Santacruz Silver Mining Ltd. reported Q3 2026 production of 1,500,958 ounces of silver, 22,080 tonnes of zinc, 3,316 tonnes of lead and 355 tonnes of copper. Compared with Q3 2025, output rose 21% for silver, 2% for zinc, 27% for lead and 7% for copper; versus Q2 2026, silver and zinc each declined 5%.
Silver production from mining operations was 1,186,507 ounces, up 30% year over year; Bolivar produced 408,087 ounces, up 19% from Q2. Santacruz attributed lower consolidated silver and zinc output versus Q2 to lower head grades in purchased San Lucas ore and mill capacity shifted to its own mine ore, which it described as significantly higher-margin. Bolivar and Porco production is presented at 100%; Santacruz records only its 45% interest in Illapa’s assets, liabilities, revenues and expenses in its consolidated financial statements.
During Q3, Santacruz acquired a 500-tonne-per-day milling facility dedicated to San Lucas ore; the acquisition is set to finalize at the beginning of Q4 2026, with operations expected to commence during Q4. Management expects consolidated production to increase next quarter, citing the facility, the Bolivar recovery plan and higher silver head grades expected at Caballo Blanco.
Santacruz Silver Mining Ltd. (SCZM) has completed the acquisition of a 500-tonne-per-day milling facility in Bolivia, consisting of two 250 tpd circuits with selective flotation for lead and zinc with high-grade silver. The facility will be dedicated to ore from its wholly owned Bolivian subsidiary, San Lucas, supporting expansion of its third-party ore-sourcing business.
By shifting San Lucas material to this new plant, Santacruz expects to free capacity at its three existing mine processing facilities, enabling further mine development and production growth from its Bolivian operations. The mill is about 5 kilometres from the Reserva mine, providing logistical advantages within the Caballo Blanco group.
The facility is expected to be commissioned in the fourth quarter of 2026 and reach commercial production by year-end 2026. Total investment is anticipated at about US$14 million, including a US$9.2 million purchase price—of which US$4.6 million has been paid and US$4.6 million is due on November 8, 2026—and US$4.8 million for upgrades and working capital.
Santacruz Silver Mining Ltd. (SCZM) announced that its common shares 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 ticker symbol “SCZ”. Following this uplisting, the shares will be voluntarily delisted from the TSX Venture Exchange after market close on September 18, 2026. The company states that it expects the TSX listing to enhance its profile, improve access to institutional capital, and support its goal of becoming a leading Latin American silver and zinc producer. The common shares will continue to be listed on the Nasdaq Capital Market under the symbol “SCZM”, and Santacruz will remain a reporting issuer under applicable Canadian securities laws.
Santacruz Silver Mining Ltd. (SCZM) announced that it has received conditional approval from the Toronto Stock Exchange to list its common shares on the TSX, subject to satisfying customary TSX listing requirements and submitting final documentation. Upon final approval, its shares will be voluntarily delisted from the TSX Venture Exchange and will commence trading on the TSX under the existing symbol “SCZ” for Canadian trading. The company stated that shareholders will not need to take any action in connection with this graduation and that a further announcement will be made once the TSX confirms the first trading date.
Santacruz highlighted that moving to the TSX is an important milestone that it believes will enhance its visibility and profile in global capital markets and support its strategy as a Latin American silver and base metals producer with operations in Bolivia and Mexico.
Santacruz Silver Mining Ltd. reported much higher sales for the six months ended June 30, 2026, with revenues of $240,987 versus $143,609 in 2025, driven by both mining operations and ore processing. Six‑month net income was $30,475, essentially unchanged from $30,428 a year earlier, as higher income taxes and fair‑value losses offset the sales growth.
For the quarter, revenue rose to $113,458 from $73,295, but net income fell to $2,005 from $20,977, largely due to a sharp increase in income tax expense to $36,067 and a $15,788 loss on the zinc‑linked contingent value right owed to Glencore. Operating cash flow for the six months declined to $24,140 from $39,160, after working‑capital investments and tax payments of $43,161.
Liquidity improved modestly, with cash and cash equivalents of $50,398 and total assets of $490,181. Shareholders’ equity increased to $213,088 from $179,058, while loans payable decreased to $45,168. The decommissioning and restoration provision was reduced to $21,245 following updated cost estimates in Bolivia.
Santacruz Silver Mining Ltd. announced the grant of new equity incentives under its Omnibus Equity Incentive Plan. The company awarded 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.
PSUs will vest based on performance metrics set by the Compensation Committee, while RSUs and DSUs vest in equal one‑third installments on each anniversary of the grant date. Each vested PSU and DSU can be redeemed for one common share, and each vested RSU for one share or, at the company’s election, cash. The grants to related parties are treated as a related party transaction under Multilateral Instrument 61‑101, with Santacruz relying on valuation and minority‑approval exemptions.
Santacruz Silver Mining Ltd. reports that its wholly owned Bolivian subsidiary, Empresa Minera San Lucas S.A., has completed the fourth offering under its promissory note program in the Bolivian capital markets. This Offering raised Bs 70 million in unsecured promissory notes, bearing an annual interest rate of 10.9985% and maturing on July 18, 2027.
The promissory note program has a maximum authorized amount of Bs 140 million. Earlier offerings of Bs 70 million in 2025 were fully repaid in 2026, and the third and fourth offerings each replace prior tranches, restoring the program to its full capacity. The latest Offering was fully subscribed through the Bolsa Boliviana de Valores, supported by Bolivian institutional investors, and is described as further advancing the transition from a prior facility. Santacruz operates multiple mining assets in Bolivia and Mexico, with San Lucas providing ore sourcing and trading in Bolivia.
Santacruz Silver Mining Ltd. reported Q2 2026 consolidated production of 1,573,100 ounces of silver, 23,240 tonnes of zinc, 3,165 tonnes of lead and 337 tonnes of copper from its Bolivian operations and the Zimapan mine in Mexico. Tonnes milled rose to 521,956, up 7% quarter-over-quarter and 9% year-over-year, lifting silver output 17% versus Q1 2026 and 11% versus Q2 2025.
Silver-equivalent production reached 2,814,489 ounces and zinc-equivalent output 59,680 tonnes. Bolivar led growth with a 32% quarter-over-quarter silver increase as rehabilitation from the May 2025 flooding advanced, while Zimapan improved recoveries and the San Lucas ore processing business increased tonnes milled 22%. Management noted these results were achieved despite more than 50 days of road blockades in Bolivia.
Santacruz Silver Mining Ltd. reports that an employee was fatally injured at the Reserva mine in Bolivia on June 24, 2026, around 6:30 pm, after the end of the third shift. Preliminary findings indicate the incident did not occur during normal mining operations or assigned duties.
The company activated emergency response protocols, but the employee did not survive. Santacruz has suspended activities in the affected area and begun a comprehensive investigation with authorities and external experts to determine the factors involved and any necessary corrective measures.
Management emphasizes that health and safety are its highest priority and highlights existing safety procedures and training programs. The company will provide further updates on the investigation and on the timing of resuming operations in the impacted section of the Reserva mine.
Santacruz Silver Mining Ltd. has published its 2025 Sustainability Report for its Mexican subsidiary Zilar Mendi, which operated as Carrizal Mining during the period. The report, prepared with reference to the 2021 Global Reporting Initiative Standards, covers ESG performance from January 1 to December 31, 2025.
Environmentally, Carrizal Mining focused on pollution prevention, efficient resource use and regulatory compliance. Electricity consumption reached 696.31 kWh per tonne of concentrate, while non-mineral hazardous waste generation fell 27.62% versus 2024 and flotation tailings rose 1.17% in line with higher production, supported by improved handling and recycling initiatives.
On the social side, safety management covered 780 employees, with 2,255,624 hours worked, 657 lost days from occupational incidents and zero workplace fatalities. The company provided 1,331 medical and psychological consultations and reported zero cases involving violations of Indigenous Peoples’ rights. Governance efforts included stronger internal controls, performance evaluations tied to ethics, environmental and safety policies, and plans to establish a Sustainability Committee in 2026 to enhance ESG oversight.