Company Description:

Pan American Silver is a leading producer of precious metals in the Americas, operating silver and gold mines in Canada, Mexico, Peru, Bolivia, Argentina, Chile and Brazil. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for nearly three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol «PAAS».

Pan American Silver strives to continuously improve its sustainability performance by implementing industry best practices and setting new goals to improve performance and manage risk. Our Environmental, Social and Governance (ESG) values include caring for the environment in which we operate; contributing to the long-term development of our host communities; ensuring safe and secure workplaces for our employees; contributing to the welfare of our employees, local communities, and governments; and, operating transparently.

Each of our operations is responsible for the development and implementation of procedures and programs that comply with our policies and
standards, and with corporate initiatives such as Towards Sustainable Mining (TSM).

TSM Performance Assessment:

Our operating sites self-assess their performance against the TSM protocols on an annual basis. In 2023, self-assessments were performed at Cerro Moro (Argentina), Dolores (Mexico), El Peñon (Chile), Huaron (Peru), Jacobina (Brazil), La Arena (Peru), La Colorada (Mexico), Minera Florida (Chile), San Vicente (Bolivia), Shahuindo (Peru), Timmins (Canada) and our Vancouver head office. Pan American Silver’s overall results for 2023 were strong and the Company achieved high levels of performance across most of the TSM protocols. 

TSM External Verification:

In 2022, external verification of TSM performance was completed at our Timmins operations in Canada. The external verification ratings confirmed and, in some cases, exceeded our own self-assessment.

In 2023, the Company expanded the TSM external verification process to include operating sites outside of Canada. In 2023, external verification was conducted at three facilities: La Arena and Shahuindo in Peru, and Dolores in Mexico. The external verification process confirmed level A and above for all indicators of all TSM protocols, except the Community Impact and Benefit Management indicator of the Indigenous and Community Relationships protocol at our Dolores mine, where we achieved level B.