Pan American Silver Corp has stated that its Chairman, Ross Beaty, last week met with the President of Argentina, Mauricio Macri, during the Argentina Business and Investment Forum in Buenos Aires. During their meeting, Macri and Beaty discussed the prospects of the mining industry in Argentina, including the Company’s Navidad project, located in the province of Chubut, which is one of the largest undeveloped silver deposits in the world.

Pan American says it is very encouraged with the policies that have been introduced by Macri’s administration to make Argentina an attractive place for local and foreign investments. Under a favorable investment and legal framework in Argentina, Pan American “remains committed to the safe and environmentally responsible development of this world class silver deposit.”

Current laws in Chubut, however, prohibit open pit mine development. As such, Pan American has made no investment or construction decision on the Navidad project. Before any investment decision would be considered by the company, existing provincial laws would have to be reformed and Pan American would have to obtain all required permits, as well as update the technical and economic analysis of the project.