Pan American Silver optimistic Argentina's Navidad mine may reopen

|About: Pan American Silver Corp. (PAAS)|By:, SA News Editor

Pan American Silver (PAAS +1.9%) Chairman Ross Beaty says he is optimistic that the company can negotiate the reopening of its Navidad mine in Argentina, which has been on hold since 2013 when it ran afoul of provincial rules banning the use of cyanide in open pit mining.

Chubut, in Argentina's mineral-rich Patagonia region, is one of seven provinces in the country that ban both cyanide and open pit mining.

Beaty says PAAS is set to invest $1B in the Navidad mine if Chubut authorities give the go-ahead.