Pan American Silver achieves milestones at mine expansions in Mexico

Pan American Silver (NASDAQ: PAAS) (TSX: PAA)  announced today that the automation of their new 618-metre deep shaft is ahead of schedule.
According to the press release:

The shaft was constructed with a world-class safety performance of zero lost-time accidents incurred and using industry-leading raise boring and shaft automation technologies. The work remaining to complete the La Colorada expansion project includes a new filter plant, power line and underground development. The project is now expected to be completed approximately 5 to 10 percent under budget.
At the Company’s Dolores mine, the new 98 kilometre, 115 kV power line that connects the mine to the national power grid was energized in early September. The new power line was completed on budget and is expected to result in annual savings of about $9 million.
“We successfully achieved these milestones on or under budget and funded them entirely from internal resources,” said Michael Steinmann, President and CEO. “These expansion projects will contribute to higher production rates and lower costs at both operations, and as silver prices rise, our shareholders are positioned to benefit from widening profit margins.”

Click here for the full press release.