XML 73 R34.htm IDEA: XBRL DOCUMENT
v3.25.0.1

Segmented Information | 12 Months Ended
--- | ---
Dec. 31, 2024
Disclosure of entity's operating segments [Abstract] |
Segmented Information | 28. SEGMENTED INFORMATION
The Company reviews its segment reporting to ensure it reflects the operational structure of the Company and enables the Company's Chief Operating Decision Maker to review operating segment performance. We have determined that each producing mine and significant development property represents an operating segment. The Company has organized its reportable and operating segments by significant revenue streams and geographic regions. From the Acquisition (Note 8) on March 31, 2023, the Company included the following mines: Jacobina, El Peñon and Minera Florida in the Gold Segment, Cerro Moro in the Silver Segment, and the MARA project in the Other Segment. These mines and projects are included in the segmented disclosures below. Significant information relating to the Company’s reportable operating segments is summarized in the table below:
For the year ended December 31, 2024 |  |  |  |  |
Segment/Country | Operation | Revenue | Production costs and royalties | Depreciation | Mine operating earnings (losses) |  | Capital expenditures(1)
Silver Segment: |  |  |  |  |  |  |
Mexico | La Colorada | $ | 161.2 |  | $ | 118.5 |  | $ | 18.2 |  | $ | 24.5 |  |  | $ | 55.0 |
Peru | Huaron | 172.5 |  | 110.6 |  | 17.3 |  | 44.6 |  |  | 56.5 |
Bolivia | San Vicente | 96.3 |  | 64.1 |  | 7.7 |  | 24.5 |  |  | 5.0 |
Argentina | Cerro Moro | 241.4 |  | 196.7 |  | 35.5 |  | 9.2 |  |  | 12.2 |
Guatemala | Escobal | — |  | — |  | — |  | — |  |  | 0.9 |
Total Silver Segment | 671.4 |  | 489.9 |  | 78.7 |  | 102.8 |  |  | 129.6 |
Gold Segment: |  |  |  |  |  |  |
Mexico | Dolores | 228.9 |  | 185.8 |  | 134.7 |  | (91.6) |  |  | 0.7 |
Peru | Shahuindo | 335.0 |  | 141.4 |  | 50.0 |  | 143.6 |  |  | 45.5 |
| La Arena (2) | 192.7 |  | 112.0 |  | 34.1 |  | 46.6 |  |  | 17.1 |
Canada | Timmins | 293.4 |  | 205.1 |  | 32.8 |  | 55.5 |  |  | 51.6 |
Brazil | Jacobina | 477.7 |  | 192.3 |  | 120.8 |  | 164.6 |  |  | 64.3 |
Chile | El Peñon | 397.7 |  | 217.2 |  | 75.1 |  | 105.4 |  |  | 36.9 |
| Minera Florida | 222.1 |  | 155.0 |  | 35.2 |  | 31.9 |  |  | 21.7 |
Total Gold Segment | 2,147.5 |  | 1,208.8 |  | 482.7 |  | 456.0 |  |  | 237.8 |
Other segment: |  |  |  |  |  |  |
Canada | Corporate | — |  | — |  | 8.6 |  | (8.6) |  |  | 5.2 |
| Other | — |  | — |  | 1.7 |  | (1.7) |  |  | 1.0 |
Total |  | $ | 2,818.9 |  | $ | 1,698.7 |  | $ | 571.7 |  | $ | 548.5 |  |  | $ | 373.6 |
(1)Includes payments for mineral properties, plant and equipment and payment of equipment leases. (2)La Arena was sold on December 2, 2024.
For the year ended December 31, 2023 |  |  |  |  |
Segment/Country | Operation | Revenue | Production costs and royalties | Depreciation | Mine operating earnings (losses) |  | Capital expenditures(1)
Silver Segment: |  |  |  |  |  |  |
Mexico | La Colorada | $ | 122.5 |  | $ | 128.1 |  | $ | 22.1 |  | $ | (27.7) |  |  | $ | 63.9 |
Peru | Huaron | 145.4 |  | 105.2 |  | 12.9 |  | 27.3 |  |  | 36.2 |
| Morococha (2) | — |  | — |  | — |  | — |  |  | 2.1 |
Bolivia | San Vicente | 91.5 |  | 69.8 |  | 9.5 |  | 12.2 |  |  | 3.8 |
Argentina | Manantial Espejo (2) | 37.7 |  | 32.4 |  | 2.0 |  | 3.3 |  |  | 0.2 |
| Cerro Moro | 214.1 |  | 160.7 |  | 23.1 |  | 30.3 |  |  | 25.4 |
Guatemala | Escobal | — |  | — |  | — |  | — |  |  | 2.1 |
Total Silver Segment | 611.2 |  | 496.2 |  | 69.6 |  | 45.4 |  |  | 133.7 |
Gold Segment: |  |  |  |  |  |  |
Mexico | Dolores | 267.5 |  | 132.6 |  | 114.3 |  | 20.6 |  |  | 8.7 |
Peru | Shahuindo | 284.7 |  | 143.7 |  | 45.3 |  | 95.7 |  |  | 57.1 |
| La Arena | 190.2 |  | 122.4 |  | 32.4 |  | 35.4 |  |  | 21.2 |
Canada | Timmins | 260.6 |  | 201.4 |  | 39.8 |  | 19.4 |  |  | 46.9 |
Brazil | Jacobina | 287.5 |  | 129.9 |  | 86.9 |  | 70.7 |  |  | 69.9 |
Chile | El Peñon | 259.4 |  | 184.2 |  | 54.2 |  | 21.0 |  |  | 18.6 |
| Minera Florida | 154.8 |  | 124.7 |  | 33.3 |  | (3.2) |  |  | 22.3 |
Total Gold Segment | 1,704.7 |  | 1,038.9 |  | 406.2 |  | 259.6 |  |  | 244.7 |
Other segment: |  |  |  |  |  |  |
Canada | Corporate | 0.2 |  | — |  | 6.2 |  | (6.0) |  |  | 6.0 |
Argentina | MARA (2) | — |  | — |  | 0.1 |  | (0.1) |  |  | 35.9 |
| Other | — |  | — |  | 2.1 |  | (2.1) |  |  | 2.7 |
Total |  | $ | 2,316.1 |  | $ | 1,535.1 |  | $ | 484.2 |  | $ | 296.8 |  |  | $ | 423.0 |
(1)Includes payments for mineral properties, plant and equipment and payment of equipment leases. (2)Manantial Espejo was placed on care and maintenance in January 2023. Morococha and MARA were sold in September 2023.
At December 31, 2024 |  |  |
Segment/Country | Operation | Assets | Liabilities | Net assets
Silver Segment: |  |  |  |
Mexico | La Colorada | $ | 470.8 |  | $ | 52.7 |  | $ | 418.1 |
Peru | Huaron | 231.5 |  | 96.3 |  | 135.2 |
Bolivia | San Vicente | 125.0 |  | 64.5 |  | 60.5 |
Argentina | Manantial Espejo(1) | 2.1 |  | 26.4 |  | (24.3) |
Guatemala | Escobal | 296.1 |  | 18.5 |  | 277.6 |
Argentina | Cerro Moro | 225.9 |  | 112.3 |  | 113.6 |
Total Silver Segment |  | 1,351.4 |  | 370.7 |  | 980.7 |
Gold Segment: |  |  |  |
Mexico | Dolores | 193.4 |  | 169.6 |  | 23.8 |
Peru | Shahuindo | 625.9 |  | 211.6 |  | 414.3 |
Canada | Timmins | 418.1 |  | 84.4 |  | 333.7 |
Brazil | Jacobina | 2,436.5 |  | 444.2 |  | 1,992.3 |
Chile | El Peñon | 732.2 |  | 198.5 |  | 533.7 |
| Minera Florida | 242.4 |  | 122.2 |  | 120.2 |
Total Gold Segment |  | 4,648.5 |  | 1,230.5 |  | 3,418.0 |
Other segment: |  |  |  |
Canada | Corporate | 820.0 |  | 789.9 |  | 30.1 |
Argentina | Navidad | 192.6 |  | 13.3 |  | 179.3 |
| Other | 190.2 |  | 81.7 |  | 108.5 |
Total |  | $ | 7,202.7 |  | $ | 2,486.1 |  | $ | 4,716.6 |
(1)Manantial Espejo was placed on care and maintenance in January 2023.
At December 31, 2023 |  |  |
Segment/Country | Operation | Assets | Liabilities | Net assets
Silver Segment: |  |  |  |
Mexico | La Colorada | $ | 428.0 |  | $ | 43.8 |  | $ | 384.2 |
Peru | Huaron | 149.5 |  | 61.0 |  | 88.5 |
Bolivia | San Vicente | 78.6 |  | 45.0 |  | 33.6 |
Argentina | Manantial Espejo(1) | 2.2 |  | 18.5 |  | (16.3) |
| Cerro Moro | 208.2 |  | 104.0 |  | 104.2 |
Guatemala | Escobal | 290.0 |  | 16.4 |  | 273.6 |
Total Silver Segment |  | 1,156.5 |  | 288.7 |  | 867.8 |
Gold Segment: |  |  |  |
Mexico | Dolores | 372.5 |  | 141.7 |  | 230.8 |
Peru | Shahuindo | 604.0 |  | 178.2 |  | 425.8 |
| La Arena | 383.7 |  | 156.6 |  | 227.1 |
Canada | Timmins | 395.1 |  | 78.5 |  | 316.6 |
Brazil | Jacobina | 2,508.2 |  | 437.5 |  | 2,070.7 |
Chile | El Peñon | 776.0 |  | 205.6 |  | 570.4 |
| Minera Florida | 219.6 |  | 103.7 |  | 115.9 |
Total Gold Segment |  | 5,259.1 |  | 1,301.8 |  | 3,957.3 |
Other segment: |  |  |  |
Canada | Corporate | 438.4 |  | 750.2 |  | (311.8) |
Argentina | Navidad | 192.1 |  | 14.3 |  | 177.8 |
| Other | 167.0 |  | 85.6 |  | 81.4 |
|  | $ | 7,213.1 |  | $ | 2,440.6 |  | $ | 4,772.5 |
(1)Manantial Espejo was placed on care and maintenance in January 2023.
Product Revenue | 2024 | 2023
Refined silver and gold | $ | 2,369.1 |  | $ | 1,954.4 |
Zinc concentrate | 101.3 |  | 83.2 |
Lead concentrate | 201.8 |  | 163.5 |
Copper concentrate | 71.7 |  | 54.6 |
Silver concentrate | 75.0 |  | 60.4 |
Total | $ | 2,818.9 |  | $ | 2,316.1 |
The Company has 25 customers that account for 100% of the concentrate and silver and gold sales revenue. The Company has 3 customers that accounted for 25%, 20% and 17% of total sales in 2024, and 3 customers that accounted for 21%, 21% and 12% of total sales in 2023. The loss of certain of these customers or curtailment of purchases by such customers could have a material adverse effect on the Company’s financial performance, financial position, and cash flows.

X
- Definition The entire disclosure for operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Name IFRS -Number 8 -IssueDate 2024-01-01 -Section Disclosure -URI https://taxonomy.ifrs.org/xifrs-link?type=IFRS&num=8&code=ifrs-tx-2024-en-r&doctype=Standard&dita_xref=IFRS08_g20-24_TI -URIDate 2024-03-27 + Details
Name: | ifrs-full_DisclosureOfEntitysReportableSegmentsExplanatory
Namespace Prefix: | ifrs-full_
Data Type: | dtr-2022:textBlockItemType
Balance Type: | na
Period Type: | duration

X
- Definition Disclosure of entity's operating segments [Abstract] + References No definition available. + Details
Name: | paas_DisclosureofentitysoperatingsegmentsAbstract
Namespace Prefix: | paas_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration