#Canada #Vancouver #New Pacific Metals #Bolivia Mining #Silver Sand Project

New Pacific Metals Sets Ambitious Goals for 2025

New Pacific Metals Corp. has officially announced its strategic plans for 2025, focusing on its operations in Bolivia with the aim to enhance stakeholder relationships and streamline the permitting process crucial for development. The company's President and CEO, Andrew Williams, expressed enthusiasm about the potential for both the Silver Sand and Car Carangasangas projects, which are deemed significant resources for silver mining. With the goal to advance these initiatives responsibly, New Pacific is prioritizing community engagement, legal compliance, and environmental sustainability in its endeavors.

Focus on Key Projects

In 2025, New Pacific's main objective is to secure the necessary permits that are crucial for progressing toward construction phase. In 2024, the company successfully laid the groundwork for its significant mining assets, establishing a robust approach that underscores the importance of maintaining financial health—currently boasting $18 million in cash. This disciplined method has proven instrumental in their achievements thus far. With plans to develop large-scale operations, the company anticipates producing nearly 19 million ounces of silver each year from these projects, addressing a vital gap in the anticipated soaring global demand for silver.

Silver Sand Project Progress

At the Silver Sand project, emphases will be placed on securing surface rights through long-term lease agreements, which are essential for moving forward. However, this process has faced challenges due to disruptions from illegal artisanal mining activities. To combat this, New Pacific has taken legal measures and has been collaborating with local law enforcement to uphold their rights. They are actively working toward a resolution that respects both legal frameworks and community interests.

Advancements in the Carangas Project

The Carangas project is also under strategic focus as New Pacific plans to convert its existing Exploration License into an Administrative Mining Contract under Bolivia's 2014 Mining Code. This transition is crucial and marks a milestone for the company, as it aims to become a pioneering large-scale project that navigates this regulatory landscape successfully. A successful community engagement process, termed Consulta Previa, will precede the AMC application, ensuring that local voices are heard and valued.

Commitment to Sustainable Practices

Throughout 2025, New Pacific intends to engage in extensive environmental, socioeconomic, and hydrological studies alongside local communities. This collaboration will not only align with permit requirements but also place emphasis on responsible mining practices that adhere to international standards. Notable activities to be prioritized include low-cost information gathering essential for compliance, as well as advanced studies that will be deferred until significant permitting progress is made.

Financial Stability and Future Outlook

As the company prepares for the year ahead, their financial strategy remains discerning, maintaining a baseline budget of $8 million while ensuring operations are efficiently funded. According to Andrew Williams, New Pacific's approach is one of patience and persistence, cultivating relationships and enhancing local engagement to carve a pathway toward eventual development. With two immense undeveloped silver projects in their portfolio, the company remains optimistic about their role in the growing global silver market.

Conclusion

In summary, New Pacific Metals is embarking on a carefully strategized 2025, aiming to navigate the complexities of mining operations in Bolivia with a focus on responsibility and collaboration. The operational plans not only signify the potential for significant silver production but also reflection of the company’s commitment to sustainable and community-centric mining. As they advance, New Pacific is setting a benchmark for operations amidst challenges, aiming to emerge successfully in the evolving landscape of the mining industry.