Chihuaua. It is owned by the Canadian company Pan-American Silver (PAS). The mine began production in 2008 and was expected to produce over $3 billion in profits. in 2010 the mine was expected to produce 80,000 ounces of gold and 4,000,000 ounces of silver per year for 17 years.
The Huarón Mining District is one of the richest polymetallic deposit clusters in Peru. It is located 20 km SSW of Cerro de Pasco, in the Huayllay District, Pasco Province, Pasco Department, between 4500 and 4700 m.a.s.l. The Huarón Mining District belongs to the Miocene polymetallic belt of the Central Andes. Hydrothermal mineralization occurs as predominantly in N-S to NNW-SSW and E-W veins as well as in "mantos" replacing favorable sedimentary rock. Epithermal hydrothermal fluids are thought to be derived from quartz-monzonitic intrusions tentatively dated at 7.4 Ma. The most important economic minerals are tennantite‐tetrahedrite, sphalerite, galena, and chalcopyrite. Silver is also found in pyrargyrite, proustite, polybasite, and pearceite. In the central copper core of the Huarón deposit, enargite occurs. Main gangue minerals are pyrite, quartz, rhodochrosite, and calcite.
Alamos Gold ("Alamos") is a Canadian multinational gold producer, headquartered in Toronto, Canada. Alamos operates three mines across North America, and has six further projects in development.