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Pan American Silver Corp. is a Canadian-headquartered precious-metals miner operating across the Americas.
Group exposure score is 57 including 1 tracked subsidiary — standalone is 61.
Named counterparties identified by open-source research and written only where a primary source states the relationship — never inferred from sector or co-mention. 6 suppliers, 1 customer-side. This is a partial view: it covers the relationships we could evidence, not the company's full supply base.
Sandstorm Gold Ltd.'s FY2024 AIF (EX-99.1): in October 2015 Sandstorm entered a silver stream with Yamana Gold Inc. on the Cerro Moro Mine (Argentina) -- 'the Company agreed to purchase an amount of silver from the Cerro Moro Mine equal to 20% of the silver produced (up to an annual maximum of 1.2 million ounces), until 7.0 million ounces of silver have been delivered to the Company; then 9% of the silver produced thereafter', paying 'ongoing payments for each ounce of silver received under the Silver Stream equal to 30% of the spot price per ounce of silver'. 6.6 million ounces cumulatively delivered as of 2025-12-31. Yamana's Argentina assets (incl. Cerro Moro) were acquired by Pan American Silver Corp. on 2023-03-31 (Yamana's Canadian assets went separately to Agnico Eagle); the AIF confirms 'The Company's rights under its various agreements with Yamana remain intact.' Cerro Moro is one of the five mines in this dossier's scored Silver Segment.
Shahuindo technical report (Form 6-K, 2022): 'Shahuindo produces gold in the form of doré bars and has contracts in place with Asahi Refining Canada, Argor Heraeus and Metalor in Switzerland, for refining the doré produced on site.' Refining-service contract, not a purchase of the metal; seen via search excerpt, page not opened. Not found in the FY2024/FY2025 AIF text checked 2026-09-26.
Shahuindo technical report (Form 6-K, 2022): 'Shahuindo produces gold in the form of doré bars and has contracts in place with Asahi Refining Canada, Argor Heraeus and Metalor in Switzerland, for refining the doré produced on site.' Refining-service contract, not a purchase of the metal; seen via search excerpt, page not opened.
Shahuindo technical report (Form 6-K, 2022): 'Shahuindo produces gold in the form of doré bars and has contracts in place with Asahi Refining Canada, Argor Heraeus and Metalor in Switzerland, for refining the doré produced on site.' Refining-service contract, not a purchase of the metal; seen via search excerpt, page not opened. No dossier yet for Asahi Refining Canada.
FY2025 AIF, El Peñon (Chile): 'El Peñon produces gold in the form of doré bars and there are contracts in place with MKS PAMP and Argor Heraeus in Switzerland, for refining the doré produced on site.' 2025 El Peñon output 115.2 koz gold and 3.9 Moz silver; refining-service contract, not a metal sale.
FY2025 AIF, El Peñon (Chile): 'El Peñon produces gold in the form of doré bars and there are contracts in place with MKS PAMP and Argor Heraeus in Switzerland, for refining the doré produced on site.' 2025 El Peñon output 115.2 koz gold and 3.9 Moz silver; refining-service contract, not a metal sale.
FY2025 AIF, Jacobina (Brazil): 'A contract is in place with Asahi Refining Canada for refining the doré produced from Jacobina. The doré is transported to these facilities where it is refined to the London Good Delivery specification.' 2025 Jacobina output 190.5 koz gold; refining-service contract, not a metal sale.
Scope. Absence of a counterparty here is not evidence that none exists — most commercial sourcing is confidential and never becomes public. Rows without a share figure mean no share was disclosed, not that the relationship is small.
5 other tracked dossiers name this company as a counterparty in its own sourced disclosure — this platform never wrote these rows on this company's own page, they are read here inverted from the dossier that disclosed them. This is a partial view: 997 additional named-counterparty rows across the corpus could not be matched to a tracked dossier by name at all (mostly non-Latin legal names), so the true count is higher than what renders here.
FY2025 AIF, Jacobina (Brazil): 'A contract is in place with Asahi Refining Canada for refining the doré produced from Jacobina. The doré is transported to these facilities where it is refined to the London Good Delivery specification.' 2025 Jacobina output 190.5 koz gold; refining-service contract, not a metal sale.
Pan American Silver's FY2024 AIF: 'Shahuindo produces gold in the form of doré bars and has contracts in place with Asahi Refining Canada, Argor Heraeus and Metalor in Switzerland, for refining the doré produced on site.'
Pan American Silver's FY2024 AIF: 'El Peñon produces gold in the form of doré bars and there are contracts in place with MKS PAMP and Argor Heraeus in Switzerland, for refining the doré produced on site.'
Pan American Silver's FY2024 AIF: 'Shahuindo produces gold in the form of doré bars and has contracts in place with Asahi Refining Canada, Argor Heraeus and Metalor in Switzerland, for refining the doré produced on site.'
FY2025 AIF, El Peñon (Chile): 'El Peñon produces gold in the form of doré bars and there are contracts in place with MKS PAMP and Argor Heraeus in Switzerland, for refining the doré produced on site.' 2025 El Peñon output 115.2 koz gold and 3.9 Moz silver; refining-service contract, not a metal sale.
Scope. This section is inverted evidence: each linked dossier wrote the original row about itself, describing its own relationship to this company. It is never a claim this company itself disclosed. Absence here is not evidence of no relationship — most of the corpus has no named-counterparty block at all yet.
This company sits on the supply side for 3 of its 3 materials — a restriction on those is a tailwind, not a headwind.
As a producer, policy pressure across its produced materials is flat.
Descriptive trend in official policy actions on this company’s materials — a policy-pressure trend, not a price or trading signal. No forward probability is implied. Direction is measured on actions we have discovered, and discovery lags events: where the recent window is too thin to support a calm reading, the row says coverage-limited instead of easing.
No actions in the register have named or swept this company in the last 24 months.