Pan American Silver Corp. produced 6.75 million oz of silver at its seven operating mines during the fourth quarter of 2014, posting a silver production record of 26.11 million oz for the full year. In addition, the company produced 43,900 oz of gold during the fourth quarter of 2014, boosting the company’s consolidated gold production to an annual record of 161,500 oz, an 8% increase compared to 2013.

“We finished 2014 strongly, and it is certainly gratifying to achieve new annual production records for both silver and gold, while keeping our costs well below the low end of our guidance for the year,” said Geoff Burns, Pan American’s president and CEO. “Looking forward into 2015, we are anticipating similar consolidated silver production coupled with a modest rise in gold production, while our cash costs should remain basically flat. This production profile should position us to comfortably maintain our financial strength, even if silver prices persist at their currently depressed levels.”