(Kitco News) – Pan American Silver (TSX: PAAS) reported Wednesday that its consolidated silver production of 19.2 million ounces in 2021 was 11% higher than in 2020 and within the revised guidance range of 19.0 to 20.0 million ounces.
The company’s consolidated gold production of 579.3 thousand ounces in 2021 was 11% higher than in 2020 and within the revised guidance range of 560.0 to 588.0 thousand ounces. Dolores achieved record gold production of 160.1 thousand ounces in 2021.
Consolidated zinc, lead and copper production in 2021 was 49.4, 18.1 and 8.7 thousand tonnes, respectively, compared with the revised guidance of 49.8 – 53.6, 18.5 – 20.3 and 8.9 – 9.2 thousand tonnes, respectively.
“Production improved in 2021 over 2020, although continued to be constrained by reduced workforce deployment levels due to the COVID-19 pandemic. We are pleased to see progressive production ramp up at La Colorada during the fourth quarter of 2021, following the advances on the upgrades to the ventilation circuit and ground support programs,” commented President and CEO Michael Steinmann.
Importantly, Pan American Silver said it is currently experiencing the effects of the latest wave of COVID-19 infections, which has led to reduced workforce levels.
“At the present time, it is too early to determine what impact, if any, the current COVID-19 situation may have on operations in the first quarter or full-year 2022,” the company noted in a statement.
Consequently, Pan American Silver said it has decided to postpone issuing its 2022 production and costs guidance, and added that it intends to provide 2022 guidance no later than February 23, 2022, when the company releases its audited results for Q4 and FY 2021.
Pan American Silver owns and operates silver and gold mines located in Mexico, Peru, Canada, Argentina and Bolivia. The company also owns the Escobal mine in Guatemala that is currently not operating.