The silver/gold vein systems of the Veta Madre at Guanajuato were discovered as early as 1548. At their peak of production in the 18th century these systems were responsible for one third of the world’s silver output. Today the Guanajuato area and its prolific, high grade silver/gold vein systems are still one of the most prolific silver producing regions of the world.
According to a survey conducted by The Fraser Institute, Mexico is among the top 20 most attractive regions in the world for exploration and mining. A strong mining culture, excellent geology, political stability and favorable tax and permitting structures all combine to create major appeal for mining companies. Non-Mexican companies can maintain 100% ownership of their properties and reap the full benefits of successful exploration and project development for their shareholders.
Great Panther Silver (TSX – GPR) has two operating mines in Mexico and is on the prowl for further acquisitions. GPR is one of the fastest growing primary silver producers in Mexico with strong leverage to future rises in the price of silver. The centerpiece of the Company's operations is the world class Guanajuato Silver-Gold Mine in the state of Guanajuato.
Great Panther also owns and operates the Topia Silver-Lead-Zinc Mine in Durango State. The Company has increased production to a new all time high and is growing the resource base through continued surface drilling and underground development.
Great Panther Silver Ltd. has appointed Ali Soltani as the company's new chief operating officer. Mr. Soltani has more than 30 years of mining experience in precious metals and copper with Newmont Mining and Phelps Dodge. In his most recent roles at Newmont he served as Vice President of Technical Services, and as Group Executive with overall responsibility for the company's South American operations. In his new role, Mr. Soltani has responsibility for overseeing Great Panther's operations, and will be based in the Company's head office in Vancouver.
"We are extremely pleased to attract a professional of Ali's calibre to Great Panther", stated Robert Archer, President & CEO. "I am confident that his depth of operating knowledge will have an immediate and lasting effect on our Mexican operations, particularly as we ramp up production at our new satellite mine, San Ignacio. We look forward to working with Ali as we improve our operating efficiencies and continue to grow the Company organically and through potential acquisitions."
Mr. Soltani has a master's degree in Mining Engineering from the South Dakota School of Mines and Technology and speaks Spanish. During his career, Mr. Soltani has served in numerous senior operating and technical leadership roles, including planning and engineering, management of unit operations and mine sites, project evaluations, and mergers and acquisitions, and has lived and worked extensively in Latin America.