Santacruz Silver Mining (SCZM) produced 1,500,958 ounces of silver in Q3 2026 across its mining and ore processing operations.
Consolidated silver output fell 5% quarter over quarter but rose 21% year over year. Zinc output was 22,080 tonnes, down 5% sequentially and up 2% annually. Lead and copper output reached 3,316 and 355 tonnes. Mining-only silver production rose 2% sequentially to 1,186,507 ounces, while San Lucas ore processing silver output fell 24%. Bolivar silver output increased 19% sequentially to 408,087 ounces.
Santacruz expects full recovery of Bolivar's flood-affected areas in Q4 2026. A new 500-tonne-per-day mill for San Lucas is scheduled to finalize acquisition and begin operations in Q4. The company expects higher consolidated production next quarter, supported by Bolivar's recovery, the new mill and higher silver grades at Caballo Blanco.
Santacruz Silver (SCZM) has acquired a 500-tonne-per-day milling facility in Bolivia, comprising two 250-tpd processing circuits with selective flotation for lead and zinc with high-grade silver contents. The plant will be dedicated to ore from Santacruz’s wholly owned Bolivian subsidiary, San Lucas, supporting expansion of the company’s third-party ore-sourcing business.
By shifting San Lucas materials to this facility, Santacruz will free capacity at its three existing mine processing plants to increase production from its own Bolivian operations. The mill is located about 5 kilometres from the Reserva mine in the Caballo Blanco group, providing logistical advantages and reinforcing the company’s vertically integrated model in Bolivia. Commissioning is expected in Q4 2026 with commercial production targeted by year-end 2026. Total investment is expected to be about US$14 million, including a US$9.2 million purchase price and US$4.8 million for upgrades and working capital.
Santacruz Silver Mining (SCZM) will graduate from the TSX Venture Exchange to the Toronto Stock Exchange, with trading on the TSX expected to begin at market open on September 21, 2026, under the symbol “SCZ”.
Following this uplisting, the company’s common shares are expected to be voluntarily delisted from the TSXV after market close on Friday, September 18, 2026. Santacruz states that shareholders do not need to exchange existing share or warrant certificates or take other action. The company will remain a reporting issuer in Canada, and its common shares will continue to trade on the Nasdaq Capital Market under the symbol “SCZM”, with the same CUSIP 80280U205 and ISIN CA80280U2056.
Santacruz Silver (SCZM) received conditional approval on September 8, 2026 to list its common shares on the Toronto Stock Exchange (TSX), subject to meeting customary TSX listing requirements.
Upon TSX final approval, Santacruz’s shares will be voluntarily delisted from the TSX Venture Exchange and begin trading on the TSX under the existing symbol “SCZ”. The company described this graduation as an important milestone in its evolution as a diversified Latin American silver and base metals producer and expects the TSX listing to enhance its visibility and access to global capital markets. Shareholders will not be required to take any action in connection with the graduation, and a further news release will announce the TSX trading commencement date.
Santacruz Silver (NASDAQ: SCZM) reported Q2 2026 revenue of $113.5 million, up 55% year-over-year, with gross profit of $51.1 million (+102%) and adjusted EBITDA of $46.7 million (+74%). Cash and highly liquid marketable securities reached $72.8 million (+82%), and working capital was $86.1 million (+43%).
Net income was $2.0 million, down 90% year-over-year, which the company attributed mainly to a $36.1 million income tax expense from non-recurring Bolivian foreign exchange and inflation-related events and a $15.8 million non-cash loss on revaluation of Glencore CVRs. Silver production rose 17% year-over-year, while road blockades in Bolivia constrained concentrate exports, lifting inventories by about $17.0 million but were resolved by quarter-end.
Santacruz Silver (NASDAQ: SCZM, TSXV: SCZ) announced equity awards under its Omnibus Equity Incentive Plan, granting 304,000 performance share units (PSUs), 296,000 restricted share units (RSUs) and 60,000 deferred share units (DSUs) to certain directors, officers and employees.
According to the company, PSUs vest upon achievement of performance metrics set by the Compensation Committee, while RSUs and DSUs vest in three equal annual installments from the grant date. Each vested PSU and DSU can be redeemed for one common share; each RSU can be settled in one common share or cash at the company’s election. The grants to related parties are classified as a related party transaction under MI 61-101, but Santacruz relies on exemptions from formal valuation and minority approval requirements. The company also reiterates its operations and projects in Bolivia and Mexico.
Santacruz Silver (NASDAQ: SCZM, TSXV: SCZ) announced that its wholly owned Bolivian subsidiary, Empresa Minera San Lucas, has completed the fourth offering under its promissory note program in the Bolivian capital markets on August 4, 2026.
The fourth tranche raised Bs 70 million in unsecured promissory notes, bearing an annual interest rate of 10.9985% and maturing on July 18, 2027. This issuance replaces the second offering and restores the program to its maximum authorized amount of Bs 140 million. Previous Bs 70 million offerings in 2025 and 2026 have been fully repaid. According to Santacruz, the notes were fully subscribed through the Bolsa Boliviana de Valores, supported mainly by Bolivian institutional investors, indicating ongoing local market access for San Lucas.
Santacruz Silver (NASDAQ: SCZM) reported strong Q2 2026 production, with consolidated output of 1,573,100 oz silver, 23,240 tonnes zinc, 3,165 tonnes lead, and 337 tonnes copper from its Bolivian operations (Bolivar, Porco, Caballo Blanco, San Lucas) and the Zimapan mine in Mexico.
Tonnes milled rose 7% quarter-over-quarter to 521,956, driving a 17% QoQ and 11% YoY increase in silver production and a 7% QoQ, 10% YoY increase in zinc. Silver-equivalent production reached 2,814,489 oz and zinc-equivalent production 59,680 tonnes. According to Santacruz, Bolivar silver output grew 32% QoQ to 343,522 oz as rehabilitation after the May 2025 flooding advanced, Porco and Caballo Blanco delivered higher silver and zinc production, and Zimapan improved recoveries across all four payable metals following earlier operational constraints. The company highlighted that its Bolivian mines remained supplied and fully operational despite road blockades lasting more than 50 days.
Santacruz Silver (NASDAQ:SCZM) reported a fatal injury involving an employee at the Reserva mine in Bolivia on June 24, 2026, around 6:30 pm.
Preliminary findings indicate the incident occurred outside normal duties. Operations in the affected area are suspended pending a comprehensive investigation with authorities and external experts.
Santacruz Silver (NASDAQ: SCZM) released its 2025 Sustainability Report for Mexican subsidiary Zilar Mendi (Carrizal Mining), covering ESG performance from January 1 to December 31, 2025 and prepared with reference to 2021 GRI Standards.
Highlights include electricity use of 696.31 kWh per tonne of concentrate, a 27.62% reduction in non-mineral hazardous waste, a 1.17% increase in flotation tailings aligned with higher production, and expanded recycling initiatives.
Safety programs covered 780 employees, with 2,255,624 hours worked, 657 lost days, zero workplace fatalities, 1,331 medical and psychological consultations, and zero reported violations of Indigenous Peoples’ rights. Governance actions included strengthened internal controls and plans to form a Sustainability Committee in 2026.