What Sunshine Silver Mining & Refining does

Sunshine Silver Mining & Refining Company ("SSMR") is a pre-production precious metals mining, development, and exploration company headquartered in Kellogg, Idaho, and listed on the NYSE under ticker SSMR since June 2026. The company controls the historic Sunshine Mine in Idaho's Silver Valley — a primary silver asset with 104 million ounces of Indicated Resources at 1,022 g/t Ag (approximately 3x the grade of other high-grade silver assets globally) and 160 million ounces of Inferred Resources at 775 g/t Ag. SSMR is the largest mineral rights holder in the Silver Valley (9,561 hectares) and operates a vertically integrated mine-to-mill-to-refinery platform with over $600 million in existing infrastructure and $200+ million invested since The Electrum Group acquired the Sunshine Complex in 2010.

The company's core products are the Sunshine Mine, the permitted Sunshine Silver/Copper Refinery (hydrometallurgical processing of silver and copper concentrates), and the planned Sunshine Antimony Plant, with proprietary processing technology for gallium and germanium. Technology differentiators include Steinert Global ore sorting, zero-liquid-discharge water management systems, and a 3D mine model built from over a century of digitized geological records. Production is targeted for late 2028, at which point the company plans to sell approximately 6.7 million ounces of COMEX-deliverable 99.99% pure silver bullion annually, up to 34.5 million pounds of antimony annually (potentially supplying up to 60% of U.S. demand), and byproducts including copper, gallium, and germanium to defense, clean energy, and commodity market customers.

SSMR's go-to-market centers on institutional investor engagement (Morgan Stanley, BMO, and RBC analyst coverage) and U.S. government/defense positioning as a domestic critical minerals supplier aligned with the March 2025 Executive Order on American Mineral Production. The company is majority-owned by The Electrum Group (Dr. Thomas Kaplan, Chairman), with minority public float post-IPO. Customer segments target the U.S. Department of Defense, semiconductor and clean energy buyers, and global silver commodity markets; a toll-processing service for third-party antimony concentrates is also under development.

Name

Sunshine Silver Mining & Refining

Legal name

Sunshine Silver Mining & Refining Company

Website

https://sunshinesilvermining.com

Company type

Public

Founded year

2010

Operating status

Ipo

Headcount range

11–50 employees

Short description

Sunshine Silver Mining & Refining is a pre-production precious metals mining company developing the historic Sunshine Mine in Idaho's Silver Valley, targeting 2028 production of silver, antimony, and critical minerals for U.S. defense, clean energy, and commodity markets.

Ownership category

akta.pro rank

Product category

Silver Mining & Critical Minerals Production

NAICS

Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (212230)

SIC

Gold And Silver Ores (1040), Primary Smelting & Refining Of Nonferrous Metals (3330)

akta.pro primary industry

Silver Mining (IMAKAEAB)

Keywords

• Silver mining
• Antimony production
• Critical minerals
• Precious metals refining
• Primary silver production

Headquarters

HQ city

Denver

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Operations, Infrastructure, Technology or R&D, Personnel, Supply Chain, Marketing or Sales

Revenue model

1. Silver Production and Sales: Once in production, the company plans to sell silver as COMEX-deliverable 99.99% pure silver bullion produced from the Sunshine Mine and refinery. Expected to produce approximately 6.7 million ounces of silver annually in the first five years of production.
2. Antimony Production: The planned Sunshine Antimony Plant could produce up to 34.5 million pounds of finished antimony annually, supplying up to 60% of U.S. demand. Antimony is sold to defense, semiconductor, and clean energy sectors.
3. Copper and Byproduct Minerals: The refinery is permitted for hydrometallurgical processing of copper concentrates. The mine also has potential for gallium and germanium production as byproducts.
4. Toll Processing Services: Subject to further development and approvals, the company may process third-party antimony-bearing concentrates for toll fees, leveraging its permitted refining capacity.

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

Sunshine Silver Mining & Refining is a pre-production precious metals mining and refining company operating the historic Sunshine Mine in Idaho's Silver Valley. Once in production (targeted for late 2028), it will produce approximately 6.7 million ounces of silver annually, COMEX-deliverable 99.99% pure silver bullion, up to 34.5 million pounds of finished antimony, and process copper, gallium, and germanium from a vertically integrated mine-to-mill-to-refinery platform.

Product overview

Sunshine Silver Mining & Refining operates a vertically integrated mining and metals production platform centered on the historic Sunshine Mine in Idaho's Silver Valley. The core offering consists of the Sunshine Mine (high-grade primary silver deposit with 104Moz Indicated and 160Moz Inferred resources), the Sunshine Refinery (permitted silver/copper refinery with COMEX-deliverable production history), and a planned Antimony Plant. The company is positioning itself as a critical minerals hub, with capabilities extending to copper, gallium, and germanium processing. Production is targeted for late 2028.

Differentiator

Problem solved

Functional benefit

Products and services

• Sunshine Mine One of the world's highest-grade primary silver projects located in Idaho's Silver Valley, hosting 104 Moz of Indicated silver resources at 1,022 g/t and 160 Moz of Inferred resources at 775 g/t, on a consolidated 9,561-hectare land package.
• Sunshine Refinery Permitted silver/copper refinery located approximately one mile north of the Sunshine Mine, historically producing COMEX-deliverable silver bullion and permitted for hydrometallurgical processing of silver and copper concentrates.
• Sunshine Antimony Plant Planned antimony processing facility with major permits in place, projected to produce up to 34.5 million pounds of finished antimony annually, supplied to defense, semiconductor, and clean energy sectors.
• Toll Processing Services for Antimony Concentrates Subject to further development and approvals, processing of third-party antimony-bearing concentrates for toll fees, leveraging permitted refining capacity (e.g., from Perpetua Resources and American Antimony Corporation).

Quantifiable outcome

• 6.7 million ounces of silver annually in first 5 years of production
• +5 more outcomes

Segments4 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature5 records

Partnerships

Three partnerships are on record, tiered minor and core.

• American Antimony Corporation (Xtra Energy Corporation)minorStrategic or Co-development Partner · 9 December 2025Metallurgical Testing Agreement between American Antimony Corp. and Silver Opportunity Partners LLC (a subsidiary of Sunshine Silver) to evaluate high-grade antimony ore from Nevada for potential processing through Sunshine's facilities. The testing will assess antimony recoveries, identify penalty elements, and determine reagent consumption and processing compatibility.
• Perpetua ResourcescoreStrategic or Co-development Partner · 9 December 2024MOU signed to explore feasibility of utilizing Sunshine Silver's permitted antimony plant site to process concentrates from Perpetua's Stibnite Gold Project. Testing will evaluate technical potential for processing antimony from Stibnite alongside Sunshine's own production. Together, they could achieve up to 40% of annual U.S. antimony demand. This represents a step toward establishing a fully integrated American antimony supply chain.
• U.S. Government (Executive Order)coreOthers · 3 December 2024The company aligns with U.S. government Executive Order of March 20, 2025, on Immediate Measures to Increase American Mineral Production and subsequent priorities set out by the Department of Defense, Department of Energy, and the White House to secure domestic supply chains for critical minerals including silver and antimony.

Scale indicators15 records

Recent moves7 records

Expansion highlights6 records

Direct peers

• First Majestic Silver: Pure-play primary silver producer with producing mines in Mexico and the U.S., comparable as a fellow publicly listed silver-mining developer/producer targeting ounces-in-the-ground economics similar to those implied by SSMR's Silver Valley resource.
• Americas Gold and Silver: Silver-zinc producer with operations in Mexico and the U.S., comparable to SSMR as a mid-tier primary silver developer/producer pursuing mine restarts and silver-based critical-minerals positioning.
• Gatos Silver: Silver-zinc producer with operations in Mexico; closely comparable due to CEO/CFO management links (SSMR CFO Andre van Niekerk was previously CFO at Gatos) and similar primary-silver development/production profile.
• Coeur Mining: Operates the Rochester silver-gold mine and has historic operations in the Coeur d'Alene Mining District (Galena Mine). Directly comparable as a U.S.-listed silver producer with operating mines in the same Idaho district and a focus on precious metal production.
• Hecla Mining Company: Largest U.S.-based primary silver producer operating the Lucky Friday Mine in Idaho's Coeur d'Alene district — the same Silver Valley region where SSMR's Sunshine Mine is located, with overlapping infrastructure, workforce and regulatory jurisdiction.

Broad incumbents

• USA Rare Earth: U.S. critical-minerals company developing domestic processing and mining capabilities aligned with the same federal critical-minerals agenda and DoD supply-chain priorities that support SSMR's antimony and gallium/germanium story.
• Pan American Silver: One of the world's largest primary silver miners with a diversified portfolio of silver and gold assets across the Americas. Comparable as a large-scale public silver producer with established mine-restart and silver-operations capabilities relevant to SSMR's planned 2028 production.

Emerging players

• MAG Silver: Development-stage primary silver company advancing the Juanicipio project in Mexico with Fresnillo as operator. Comparable to SSMR as a high-grade silver developer moving from feasibility into production with similar risk-return characteristics.
• Perpetua Resources: Developing the Stibnite Gold Project in Idaho — the largest U.S. antimony-gold resource — and is the MOU partner evaluating antimony concentrate processing through Sunshine's permitted antimony plant. Direct strategic and operational counterparty for SSMR's U.S. critical-minerals thesis.
• Dolly Varden Silver: High-grade primary silver exploration/development company with assets in British Columbia's Golden Triangle. Comparable as a high-grade primary-silver junior developer with similar pre-production development profile to SSMR.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/SSMR_Mining
• Facebookfacebook.com/profile.php?id=61565492785369
• LinkedInlinkedin.com/company/sunshine-silver-mining-refining

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles12 records

Subsidiaries1 record

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Sunshine Silver Mining & Refining