Video News/Mining Forum Americas 2026

Pan American Silver is targeting up to $1 billion in shareholder returns in 2026 while advancing a $1.9 billion expansion at La Colorada Skarn in Mexico. Speaking with Kitco Mining's Paul Harris at Mining Forum Americas 2026, President and CEO Michael Steinmann said strong cash flow and more than $3 billion in liquidity provide flexibility to fund development alongside dividends and share buybacks. The proposed expansion could lift La Colorada's silver production to approximately 19 million ounces annually during its peak five years, with an estimated 37-year mine life. Steinmann also sees further upside for silver as industrial demand grows and supply remains constrained, saying he would not be surprised by a move toward $150 or $200 per ounce over the next few years. On acquisitions, he warned that shortages of experienced mine-building teams could accelerate industry consolidation, while emphasizing disciplined valuations. Pan American is also preparing an economic assessment of its Timmins assets.