VANCOUVER, BC, Dec. 21, 2021
/PRNewswire/ - Pan American Silver Corp. (NASDAQ:
PAAS) (TSX: PAAS) ("Pan American Silver") reports that, on
December 20, 2021, the executive of
the Province of Chubut in Argentina issued a decree to the legislature
to repeal the legislative bill passed on December 15, 2021 that would have modified the
provincial mining law to allow permitting of open pit mining in
certain zones in the Departments of Gastre and Telsen.
Pan American Silver owns 100% of the large Navidad silver project, which is located in
the north central part of the province. Pan American Silver
believes that properly permitted and regulated mining activity with
sustainable mining practices, both environmental and social, could
benefit the people of Chubut.
About Pan American Silver
Pan American Silver owns and operates silver and gold mines
located in Mexico, Peru, Canada,
Argentina and Bolivia. We also own the Escobal mine in
Guatemala that is currently not
operating. Pan American provides enhanced exposure to silver
through a large base of silver reserves and resources, as well as
major catalysts to grow silver production. We have a 27-year
history of operating in Latin
America, 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 NASDAQ
and the Toronto Stock Exchange under the symbol "PAAS".
Learn more at panamericansilver.com
Cautionary Note Regarding Forward-Looking Statements and
Information
Certain of the statements and information in this news release
constitute "forward-looking statements" within the meaning of the
United States Private Securities Litigation Reform Act of 1995 and
"forward-looking information" within the meaning of applicable
Canadian provincial securities laws. All statements, other than
statements of historical fact, are forward-looking statements or
information. Forward-looking statements or information in this news
release relate to, among other things: the anticipated impacts of
mining activities on the people of Chubut.
These forward-looking statements and information reflect Pan
American Silver's current views with respect to future events and
are necessarily based upon a number of assumptions that, while
considered reasonable by Pan American Silver, are inherently
subject to significant operational, business, economic and
regulatory uncertainties and contingencies. These assumptions
include: laws and regulatory requirements that would permit the
development of mining projects and conduct of mining activities;
the world-wide economic and social impact of COVID-19 is managed
and the duration and extent of the COVID-19 pandemic is minimized
or not long-term; our ability to manage properties on care and
maintenance efficiently and economically, including to maintain
necessary staffing; prices for silver, gold and base metals
remaining as estimated; currency exchange rates remaining as
estimated; capital, decommissioning and reclamation estimates; our
mineral resource estimates and the assumptions upon which they are
based; prices for energy inputs, labour, materials, supplies and
services (including transportation); no unplanned delays or
interruptions at our operations and projects; all necessary
permits, licenses and regulatory approvals and reviews are received
in a timely manner; our ability to secure and maintain necessary
title and ownership to properties and the surface rights; and our
ability to comply with environmental, health and safety laws. The
foregoing list of assumptions is not exhaustive.
Pan American Silver cautions the reader that forward-looking
statements and information involve known and unknown risks,
uncertainties and other factors that may cause actual results and
developments to differ materially from those expressed or implied
by such forward-looking statements or information contained in this
news release and Pan American Silver has made assumptions and
estimates based on or related to many of these factors. Such
factors include, without limitation: the duration and effects of
COVID-19, and any other pandemics on our operations and workforce,
and the effects on global economies and society; fluctuations in
silver, gold and base metal prices; fluctuations in prices for
energy inputs, labour, materials, supplies and services (including
transportation); fluctuations in currency markets (such as the PEN,
MXN, ARS, BOB, GTQ and CAD versus the USD); disruptions to the
global supply chain and logistics, including delivery of fuel and
critical parts and supplies; operational risks and hazards inherent
with the business of mining (including environmental accidents and
hazards, industrial accidents, equipment breakdown, unusual or
unexpected geological or structural formations, cave-ins, flooding
and severe weather); risks relating to the credit worthiness or
financial condition of suppliers, refiners and other parties with
whom Pan American Silver does business; inadequate insurance, or
inability to obtain insurance, to cover these risks and hazards;
employee relations; relationships with, and claims by, local
communities and indigenous populations; our ability to obtain all
necessary permits, licenses and regulatory approvals in a timely
manner; changes in laws, regulations and government practices in
the jurisdictions where we operate, including environmental, export
and import laws and regulations; changes in national and local
government, legislation, taxation, controls or regulations and
political, legal or economic developments in Canada, the United
States, Mexico,
Peru, Argentina, Bolivia, Guatemala or other countries where Pan
American Silver may carry on business, including legal restrictions
relating to mining, including in Chubut, Argentina; risks relating to expropriation;
diminishing quantities or grades of mineral reserves as properties
are mined; increased competition in the mining industry for
equipment and qualified personnel; and those factors identified
under the caption "Risks Related to Pan American's Business" in Pan
American Silver's most recent form 40-F and Annual Information Form
filed with the United States Securities and Exchange Commission and
Canadian provincial securities regulatory authorities,
respectively. Although Pan American Silver has attempted to
identify important factors that could cause actual results to
differ materially, there may be other factors that cause results
not to be as anticipated, estimated, described or intended.
Investors are cautioned against undue reliance on forward-looking
statements or information. Forward-looking statements and
information are designed to help readers understand management's
current views of our near and longer term prospects and may not be
appropriate for other purposes. Pan American Silver does not
intend, nor does it assume any obligation to update or revise
forward-looking statements or information, whether as a result of
new information, changes in assumptions, future events or
otherwise, except to the extent required by applicable law.
View original
content:https://www.prnewswire.com/news-releases/pan-american-silver-provides-update-on-the-modification-of-the-mining-law-in-chubut-argentina-301448752.html
SOURCE Pan American Silver Corp.
