Pan American Silver (PAAS) says it is suspending work on its Navidad silver mine project in...


Pan American Silver (PAAS) says it is suspending work on its Navidad silver mine project in Argentina's Chubut province, citing proposed legislation that could sharply raise taxes on the mining industry. PAAS currently operates the Manantial Espejo silver mine in the Santa Cruz province, where the governor also wants to tap the industry to plug a budget gap. (earlier)

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  • ducat
    , contributor
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    The Navidad suspension is old news as is stated in the article. It is certainly a posturing move as this is too big a deposit to just walk away from it. The Santa Cruz proposal is new news to me. Personally, I think it is positive to have government ownership in mines ala Jim Sinclair philosophy, but the large tax on gross production would be a killer. As pointed out in the article, this law if passed as proposed would be a hit across the board for many of the leading silver miners...do I smell a silver shortage or much higher prices?
    22 Dec 2012, 12:01 PM Reply Like
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