New Pacific Metals Corp. is advancing two flagship projects in Bolivia that represent some of the world's best undeveloped open-pit silver assets, with the potential to collectively produce nearly 19 million ounces of silver annually. This development is significant as it addresses a critical supply gap in the global silver market. The Silver Sand project, detailed in a June 2024 preliminary feasibility study, is expected to yield 12 million ounces of silver per year over a 13-year mine life. Similarly, the Carangas project, as outlined in a September 2024 preliminary economic assessment, targets the production of 6.6 million ounces of silver annually from its upper silver-lead-zinc zone over a 16-year period.
The importance of these projects stems from the current state of the global silver market, which faces a substantial supply deficit. New Pacific's focus on advancing these assets through permitting in Bolivia, a country renowned for its rich geological resources, highlights the potential impact on stabilizing silver supply chains. With both projects progressing toward production, the company is positioned to become a major primary silver producer, offering a sustainable solution to meet growing industrial and investment demand. The advancement of these projects underscores Bolivia's emerging role as a key jurisdiction for silver mining development.
The potential annual production from these projects would significantly contribute to global silver output, helping to alleviate the supply constraints that have characterized the market. The company's strategic focus on these large-scale, long-life assets provides a foundation for consistent silver production over the next decade and beyond. For further information on the company's projects and their market implications, additional details are available at https://ibn.fm/5XArY. The successful development of the Silver Sand and Carangas projects could reshape the supply dynamics of the silver industry, reducing reliance on existing producers and introducing a new, substantial source of the metal.
This development matters because it represents a tangible response to the structural supply challenges in the silver market. As demand for silver continues to grow across various sectors, including renewable energy, electronics, and investment, the need for new, large-scale production sources becomes increasingly urgent. New Pacific Metals Corp.'s projects in Bolivia offer a viable path to augment global supply, potentially mitigating price volatility and supporting the long-term availability of this critical industrial metal. The progression of these projects through the permitting and development phases will be closely watched by market participants as a bellwether for new silver supply coming online.
