Santacruz Silver Mining is a leading producer of silver and other metals with major operations in Bolivia and Mexico

Santacruz Silver Mining Ltd is engaged in the operation, acquisition, exploration and development of mineral properties in Latin America.

The company's Bolivian operations are comprised of the Tres Amigos, Reserva and Colquechaquita mines, the Soracaya exploration project, and the San Lucas ore sourcing and trading business.

Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) has produced 3.69 million silver equivalent ounces in the first quarter of 2025, supported by steady output from its Zimapan mine in Mexico and margin-focused operations in Bolivia.

The company reported standalone silver production of 1.59 million ounces, along with nearly 20,700 tonnes of zinc, 2,700 tonnes of lead, and 279 tonnes of copper.

Total underground development reached 10,135 meters across its portfolio of assets.

“Santacruz started 2025 with strong contributions from its Mexican operations, driven by steady production growth, solid mill throughput, and disciplined mine execution,” said CEO Arturo Préstamo.

Silver prices continued to make gains on Friday, trading above $36 per ounce, their highest level in more than 13 years.

Prices have increased approximately 24.3% since the start of the year, supported by a persistent supply deficit and increasing demand from both investors and industrial users.

Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) posted a net income of $165 million for 2024, up more than 15-fold from the prior year, as higher metal prices and operational efficiencies bolstered the Canadian miner’s financial performance.

Revenue rose 13% to $283 million, while gross profit surged 1,670% to $57 million. Adjusted EBITDA jumped 200% to $53 million, the company said in a statement on Wednesday.

Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF)’s plan to accelerate its debt payments to Glencore will save $40 million and clean up its balance sheet, making the company more attractive to investors, according to analysts at Atrium Research.

On Thursday, Santacruz announced that it has structured and implemented a new plan to exercise its option to accelerate its payments to Glencore in consideration for its Bolivian mining assets.

The company is positioned to save $40 million as the debt is reduced from $80 million to $40 million if paid off by November 2025.

Arturo Prestamo, Executive Chairman and CEO of Santacruz Silver Mining joined Steve Darling from Proactive to announce the latest Mineral Resource and Reserve estimates for the company’s three producing assets in Bolivia: the Bolivar mine, the Porco mine, and the Caballo Blanco Group of mines. These estimates mark a significant milestone for Santacruz Silver Mining as the company continues to expand its footprint in the region. Prestamo revealed that the Total Proven and Probable Mineral Reserves amount to 54 million silver equivalent ounces, including 19 million ounces of silver and 259 thousand tonnes of zinc.

This substantial reserve base underpins the company's ongoing production and highlights the potential longevity of these assets. In addition, the Total Measured and Indicated Resources stand at 102 million silver equivalent ounces, which includes 32 million ounces of silver and 518 thousand tonnes of zinc. The Total Inferred Resources across the Bolivian producing mines have been estimated at 189 million silver equivalent ounces, comprising 72 million ounces of silver and 882 thousand tonnes of zinc. Furthermore, an initial Inferred Resource for the Soracaya deposit has been reported at 35 million ounces of silver. Prestamo also emphasized that these Bolivian assets are currently in production and remain open along strike and at depth. With an ongoing exploration program in place, Santacruz Silver Mining sees considerable potential to further expand the existing Mineral Resources and Reserves, securing the company’s growth prospects well into the future.