Santacruz Reports 1Q25 Production, Highlights Efficiency Gains

Santacruz Silver Mining reported its 1Q25 production results from its Bolivar, Porco, Caballo Blanco Group, and San Lucas Group mines in Bolivia, alongside its Zimapán mine in Mexico, highlighting improved operational efficiency in its Mexican operations.

During 1Q25, the company produced 3,688,129 silver equivalent oz, 1,590,063oz of silver, 20,719t of zinc, 2,718t of lead, and 279t of copper, while advancing underground development by 10,135m.

“Santacruz started 2025 with strong contributions from its Mexican operations, driven by steady production growth, solid mill throughput, and disciplined mine execution. Whilst in Bolivia, at our San Lucas ore sourcing business, our margin-based model supported profitability through flexible ore sourcing and cost flexibility, despite normal head grade variability,” said Arturo Préstamo, Executive Chairman and CEO, Santacruz.

Focusing on its Mexican assets, Zimapan demonstrated notable operational efficiency in 1Q25. Compared to 4Q24, the mine processed 3% more mineralized material, driving a 6% increase in silver equivalent production. Silver output rose by 3%, bolstered by a 3% improvement in recoveries, despite a slight 3% decline in silver head grades. Zinc production also grew by 7%, supported by a 2% increase in head grades and a 1% boost in recoveries. These quarter-over-quarter gains underscore the mine’s consistent performance and its capacity to generate incremental growth through ongoing optimization.

Year-over-year, Zimapan posted a strong first quarter, with mineralized material processed rising by 9%, leading to a 14% increase in silver equivalent production. Silver production advanced 10%, despite a 3% drop in head grades, thanks to a 4% improvement in recoveries. Zinc output surged 23%, driven by a 12% rise in head grades and a 2% gain in recoveries. These results reflect effective mine planning and a stable processing environment, with head grades closely aligned to scheduled stopes.