Santacruz Silver Mining Ltd. has published its 2025 Sustainability Report for its Bolivian subsidiary, Grupo Minero Sinchi Wayra, outlining environmental, social, and governance performance across its operations.
In 2025, the company invested over US$12.8 million in environmental management and more than US$4.2 million in water treatment, reporting no discharge incidents above RMCH quality limits. Social programs received over US$1.4 million, supporting education, local infrastructure, productive projects, and community activities for 24,528 beneficiaries. Governance initiatives focused on risk management, human rights, and integrating double materiality and ESG criteria into corporate strategy, with 2026 priorities including a fully integrated corporate and financial risk management process and a comprehensive corporate risk control strategy.
Santacruz Silver Mining Ltd. filed its Annual Report on Form 40-F. The filing states the company has 92,401,115 common shares outstanding as of the close of the period covered by the annual report.
The company is a foreign private issuer and an emerging growth company (EGC). Financial statements are prepared under IFRS and audited under Canadian GAAS. The report does not include an auditor attestation on internal control over financial reporting due to the transition rules applicable to newly public EGCs.
Santacruz Silver Mining reported Q1 2026 production of 1,341,499 ounces of silver, 21,640 tonnes of zinc, 2,686 tonnes of lead, and 308 tonnes of copper from its Bolivian mines and the Zimapan mine in Mexico. Silver output was broadly flat versus Q4 2025 but 16% lower than Q1 2025, while zinc rose 4% year over year and copper increased 10%.
Bolivar’s recovery continued, with silver production up 28% quarter over quarter to 259,635 ounces despite fewer operating days, though still below Q1 2025 levels. Caballo Blanco delivered steady silver and stronger lead output, Porco remained zinc-focused, and San Lucas grew silver, zinc, and lead production versus Q1 2025. Zimapan saw lower silver, zinc, and lead volumes due to ventilation delays and power interruptions, partly offset by higher copper.
The company also updated its disclosure approach, emphasizing actual metal production and treating silver-equivalent and zinc-equivalent figures—2,281,465 AgEq ounces and 59,370 ZnEq tonnes in Q1 2026—as supplemental metrics calculated using quarterly average LME prices.
Santacruz Silver Mining Ltd. reports that its wholly owned Bolivian subsidiary, San Lucas, has completed an oversubscribed Bs 70 million unsecured promissory note Offering in the Bolivian capital markets. The notes bear annual interest of 10.8168% and mature on March 22, 2027.
This is the third Offering under San Lucas’ promissory note Program, which has a maximum authorized amount of Bs 140 million. After a prior Bs 70 million tranche was fully repaid on February 18, 2026 and a second Bs 70 million tranche was placed on August 11, 2025, the Program is now fully placed again at Bs 140 million.
The Offering was priced above par, oversubscribed by approximately 40%, and fully placed in about 15 minutes through the Bolsa Boliviana de Valores, highlighting strong demand from Bolivian investors and confidence in San Lucas’ ore sourcing and trading business and Santacruz’s broader operating platform in Bolivia.
Santacruz Silver Mining Ltd. reported audited consolidated results for the year ended December 31, 2025. Revenue rose to $326,382 thousand from $282,987 thousand in 2024, while net income was $42,222 thousand compared with $164,484 thousand a year earlier, when results were boosted by a large gain on adjustment to consideration payable and significant foreign exchange gains.
Total assets reached $445,771 thousand and shareholders’ equity increased to $179,058 thousand, reflecting earnings and share-based activity. The company recorded a $4,088-thousand reversal of impairment on the Bolivar mine and generated operating cash flows of $79,110 thousand, ending the year with cash and cash equivalents of $44,267 thousand. Independent auditors issued unmodified opinions on the 2025 and 2024 financial statements, highlighting key audit matters around impairment of mineral properties and the Illapa joint operation with COMIBOL.
Santacruz Silver Mining Ltd. reports Q4 2025 production of 3,739,019 silver equivalent ounces from its Bolivian mines and the Zimapán mine in Mexico, up 9% from Q3 2025. Silver output was 1,343,607 ounces, with 23,846 tonnes of zinc, 3,000 tonnes of lead and 287 tonnes of copper.
Quarter-over-quarter gains were driven by recovery at the Bolívar mine, where silver equivalent production rose 34% as access improved following the May 2025 flooding event. Other operations, including Caballo Blanco, San Lucas and Zimapán, delivered modest production increases while maintaining stable or improving grades and recoveries.
The company notes that 2025 full-year silver equivalent production of 14,399,019 ounces was 11% below 2024, mainly due to the earlier disruption at Bolívar. Separately, Santacruz ranked first on the 2026 TSX Venture 50 list after strong 2025 share price and market capitalization growth, and granted 45,000 stock options to Adelaide Capital for investor relations services.