Pan American Silver Shares Timmins Update, Highlights Bell Creek Paste Plant
Pan American Silver has provided an update on its Timmins operation, comprised of the Timmins West and Bell Creek mines as well as the Bell Creek mill. Looking ahead to 2025, the company anticipates higher operating costs at Timmins due to additional expenses linked to the newly commissioned paste plant at Bell Creek.
Although the company’s 2024 results were strong overall—marked by record revenue and cash flow—no specific production figures for Timmins were disclosed. Michael Steinmann, President and CEO, commented on the broader performance: “Pan American generated record free cash flow of $196.2 million in Q4 and $445.1 million in 2024, reflecting strong metal prices, expanding margins, and solid operating performance, highlighted by strong silver and record annual gold production.”
Looking at 2025, Steinmann noted, “We are well positioned to continue generating robust operating margins in 2025, by prioritizing safe, sustainable operations and efficient cost management. We are in a strong financial position with $1.6 billion of total available liquidity to provide solid shareholder returns through dividends and opportunistic share buybacks, while pursuing our strategic initiatives.”
Within Timmins, approximately $1.5 million of project capital was allocated to finalize construction of the Bell Creek paste backfill plant, which is now fully operational. By stabilizing ground conditions and improving mineral resource recovery, the new plant is expected to enhance operational efficiency.
By Kevin Vincent, Senior Contributing Editor to Mining Life Online and Mining Life & Exploration News.
Tags: Northern Ontario / Operational Updates / Gold / All Articles