Santacruz Silver Mining reports its Q2 2025 production results from its Bolivar mine, Porco mine, Caballo Blanco Group of mines and the San Lucas Group which includes the Reserva Mina and the San Lucas feed sourcing business, all located in Bolivia, and the Zimapan mine located in Mexico.
Arturo Préstamo, Executive Chairman and CEO of Santacruz, commented, “Santacruz maintained robust and stable production levels during the second quarter of 2025, and, notably, San Lucas reaffirmed its strategic importance within the Company this quarter, successfully compensating for the slower production from the Bolivar mine.
From Q1 2025 to Q2 2025, consolidated throughput remained stable, increasing slightly by 2%; however, consolidated silver equivalent production decreased by 4%, with silver ounces declining 11%. The reductions were primarily driven by flooding at the Bolivar mine, which was caused by an unexpected water inflow event that temporarily exceeded the system’s designed pumping capacity.
As a result, access to the high-grade Pomabamba and Nane silver stopes at the Bolivar mine was suspended. The water overflow has now been resolved, and work on both stopes is gradually being restored to normal.”
Comparing Q2 2025 vs Q2 2024, Silver equivalent production was 33% lower year over year [YoY] driven by a 24% decline in material processed; silver output dropped by 29%. The water inflow event described above limited mining flexibility and access to higher grade stopes, which resulted in weaker head grades.
Weaker head grades were marginally offset by improved silver recoveries (+2%). San Lucas’ flexible sourcing model has mitigated a significant portion of the Bolívar shortfall, helping sustain overall throughput and revenues until operations in the affected areas are fully restored.
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