Pan American reports 2018 silver production 24.8M ounces
Pan American Silver Corp. announced preliminary operating results for Q4 and full year 2018, and provided guidance for 2019. It said, "Silver production of 24.8 million ounces was modestly below the original guidance range provided in January 2018 of 25.0 million to 26.5 million ounces, primarily due to shortfalls at Dolores and San Vicente, partially offset by higher-than-forecast production at La Colorada and Morococha, both of which set annual records. At Dolores, above average rainfalls during the third quarter hampered our ability to make-up open pit tonnages following the security-related road closures in June, resulting in a shortfall of tonnes placed on the heap. In addition, slower cement deliveries due to logistical challenges required lower solution application and reduced leach rates. At San Vicente, narrow vein mechanization efforts required additional operator training, resulting in lower throughput and increased dilution." It said gold production of 178.9 thousand ounces was within the original guidance range. For 2019, Pan American sees silver production 26.5-27.5 million ounces.