New Pacific Metals Corp. Advances Major Silver Projects in Bolivia to Address Global Supply Gap

New Pacific Metals Corp. is advancing two significant silver projects in Bolivia that have the potential to substantially 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 production approaching 19 million ounces of silver annually. This development comes at a crucial time when the silver industry faces persistent supply challenges and growing demand from various sectors including industrial applications and renewable energy technologies.

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 would position the project among the world's significant silver operations. Similarly, 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 a 16-year operational period. Both projects are currently progressing through the permitting process in Bolivia, a country recognized for its rich mineral resources and established mining industry.

The timing of these developments is particularly important given the current state of the global silver market. Industry analysts have consistently highlighted a structural supply deficit in silver, with demand consistently outpacing new mine supply in recent years. This supply gap has been driven by multiple factors including increased industrial consumption, particularly in solar panel manufacturing and electronics, combined with limited new major silver discoveries and development projects coming online. New Pacific Metals Corp.'s projects represent a meaningful contribution to addressing this supply challenge.

As both projects advance toward production, New Pacific Metals Corp. is positioned to join the ranks of the world's leading primary silver producers. The company's focus on developing these assets in Bolivia, a country with significant geological potential and established mining infrastructure, provides strategic advantages for project development and future operations. The successful development of these projects would not only establish New Pacific as a major silver producer but also contribute to Bolivia's mining sector development and economic growth. For additional information about these developments and their market implications, visit https://ibn.fm/5XArY.

The combination of these two projects' production potential represents a significant addition to global silver supply at a time when market fundamentals remain supportive for silver prices and production growth. With the silver market continuing to face supply constraints and growing demand from both industrial and investment sectors, the successful development of New Pacific's Bolivian projects could play an important role in balancing market supply and demand dynamics in the coming years.