Pan American Silver reports on status of modification to the mining law in Chubut, Argentina
VANCOUVER, BC, Dec. 16, 2021 /CNW/ - Pan American Silver Corp. (NASDAQ: PAAS) (TSX: PAAS) ("Pan American Silver") reports that, on December 15, 2021, the legislature of the Province of Chubut in Argentina approved a legislative bill (the "Bill") that would modify the provincial mining law to allow permitting of open pit mining in certain zones in the Departments of Gastre and Telsen, which are defined by a land use sensitivity map. The Bill requires Executive approval and official publication before it becomes law.
Pan American Silver owns 100% of the large Navidad silver project. The Navidad project is located in the north central part of the province and is within the designated zone that would potentially allow permitting of open pit mining. Any mining project, including Navidad, would be required to undergo applicable review processes and apply for permitting under provincial laws.
Pan American Silver believes that properly permitted and regulated mining activity with sustainable mining practices, both environmental and social, can benefit the people of Chubut. Pan American Silver will continue to evaluate the potential development of Navidad. This work includes engaging in open, transparent dialogue with applicable communities of interest and assessing the permitting requirements, time lines and capital investment.
https://news.panamericansilver…-law-in-Chubut,-Argentina
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Pan American Silver owns 100% of the Navidad project, one of the
world’s largest undeveloped silver deposits. We acquired the project in
2010 through the acquisition of Aquiline Resources Inc. The Navidad
properties are located in north central Chubut Province in Argentina.
To date, the Navidad Project comprises eight individual mineral deposits in three separate mineralized trends (Navidad, Esperanza and Argenta trends). The six deposits of the Navidad Trend occur along strike over a distance of about 5.8 kilometres and are essentially continuous. Mineral Resource estimates have been completed for eight of these deposits.
The Province of Chubut passed a law in 2003 (“Law 5001”) that prohibits open pit mining and the use of cyanide in mineral processing in the entire province, effectively preventing the development of Navidad. To date, this law remains in place. Our activities at Navidad at this time are guided by an investment plan that focuses primarily on satisfying the legal requirements necessary to maintain our property interests under the current mining law. We plan to continue with such maintenance requirements and remain committed to Navidad and to contributing to the positive economic and social development of Chubut, should a favourable legislative framework be adopted.
https://www.panamericansilver.…ions/exploration/navidad/
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