Santacruz Silver Mining
Santacruz Silver Mining is a Canadian-listed diversified silver and base metal producer operating four mines in Bolivia and the Zimapan mine in Mexico, selling concentrates to global commodity markets, smelters, and industrial buyers at exchange-linked prices.
- Company typePublic
- Founded2003
- HeadquartersVancouver, Canada
- Headcount51–100
- GTM typeB2B
- OfferingServices
What Santacruz Silver Mining does
Santacruz Silver Mining Ltd. is a Canadian-domiciled, publicly traded diversified silver producer operating underground mining assets in Bolivia and Mexico. Founded in 2003 and headquartered in Vancouver, British Columbia, the company operates through its wholly-owned Bolivian subsidiary Grupo Minero Sinchi Wayra, which manages four mining complexes (Bolivar, Porco, Caballo Blanco, and Reserva), and operates the Zimapan mine in Mexico. The company produces silver, zinc, lead, and copper concentrates, with 2025 production totaling approximately 14.4 million silver equivalent ounces across the portfolio.
The company sells its metal concentrates directly to commodity markets, smelters, refineries, and industrial buyers at global metal exchange prices, generating commodity-linked revenue with no retail or contracted pricing structure. Revenue is exposed to spot pricing for silver, zinc, lead, and copper on international exchanges. The company also holds the Illapa joint venture with Bolivian state mining company COMIBOL, which provides a 45% economic interest in certain operations but carries a 2028 expiration deadline.
The company's near-term strategic agenda includes recovering full production at the Bolivar mine following a May 2025 flooding event (targeted for Q4 2026), advancing the Soracaya high-grade silver development project toward initial production in late 2026, and consolidating its dual listing on TSX Venture Exchange (SCZ) and NASDAQ Capital Market (SCZM), where it graduated to a senior listing on January 21, 2026. Financial performance in FY2025 was strong, with revenue of $326.4 million (+15% year-over-year), and Q1 2026 delivered $127.5 million in revenue with $42.6 million in adjusted EBITDA. The company ranked first overall on the 2026 TSX Venture 50, driven by 1,103% share price appreciation and 1,137% market capitalization growth in 2025.
Santacruz Silver Mining firmographics
Firmographics- Name
- Santacruz Silver Mining
- Legal name
- Santacruz Silver Mining Ltd.
- Website
- https://santacruzsilver.com
- Company type
- Public
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Short description
- Santacruz Silver Mining is a Canadian-listed diversified silver and base metal producer operating four mines in Bolivia and the Zimapan mine in Mexico, selling concentrates to global commodity markets, smelters, and industrial buyers at exchange-linked prices.
- Ownership category
- akta.pro rank
Santacruz Silver Mining industry classification
Industry- Product category
- Silver and Base Metals Mining
- NAICS
- Gold Ore and Silver Ore Mining (212220), Copper, Nickel, Lead, and Zinc Mining (212230), Mining (except Oil and Gas) (212)
- SIC
- Gold And Silver Ores (1040)
- akta.pro primary industry
- Silver Mining (IMAKAEAB)
Keywords
Where Santacruz Silver Mining is headquartered
LocationHeadquarters
- HQ city
- Vancouver
- HQ country
- Canada
- HQ region
- North America
Offices2 records
Markets served
Santacruz Silver Mining business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Operations, Personnel, Infrastructure, Supply Chain, Others
Revenue model
- Silver and Base Metal Sales: Revenue generated from extracting and selling silver, zinc, lead, and copper concentrates and metals produced from mining operations in Bolivia and Mexico. The company sells to commodity markets and industrial buyers.
Go-to-market motion1 record
Distribution channels1 record
Marketing channels1 record
Santacruz Silver Mining product offering
Product offeringCore offering
Santacruz Silver Mining is a diversified polymetallic mining company that extracts and sells silver, zinc, lead, and copper concentrates produced from underground mines. The company operates four mining complexes in Bolivia (Bolivar, Porco, Caballo Blanco, Reserva) and the Zimapan mine in Mexico, marketing concentrates to global smelters and industrial buyers at commodity-linked prices.
Product overview
Santacruz Silver Mining Ltd. is a diversified silver mining company operating a portfolio of underground mining assets in Bolivia and Mexico. The company operates through its wholly-owned Bolivian subsidiary Grupo Minero Sinchi Wayra, which manages four mining complexes: Bolivar, Porco, Caballo Blanco, and Reserva in Bolivia. In Mexico, the company operates the Zimapan mine producing silver, zinc, lead, and copper. The company is developing the Soracaya Project in Bolivia. Production is reported in silver equivalent ounces, with 2025 output of approximately 14.4 million silver equivalent ounces. The company graduated to a senior listing on January 21, 2026 and is listed on both TSX Venture Exchange and NASDAQ.
Differentiator
Problem solved
Functional benefit
Products and services
- Bolivar Mine Underground silver mine located in Bolivia, operated by Grupo Minero Sinchi Wayra. Produces silver and base metal concentrates as part of Santacruz's polymetallic production portfolio. Recovery from the May 2025 flooding incident is ongoing, with full production recovery expected by Q4 2026.
- Porco Mine Bolivian mining complex operated by Grupo Minero Sinchi Wayra, producing silver and associated base metal concentrates for sale to global smelters.
- Caballo Blanco Mine Bolivian mining complex operated by Grupo Minero Sinchi Wayra, contributing silver and base metal concentrate output to the company's polymetallic production portfolio.
- Reserva Mine Bolivian mining complex operated by Grupo Minero Sinchi Wayra, part of Santacruz's Bolivian asset portfolio producing silver and base metal concentrates.
- Zimapan Mine Underground mine located in Mexico producing silver, zinc, lead, and copper concentrates. Operated by Santacruz as part of its polymetallic production strategy, serving as the company's Mexican asset base.
- Soracaya Project High-grade silver development project in Bolivia where development work and full production permitting has commenced. Progressing toward a construction decision with initial production targeted for late 2026, providing a near-term growth catalyst for the company.
Companies that use Santacruz Silver Mining
Customer profileSegments1 record
Ideal customer profiles1 record
Santacruz Silver Mining technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Santacruz Silver Mining partnerships and signals
Strategic signalPartnerships
One partnership is on record.
- COMIBOL (Bolivian State Mining Company)coreIllapa JV with COMIBOL provides 45% economic interest in certain Bolivian operations. The JV has a 2028 expiration deadline and limits Santacruz's economic interest to 45% in those properties.
Scale indicators9 records
Recent moves7 records
Expansion highlights5 records
Santacruz Silver Mining competitors and assessment
Company assessmentBroad incumbents
- SSR Mining Inc. Diversified mid-tier precious metals producer with silver exposure and operations across the Americas, Türkiye, and Australia. Comparable on polymetallic silver-base-metal portfolio but at broader scale and geographies.
- Industrias Peñoles S.A.B. de C.V. Major Mexican mining conglomerate producing silver, gold, zinc, lead, and copper, with integrated smelting and refining. Comparable as a much larger, diversified Latam incumbent in the same metals.
Emerging players
- MAG Silver Corp. Development-stage silver company focused on the Juanicipio project in Mexico. Comparable as a silver-focused, Mexico-operating peer at an earlier stage of production scale.
- SilverCrest Metals Inc. Silver-gold producer with operations in Mexico. Comparable emerging silver producer with shared Latin American footprint and silver-focused thesis.
Direct peers
- Endeavour Silver Corp. Silver-focused mid-tier producer operating underground silver-gold mines in Mexico. Comparable operating geography and silver exposure, with similar production scale.
- Coeur Mining, Inc. U.S.-listed precious metals miner with silver-dominant operations in Mexico and the U.S., producing silver, gold, and zinc. Direct comparable on silver exposure and Americas geography.
- Hecla Mining Company: U.S.-listed silver producer with operations across North America (including Mexico), producing silver along with lead, zinc, and gold. Comparable diversified silver and base-metal model.
- First Majestic Silver Corp. Pure-play silver producer with operating mines concentrated in Mexico, producing silver and by-product base metals. Closely aligned with Santacruz on geography and silver-centric portfolio.
- Pan American Silver Corp. Mid-tier silver producer operating primarily in Latin America (Mexico, Peru, Bolivia, Argentina), with diversified silver and base metal production. Direct comparable given shared geography and polymetallic focus.
- Fortuna Mining Corp. (formerly Fortuna Silver Mines): Mid-tier precious metals producer with silver mines in Mexico, Peru, and Argentina, and a growing gold footprint. Highly comparable as a Latin America-focused silver producer.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat3 records
Key risks6 records
Key highlights7 records
Customer concentration
Santacruz Silver Mining social profiles
Digital presenceSantacruz Silver Mining compliance and trust
Trust signalCompliance2 records
Santacruz Silver Mining financial estimates
Financial estimateRevenue estimate
Valuation estimate
Santacruz Silver Mining leadership team
Management profileNumber of profiles
Profiles2 records
Santacruz Silver Mining subsidiaries and ownership
Company hierarchySubsidiaries3 records
Santacruz Silver Mining funding detail
Funding detailFunding overview
Funding rounds10 records
Investors1 record
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Santacruz Silver Mining M&A and investment
M&A and investmentM&A1 record
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Santacruz Silver Mining
What does Santacruz Silver Mining do?
Santacruz Silver Mining is a diversified polymetallic mining company that extracts and sells silver, zinc, lead, and copper concentrates produced from underground mines. The company operates four mining complexes in Bolivia (Bolivar, Porco, Caballo Blanco, Reserva) and the Zimapan mine in Mexico, marketing concentrates to global smelters and industrial buyers at commodity-linked prices.
Is Santacruz Silver Mining a public or private company?
Santacruz Silver Mining is a public company. It is classified as public and is currently operating.
When was Santacruz Silver Mining founded?
Santacruz Silver Mining was founded in 2003. It employs 51 to 100 people.
Where is Santacruz Silver Mining based?
Santacruz Silver Mining is headquartered in Vancouver, Canada, in the North America region.
How does Santacruz Silver Mining make money?
One revenue line is on record: silver and Base Metal Sales.
Who are Santacruz Silver Mining's main competitors?
Broad incumbents on record are SSR Mining Inc. and Industrias Peñoles S.A.B. de C.V.. Emerging players are MAG Silver Corp. and SilverCrest Metals Inc.. Direct peers are Endeavour Silver Corp., Coeur Mining, Inc., Hecla Mining Company, First Majestic Silver Corp., Pan American Silver Corp. and Fortuna Mining Corp. (formerly Fortuna Silver Mines).
Does Santacruz Silver Mining have an API?
No public API is recorded for Santacruz Silver Mining.
What industry is Santacruz Silver Mining in?
Santacruz Silver Mining's product category is Silver and Base Metals Mining. Its primary akta.pro industry code is IMAKAEAB, Silver Mining. Its NAICS code is 212220 and its SIC code is 1040.