New Pacific Metals Corp. (NYSE American: NEWP) (TSX: NUAG) is strategically enhancing its position in the global silver market with its two major projects in Bolivia, the Silver Sand and Carangas. These projects are among the largest undeveloped open-pit silver assets worldwide, with a combined potential to produce 19 million ounces of silver annually. This initiative is timely, as industrial uses, such as photovoltaic solar panels and electric vehicles, now represent 83% of the annual silver demand, as reported by the World Silver Survey.
The Silver Sand project is projected to yield 12 million ounces of silver annually over a 13-year mine life, featuring a post-tax net present value of US$740 million and an internal rate of return of 37%. The Carangas project, on the other hand, is expected to produce 6.6 million ounces of silver each year, with additional gold potential at deeper levels. These developments not only position New Pacific as a potential leader in primary silver production but also highlight Bolivia's mining sector as a strategic area for foreign investment.
With the backing of major shareholders such as Silvercorp Metals and Pan American Silver, New Pacific is actively working through Bolivia's permitting process to fully realize the potential of its assets. Given the increasing global demand for silver and the scarcity of large-scale projects in development, New Pacific's efforts are crucial in bridging the supply gap in the silver market.
