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Pan American Silver reports 2022 silver and gold production within guidance

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(Kitco News) - Pan American Silver (NASDAQ: PAAS) (TSX: PAAS) yesterday reported consolidated silver production of 18.5 million ounces in 2022, down 3.6% over 2021 (19.2 million ounces) and within the revised guidance range of 18.0 to 18.5 million provided on November 9, 2022.

The company said that its 2022consolidated silver production was only modestly below the original guidance of 19.0 to 20.5 million ounces provided on February 23, 2022.

PAAS added that consolidated gold production in 2022 of 552.5 thousand ounces (2021: 579.3 thousand ounces) was within the original guidance range of 550.0 to 605.0 thousand ounces provided on February 23, 2022.

The company said that consolidated zinc production in 2022 of approximately 38 thousand tonnes (2021: 49.4 thousand tonnes) was within guidance of 35 - 40 thousand tonnes, and lead production of approximately 18 thousand tonnes (2021: 18.1 thousand tonnes) was above guidance of 15 - 17 thousand tonnes.

According to a press release, the company’s copper production in 2022 of approximately 5 thousand tonnes (2021: 8.7 thousand tonnes) was modestly below guidance of 5.5 - 6.5 thousand tonnes, based on the original guidance ranges provided on February 23, 2022.

"I am very pleased with our team's efforts to deliver production results in line with our guidance for 2022. Q4 2022 results were led by strong production at Shahuindo and La Arena, as expected," said President and CEO Michael Steinmann.

Pan American owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. The company also owns the Escobal mine in Guatemala that is currently not operating.

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