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StocksMediumUpdated×2•Originally published 14 April 2026•Updated 16 April 2026•

1 min read

Pan American Silver Forecasts 14% Production Growth by 2026 via Juanicipio Mine

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Key Facts

1Pan American Silver expects a 14% growth in silver output for 2026.

about 2 months ago

Version History

Version 2about 2 months ago

What changed: The story was updated to include data on the reduction of All-In Sustaining Costs (AISC) in 2025, while highlighting concerns regarding rising mine costs and a mixed asset outlook for 2026.

Version 1about 2 months ago

What changed: Updated the story to include new Q1 2026 production data for Silver X, including reaching nominal plant capacity and growth in silver and gold output.

Pan American Silver (PAAS) is projected to achieve a 14% increase in silver production by 2026, driven by the full-scale contribution of the Juanicipio mine. While the company successfully slashed its silver All-In Sustaining Costs (AISC) in 2025, rising mine costs are raising concerns about sustaining this momentum into 2026. Furthermore, a mixed outlook across its various assets may impact overall operational cost efficiency moving forward. In the broader sector, Silver X reported an 8% quarter-over-quarter production growth, with its processing plant reaching nominal capacity in March 2026. During this period, Silver X saw silver production rise by 10% and gold by 20% compared to the previous quarter. Analysts suggest that managing inflationary headwinds while scaling production remains a critical factor for the industry's future profitability.