New Pacific Metals Corp. (NYSE American: NEWP) (TSX: NUAG), a Canadian exploration and development company, is making significant strides in Bolivia with its Silver Sand and Carangas projects, aiming to fill a critical gap in the global silver market. The Silver Sand project, highlighted in a June 2024 preliminary feasibility study, is expected to yield 12 million ounces of silver annually over a 13-year mine life. Similarly, the Carangas project, as per its September 2024 preliminary economic assessment, targets the production of 6.6 million ounces of silver each year for 16 years from its upper silver-lead-zinc zone.
Together, these projects could enable New Pacific to produce nearly 19 million ounces of silver annually, placing it among the top primary silver producers globally once operational. This development is crucial at a time when the demand for silver, used extensively in industrial applications, renewable energy technologies, and as a store of value, continues to rise amidst tightening supply conditions.
The strategic importance of New Pacific's projects extends beyond their production capacity. Located in Bolivia, a country with rich geological resources, these projects underscore the potential for significant economic contributions to the region while addressing the global silver supply shortage. For investors and industry stakeholders, New Pacific's progress represents a noteworthy opportunity in the precious metals sector, with implications for market dynamics and supply chain stability in the coming years.
