New Pacific Metals Corp. is advancing two major silver projects in Bolivia that could significantly impact the global silver market. The company's Silver Sand and Carangas projects represent some of the world's best undeveloped open-pit silver assets, with combined potential to produce nearly 19 million ounces of silver annually. This development comes at a crucial time when the global silver market faces a substantial supply gap, making these projects particularly important for future silver availability.
The Silver Sand project, detailed in a June 2024 preliminary feasibility study, is projected to yield 12 million ounces of silver per year over a 13-year mine life. This substantial production capacity positions Silver Sand as a major contributor to global silver supply. Meanwhile, the Carangas project, as outlined in a September 2024 preliminary economic assessment, targets production of 6.6 million ounces of silver annually from its upper silver-lead-zinc zone over 16 years. Both projects are advancing through permitting stages in Bolivia, a country recognized for its rich geological resources and mining potential.
The timing of these developments is critical given the current state of the global silver market. Silver demand continues to outpace supply across multiple sectors, including industrial applications, renewable energy technologies, and investment products. New Pacific Metals Corp.'s projects offer a sustainable solution to this growing demand imbalance. With both assets progressing toward production, the company is positioned to join the ranks of the world's leading primary silver producers. The successful development of these projects could help stabilize silver markets and support the global transition to cleaner energy technologies that rely heavily on silver components.
For additional information about these developments and their market implications, visit https://ibn.fm/5XArY. The advancement of these Bolivian projects represents a significant step in addressing the structural supply challenges facing the silver industry while creating substantial value for stakeholders in the mining sector.
