Extractive Sector Transparency Measures Act - Annual Report | Reporting Entities May Insert Their Brand/Logo here | ||||||||||||||||||||||
Reporting Entity Name | Pan American Silver Corp. | ||||||||||||||||||||||
Reporting Year | From | 1/1/2023 | To: | 12/31/2023 | Date submitted | 7/18/2025 | |||||||||||||||||
Reporting Entity ESTMA Identification Number | E202619 | •amended report | Report Version | ||||||||||||||||||||
2 | |||||||||||||||||||||||
Other Subsidiaries Included (optional field) | |||||||||||||||||||||||
For Consolidated Reports - Subsidiary Reporting Entities Included in Report: | E547011 Lake Shore Gold Corp E314969 Yamana Gold Inc. | ||||||||||||||||||||||
Not Substituted | |||||||||||||||||||||||
Attestation by Reporting Entity | |||||||||||||||||||||||
In accordance with the requirements of the ESTMA, and in particular section 9 thereof, I attest I have reviewed the information contained in the ESTMA report for the entity(ies) listed above. Based on my knowledge, and having exercised reasonable diligence, the information in the ESTMA report is true, accurate and complete in all material respects for the purposes of the Act, for the reporting year listed above. | |||||||||||||||||||||||
Full Name of Director or Officer of Reporting Entity | Ignacio Couturier | Date | 5/28/2024 | ||||||||||||||||||||
Position Title | Chief Financial Officer | ||||||||||||||||||||||
Extractive Sector Transparency Measures Act - Annual Report | |||||||||||||||||||||||||||||||||||
Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 | |||||||||||||||||||||||||||||||
Reporting Entity Name | Pan American Silver Corp. | Currency of the Report | CAD | ||||||||||||||||||||||||||||||||
Reporting Entity ESTMA Identification Number | E202619 | ||||||||||||||||||||||||||||||||||
Subsidiary Reporting Entities (if necessary) | E547011 Lake Shore Gold Corp E314969 Yamana Gold Inc. | ||||||||||||||||||||||||||||||||||
Payments by Payee | |||||||||||||||||||||||||||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 | ||||||||||||||||||||||||
Argentina | The National Government of Argentina | 9,150,000 | - | 9,150,000 | Payees include: 1)Administracion Federal de Ingresos Publicos (AFIP); and 2)Administracion General de Rentas 3)Administración Gubernamental de Ingresos Públicos (AGIP) | ||||||||||||||||||||||||||||||
Argentina | Province of Santa Cruz | 13,620,000 | 120,000 | 6,430,000 | 20,170,000 | Payees include: 1)Administracion Nacional de Aduanas; 2)Ente Nacional de Comunicaciones; 3)Secretaría de Estado del Ambiente y Desarrollo Sustentable; 4)Tesoreria General de la provincia de Santa Cruz; and 5)Consejo Agrario Provincial 6) | |||||||||||||||||||||||||||||
Argentina | Municipality of Buenos Aires (CABA) | 390,000 | 390,000 | Payees include: 1)Agencia Santacrucena de Ingresos Publicos (ASIP) | |||||||||||||||||||||||||||||||
Argentina | Municipality of Gobernador Gregores | 100,000 | 100,000 | ||||||||||||||||||||||||||||||||
Bolivia, Plurinational State of | Municipality of Atocha | 1,290,000 | 1,290,000 | ||||||||||||||||||||||||||||||||
Bolivia, Plurinational State of | Autonomous City of Potosi | 7,290,000 | 7,290,000 | ||||||||||||||||||||||||||||||||
Bolivia, Plurinational State of | The National Government of Bolivia | 9,080,000 | 8,450,000 | 17,530,000 | Payees includes: 1)Servicio Nacional de Impuestos Internos; and 2)Corporacion Minera de Bolivia | ||||||||||||||||||||||||||||||
Brazil | Government of Brazil | 28,470,000 | 7,370,000 | 230,000 | 36,070,000 | Payees include: 1)Secretaria de Receita Federal; and 2)Agencia Nacional de Mineracao 3)Instituto Brasileiro Do Meio Ambiente e Dos Recursos Naturais Renovaceis | |||||||||||||||||||||||||||||
Canada -Ontario | City of Timmins | 1,220,000 | 1,220,000 | ||||||||||||||||||||||||||||||||
Canada -Ontario | FLYING POST FIRST NATION | 1,060,000 | 1,060,000 | ||||||||||||||||||||||||||||||||
Canada -Ontario | MATACHEWAN FIRST NATION | 230,000 | 230,000 | ||||||||||||||||||||||||||||||||
Canada -Ontario | WAHGOSHIG FIRST NATION | 230,000 | 230,000 | ||||||||||||||||||||||||||||||||
Canada -Ontario | MATTAGAMI FIRST NATION | 1,060,000 | 1,060,000 | ||||||||||||||||||||||||||||||||
Extractive Sector Transparency Measures Act - Annual Report | |||||||||||||||||||||||||||||||||||
Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 | |||||||||||||||||||||||||||||||
Reporting Entity Name | Pan American Silver Corp. | Currency of the Report | CAD | ||||||||||||||||||||||||||||||||
Reporting Entity ESTMA Identification Number | E202619 | ||||||||||||||||||||||||||||||||||
Subsidiary Reporting Entities (if necessary) | E547011 Lake Shore Gold Corp E314969 Yamana Gold Inc. | ||||||||||||||||||||||||||||||||||
Payments by Payee | |||||||||||||||||||||||||||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 | ||||||||||||||||||||||||
Canada -Ontario | WABUN TRIBAL COUNCIL | 120,000 | 120,000 | ||||||||||||||||||||||||||||||||
Chile | Municipality of Santiago | - | - | 220,000 | - | 220,000 | |||||||||||||||||||||||||||||
Chile | Municipality of Alhue | - | - | 570,000 | - | 570,000 | |||||||||||||||||||||||||||||
Chile | Municipality of Antofagasta | - | - | - | 810,000 | 810,000 | |||||||||||||||||||||||||||||
Chile | Government of Chile | 79,180,000 | 13,760,000 | 2,760,000 | - | 95,700,000 | Payees include: 1)Tesoreria General de la Republica de Chile; 2)Instituto de Investigaciones y Control; And 3)Ministerio de defensa nacional | ||||||||||||||||||||||||||||
Guatemala | Municipality of San Rafael Las Flores | 200,000 | 130,000 | 330,000 | Payment of portion of outstanding royalties from 2017 sales, which were suspended on mutual agreement upon the operation's suspension. See note below. | ||||||||||||||||||||||||||||||
Guatemala | The National Government of Guatemala | 330,000 | 330,000 | Payee includes: 1)Superintendencia de Administracion Tributaria (SAT); See note below. | |||||||||||||||||||||||||||||||
Mexico | The National Government of Mexico | 24,830,000 | 3,390,000 | 4,900,000 | 33,120,000 | Payees includes: 1)Superintendencia de Administracion Tributaria (SAT); 2)CONAGUA (Comision Nacional del Agua); 3)Tesoreia de la Federacion; 4)Fondo Forestal Mexicano; And 5)Secretarìa del Medio Ambiente y Recursos Naturales (SEMARNAT). | |||||||||||||||||||||||||||||
Mexico | State of Chihuahua | 1,080,000 | 1,080,000 | ||||||||||||||||||||||||||||||||
Mexico | Municipality of Chalchihuites | 1,000,000 | 1,000,000 | ||||||||||||||||||||||||||||||||
Extractive Sector Transparency Measures Act - Annual Report | |||||||||||||||||||||||||||||||||||
Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 | |||||||||||||||||||||||||||||||
Reporting Entity Name | Pan American Silver Corp. | Currency of the Report | CAD | ||||||||||||||||||||||||||||||||
Reporting Entity ESTMA Identification Number | E202619 | ||||||||||||||||||||||||||||||||||
Subsidiary Reporting Entities (if necessary) | E547011 Lake Shore Gold Corp E314969 Yamana Gold Inc. | ||||||||||||||||||||||||||||||||||
Payments by Payee | |||||||||||||||||||||||||||||||||||
Country | Payee Name1 | Departments, Agency, etc… within Payee that Received Payments2 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid to Payee | Notes34 | ||||||||||||||||||||||||
Peru | The National Government of Peru | 71,040,000 | 2,880,000 | 73,920,000 | Payees includes: 1)SUNAT (Superintendencia Nacional de Administracion Tributaria); 2)OSINERGMIN (Organismo Supervisor de la Inversion de Energia y Mineria); 3)OEFA (Organismo de Evaluacion y Fiscalizacion Ambiental); 4)INGEMMET (Instituto Geologico Minero y Metalurgico); 5)ANA (Autoridad Nacional del Agua); and 6)MTC (Ministerio de Transportes y Comunicaciones). | ||||||||||||||||||||||||||||||
Additional Notes: | The functional currency is USD which was converted from local currency. The following are the average annual exchange rates: BOB 6.9062; CAD 1.3497; ARS 295.6761; MXN 17.7306; PEN 3.7438; BRL 4.9935; CLP 840.67 and GTQ 7.8337. Amounts were subsequently converted into CAD from USD using the average exchange rate for the year ended December 31, 2023 of 1USD = 1.3497 CAD. Royalty payments related to the Escobal mine (Guatemala) were postponed upon the suspension of mining operations in 2017. The 2023 payments reflect portions of outstanding balances due for pre-suspension production that we paid during the year, under amended royalty agreement which provided for improved transperancy and controls over the allocation and expenditure of the royalties. On March 31, 2023, the Reporting Entity acquired 100% of the outstanding shares of Yamana Gold Inc. This amended report includes the payments made by Yamana Gold Inc. for the period from January 1, 2023 to December 31, 2023. For subsequent years, the payments for Yamana Gold Inc. will be incorporated into the ESTMA report for Pan American Silver Corp. | ||||||||||||||||||||||||||||||||||
Extractive Sector Transparency Measures Act - Annual Report | ||||||||||||||||||||||||||||||||
Reporting Year | From: | 1/1/2023 | To: | 12/31/2023 | ||||||||||||||||||||||||||||
Reporting Entity Name | Pan American Silver Corp. | Currency of the Report | CAD | |||||||||||||||||||||||||||||
Reporting Entity ESTMA Identification Number | E202619 | |||||||||||||||||||||||||||||||
Subsidiary Reporting Entities (if necessary) | E547011 Lake Shore Gold Corp E314969 Yamana Gold Inc. | |||||||||||||||||||||||||||||||
Payments by Project | ||||||||||||||||||||||||||||||||
Country | Project Name1 | Taxes | Royalties | Fees | Production Entitlements | Bonuses | Dividends | Infrastructure Improvement Payments | Total Amount paid by Project | Notes23 | ||||||||||||||||||||||
Argentina | Manantial Espejo Mine | 2,440,000 | 1,040,000 | 100,000 | 3,580,000 | |||||||||||||||||||||||||||
Argentina | Argenta | 200,000 | 200,000 | |||||||||||||||||||||||||||||
Argentina | Estelar | 6,020,000 | 12,580,000 | 6,430,000 | 25,030,000 | |||||||||||||||||||||||||||
Argentina | Suyai | 260,000 | 260,000 | |||||||||||||||||||||||||||||
Argentina | Agua Rica | 140,000 | 140,000 | |||||||||||||||||||||||||||||
Bolivia, Plurinational State of | San Vincente Mine | 9,080,000 | 17,030,000 | 26,110,000 | ||||||||||||||||||||||||||||
Brazil | Jacobina Mine | 28,470,000 | 7,370,000 | 230,000 | 36,070,000 | |||||||||||||||||||||||||||
Canada -Ontario | Timmins West Mines | 1,220,000 | 2,580,000 | 120,000 | 3,920,000 | |||||||||||||||||||||||||||
Chile | El Péñon Mine | 79,180,000 | 11,640,000 | 2,630,000 | 810,000 | 94,260,000 | ||||||||||||||||||||||||||
Chile | Minera Florida Mine | 2,120,000 | 280,000 | 2,400,000 | ||||||||||||||||||||||||||||
Chile | La Pepa | 320,000 | 320,000 | |||||||||||||||||||||||||||||
Chile | Jeronimo | 320,000 | 320,000 | |||||||||||||||||||||||||||||
Guatemala | Escobal Mine | 530,000 | 130,000 | 660,000 | ||||||||||||||||||||||||||||
Mexico | Alamo Dorado Mine | 430,000 | 430,000 | |||||||||||||||||||||||||||||
Mexico | La Colorada Mine | 15,140,000 | 1,110,000 | 710,000 | 16,960,000 | |||||||||||||||||||||||||||
Mexico | Dolores Mine | 10,690,000 | 2,280,000 | 4,840,000 | 17,810,000 | |||||||||||||||||||||||||||
Peru | Huaron Mine | 12,580,000 | 840,000 | 13,420,000 | ||||||||||||||||||||||||||||
Peru | Morococha Mine | 350,000 | — | 350,000 | ||||||||||||||||||||||||||||
Peru | La Arena Mine | 13,330,000 | 1,080,000 | 14,410,000 | ||||||||||||||||||||||||||||
Peru | Shahuindo Mine | 44,780,000 | 910,000 | 45,690,000 | ||||||||||||||||||||||||||||
Additional Notes3: | The functional currency is USD which was converted from local currency. The following are the average annual exchange rates: BOB 6.9062; CAD 1.3497; ARS 295.6761; MXN 17.7306; PEN 3.7438; BRL 4.9935; CLP 840.67 and GTQ 7.8337. Amounts were subsequently converted into CAD from USD using the average exchange rate for the year ended December 31, 2023 of 1USD = 1.3497 CAD. On March 31, 2023, the Reporting Entity acquired 100% of the outstanding shares of Yamana Gold Inc. This amended report includes the payments made by Yamana Gold Inc. for the period from January 1, 2023 to December 31, 2023. For subsequent years, the payments for Yamana Gold Inc. will be incorporated into the ESTMA report for Pan American Silver Corp. | |||||||||||||||||||||||||||||||