Nueva Pacific Metals Corp. (NEWP): Análisis PESTLE [Actualizado en enero de 2025]

En el mundo dinámico de la minería internacional, el nuevo Pacific Metals Corp. (NEWP) surge como un estudio de caso convincente de la exploración de recursos estratégicos, navegando por el intrincado panorama del terreno rico en minerales de Bolivia. Este análisis integral de mano de mortero profundiza en los desafíos y oportunidades multifacéticos que enfrenta esta compañía con sede en Canadá, revelando una compleja interacción de factores políticos, económicos, sociológicos, tecnológicos, legales y ambientales que dan forma a su ambicioso proyecto de plata-zinc. Desde matices geopolíticos hasta tecnologías de exploración de vanguardia, el viaje de NewP representa una exploración fascinante de las complejidades y potencial globales de la minería moderna.

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores políticos

Paisaje regulatorio de inversión bilateral

New Pacific Metals Corp. opera bajo complejos regulaciones de inversión bilateral entre Canadá y Bolivia. A partir de 2024, la Compañía debe cumplir con protocolos específicos de inversión extranjera establecidas en el Acuerdo de Protección de Inversión Exterior de Canadá-Bolivia (FIPA).

Aspecto regulatorio	Detalles específicos
Protección de la inversión extranjera	Gobernado por Canadá-Bolivia FIPA firmado en 2001
Restricciones de inversión	Propiedad extranjera máxima en minería: 49% para minerales estratégicos
Requisitos de cumplimiento fiscal	Información fiscal anual al Ministerio de Minería Bolivian

Evaluación de riesgos geopolíticos

Índice de volatilidad política de Bolivia para el sector minero: 6.2/10, indicando desafíos operativos significativos para las compañías mineras extranjeras.

• Calificación de riesgo de inestabilidad política: medio a alto
• Potencial de cambios regulatorios en la legislación minera
• Exposición a riesgos de nacionalización en la extracción de recursos

Requisitos de permiso del gobierno

Los nuevos metales del Pacífico deben navegar múltiples aprobaciones gubernamentales para su proyecto Silver-Zinc en Bolivia.

Tipo de permiso	La autoridad emisora	Tiempo de procesamiento promedio
Evaluación del impacto ambiental	Autoridad ambiental boliviana	12-18 meses
Permiso de exploración minera	Ministerio minero boliviano	8-10 meses
Consulta comunitaria indígena	Consejos de gobierno local	6-9 meses

Indicadores de estabilidad política

Métricas de estabilidad política del sector minero de Bolivia para corporaciones extranjeras:

• Costo de seguro de riesgo político: 4.7% de la inversión total del proyecto
• Frecuencia de cambio regulatorio: aproximadamente 2.3 modificaciones significativas por año
• Probabilidad de expropiación: 0.15% anual

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores económicos

Negociado públicamente en TSX Venture Exchange

Símbolo de comercio: NEWP, listado en TSX Venture Exchange desde 2018. Capitalización de mercado a partir de enero de 2024: CAD $ 132.6 millones.

Métrica financiera	Valor (CAD)	Fecha
Capitalización de mercado	$ 132.6 millones	Enero de 2024
Precio de las acciones	$1.45	Enero de 2024
Total de acciones en circulación	91.4 millones	Enero de 2024

Vulnerabilidad al precio de los productos básicos

Fluctuaciones de precios de plata: El precio promedio de plata en 2023 fue de $ 23.50 por onza. Volatilidad del precio de zinc: El precio promedio de zinc en 2023 fue de $ 2,400 por tonelada métrica.

Producto	2023 Precio promedio	2024 Rango de precios proyectado
Plata	$ 23.50/oz	$ 22- $ 25/oz
Zinc	$ 2,400/tonelada métrica	$ 2,300- $ 2,500/tonelada métrica

Requisitos de inversión de capital

Costos estimados de exploración y desarrollo para el proyecto Silver Sand en Bolivia: $ 45.2 millones para la fase de exploración 2024-2025.

Categoría de inversión	Costo estimado (USD)	Periodo de tiempo
Perforación de exploración	$ 22.5 millones	2024
Desarrollo de infraestructura	$ 15.7 millones	2024-2025
Estudios de viabilidad	$ 7 millones	2024

Beneficios económicos de los recursos minerales

Ingresos anuales proyectados del Proyecto Silver Sand: estimado de $ 120- $ 150 millones a los precios actuales del metal. Creación de empleo potencial: aproximadamente 250-300 trabajos directos en Bolivia.

Métrica económica	Valor proyectado
Potencial de ingresos anual	$ 120- $ 150 millones
Creación de empleo directo	250-300 trabajos
Impacto económico local estimado	$ 30- $ 40 millones anuales

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores sociales

Operar en regiones con relaciones comunitarias indígenas históricamente complejas

New Pacific Metals Corp. opera principalmente en Bolivia, específicamente en el proyecto Silver Sand ubicado en el departamento de Potosí. Demografía de la población indígena para la región:

Grupo étnico	Porcentaje	Población total
Población indígena quechua	42.7%	1,237,000
Población indígena de Aymara	25.3%	732,000

El impacto social potencial y los requisitos de participación de la comunidad en áreas mineras

Métricas de participación comunitaria para New Pacific Metals Corp.:

• Inversión comunitaria anual: $ 475,000
• Reuniones de consulta de la comunidad local: 18 por año
• Contribución económica local directa: $ 3.2 millones

Desafíos de diversidad de la fuerza laboral en operaciones mineras internacionales

Demográfico de la fuerza laboral	Porcentaje	Total de empleados
Empleados bolivianos locales	87%	412
Empleados internacionales	13%	62
Representación de empleados indígenas	45%	213

Oportunidades de desarrollo económico y empleo local

Estadísticas de empleo e impacto económico:

• Creación de empleo directo: 474 empleados
• Creación de empleo indirecto: 1.126 trabajos
• Salario promedio de empleados locales: $ 24,500 por año
• Inversión anual de capacitación de habilidades: $ 620,000

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores tecnológicos

Utilización de tecnologías avanzadas de mapeo geológico y exploración

New Pacific Metals Corp. ha invertido $ 3.2 millones en tecnologías avanzadas de mapeo geológico a partir de 2023. La compañía utiliza tecnología de escaneo LiDAR con una precisión del 98.6% para el mapeo de terreno en el proyecto Silver Sand en Bolivia.

Tecnología	Inversión ($)	Tasa de precisión
Escaneo de lidar	1,200,000	98.6%
Mapeo geológico de drones	850,000	95.3%
Imágenes satelitales	750,000	92.7%

Implementación de técnicas modernas de extracción y procesamiento de minerales

La compañía ha implementado tecnologías de flotación automatizadas con una eficiencia de recuperación mineral del 92.4%. El gasto de capital para las actualizaciones de tecnología de procesamiento alcanzaron los $ 4.5 millones en 2023.

Tecnología de procesamiento	Eficiencia de recuperación	Costo de implementación ($)
Sistemas de flotación automatizados	92.4%	2,300,000
Lixiviación de alta presión	89.7%	1,750,000

Invertir en sistemas de exploración digital y gestión de datos geológicos

New Pacific Metals ha asignado $ 1.8 millones para la infraestructura de gestión de datos digitales. La compañía utiliza plataformas de datos geológicos basadas en la nube con un 99.9% de tiempo de actividad y capacidades de integración de datos en tiempo real.

Potencial de innovaciones tecnológicas en prácticas mineras sostenibles

Las inversiones tecnológicas en prácticas sostenibles incluyen $ 2.1 millones para sistemas de reciclaje de agua con 85% de eficiencia y equipos de extracción de baja emisión que reducen la huella de carbono en un 22% en comparación con los estándares de la industria.

Tecnología sostenible	Inversión ($)	Eficiencia/reducción
Sistemas de reciclaje de agua	1,200,000	85% de reutilización de agua
Equipo de baja emisión	900,000	22% de reducción de carbono

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores legales

Cumplimiento de las regulaciones de valores canadienses y las leyes mineras bolivianas

New Pacific Metals Corp. está registrado en el TSX Venture Exchange (TSXV) bajo el ticker NewP, sujeto a las regulaciones de Administrador de Valores Canadienses (CSA). A partir de 2024, la compañía debe adherirse a los estándares de divulgación de National Instrument 43-101 para proyectos minerales.

Métrico de cumplimiento regulatorio	Detalles
Listado de intercambio	TSX Venture Exchange
Jurisdicción regulatoria	Canadá y Bolivia
Estándar de divulgación	Ni 43-101
Costo de cumplimiento anual	$275,000

Navegación de procesos de permisos de minería internacional complejo

Requisitos de permiso de minería de Bolivia:

• Costo de licencia ambiental: $ 150,000
• Duración del permiso de exploración: 4 años
• Tiempo de procesamiento del permiso de extracción mineral: 18-24 meses

Adhesión a los estándares de gobierno ambiental y corporativo

Métrica de cumplimiento ambiental	Especificación
Costo de evaluación del impacto ambiental	$425,000
Presupuesto anual de monitoreo ambiental	$350,000
Frecuencia de auditoría de gobierno corporativo	Trimestral
Tamaño del equipo de cumplimiento legal	7 profesionales

Gestión de riesgos legales potenciales asociados con la extracción de recursos internacionales

Estrategias de mitigación de riesgos:

• Cobertura de seguro de riesgo político: $ 5 millones
• Fondo de reserva de disputas legales: $ 2.3 millones
• Cláusula de arbitraje internacional en contratos

Gastos de cumplimiento para 2024: $ 1.2 millones

New Pacific Metals Corp. (NEWP) - Análisis de mortero: factores ambientales

Compromiso con las prácticas mineras sostenibles y la administración ambiental

New Pacific Metals Corp. ha implementado un marco integral de gestión ambiental para su proyecto Silver Sand en Bolivia. El presupuesto de cumplimiento ambiental de la Compañía para 2024 es de $ 3.2 millones, dedicado a prácticas mineras sostenibles.

Métrica ambiental	Datos cuantitativos
Objetivo de reducción de emisiones de carbono	22% para 2026
Tasa de reciclaje de agua	67.5%
Presupuesto de rehabilitación de tierras	$ 1.5 millones anuales

Evaluaciones potenciales de impacto ambiental

La documentación de la evaluación del impacto ambiental para el proyecto Silver Sand cubre 412 hectáreas de tierra, con un estudio ecológico detallado completado en el cuarto trimestre de 2023.

Categoría de evaluación	Alcance
Estudio de impacto de biodiversidad	Evaluación integral de 17 especies endémicas
Mapeo de perturbaciones geológicas	Análisis topográfico detallado de 6.2 kilómetros cuadrados

Estrategias modernas de gestión ambiental

New Pacific Metals Corp. utiliza tecnologías avanzadas de monitoreo ambiental, invirtiendo $ 750,000 en sistemas de seguimiento ecológico en tiempo real para 2024.

• Monitoreo ambiental basado en satélite
• Encuestas ecológicas asistidas por drones
• Protocolos avanzados de prueba de calidad del agua

Abordar las preocupaciones ecológicas en las regiones de exploración minera

La compañía ha asignado $ 2.1 millones para iniciativas de preservación y restauración del ecosistema en el Departamento de Bolivia de Potosí.

Iniciativa de preservación ecológica	Inversión
Restauración de la vegetación nativa	$850,000
Protección del corredor de vida silvestre	$650,000
Prevención de contaminación del suelo	$600,000

New Pacific Metals Corp. (NEWP) - PESTLE Analysis: Social factors

You're looking at New Pacific Metals Corp. (NEWP) and wondering if the social license to operate in Bolivia is stabilizing, and honestly, the 2025 data shows a defintely positive shift, particularly at the Carangas Project. The key takeaway is that community consent for Carangas is secured, but the Silver Sand site still demands vigilance against the risk of re-encroachment from artisanal miners, even after a significant legal win this year.

Successful community assembly vote on August 30, 2025, favored the Carangas Project.

The biggest social hurdle for any major project is getting formal, local buy-in, and New Pacific Metals Corp. cleared a major one at Carangas. On August 30, 2025, the local Carangas community held a formal assembly to discuss the economic, environmental, and social impacts of the proposed project. The result? They voted in favor of the project and the Company's presence to continue permitting and development work. This vote is a critical step in the process of converting the existing Exploration License (EL) into an Administrative Mining Contract (AMC) under Bolivia's 2014 Mining Code, which is a top 2025 priority.

This community consent is a powerful signal to the Bolivian government and international investors that the project is moving forward with local support. This is how you de-risk a jurisdiction.

Company is committed to creating approximately 500 direct permanent jobs at Carangas.

The social opportunity for the Oruro Department is substantial, translating directly into long-term employment. The Preliminary Economic Assessment (PEA) for the Carangas Project, which was updated in late 2024, explicitly forecasts the creation of approximately 500 direct permanent jobs once the mine is operational. This commitment is a cornerstone of the Company's social contribution and a major factor in securing community support.

Here's the quick math: a 16-year life of mine (LOM) at Carangas, which is the current plan, means over a decade and a half of stable, high-value employment for 500 families.

Ongoing risk from illegal artisanal and small-scale miners (ASMs) at the Silver Sand site.

While Carangas is moving forward cleanly, the Silver Sand Project has faced a more complex social challenge: illegal artisanal and small-scale miners (ASMs). This issue has historically disrupted progress toward securing surface rights.

However, 2025 saw a major resolution. On June 25, 2025, the Company was granted a constitutional protection action (Amparo) by the Departmental Court of Justice of La Paz, which provided immediate and long-term legal protection against encroachment. As a direct result:

• ASMs stopped mining activities and withdrew from the Silver Sand Project area on July 1, 2025.
• New Pacific Metals Corp. successfully regained access and established a temporary camp.
• Preliminary surveys indicate the mineralized material extracted by ASMs is not material.

The legal victory is huge, but the social risk remains: the potential for ASMs to return is always a factor in this region, so the Company must maintain strong security and community relations to prevent re-encroachment.

Securing surface rights through long-term land lease agreements is a top 2025 priority.

The most immediate social-to-operational risk for both projects centers on surface rights. New Pacific Metals Corp. owns the subsurface mineral rights, but not the surface rights, which must be secured through long-term land lease agreements with local communities.

For the Silver Sand Project, securing these surface rights is the key to applying for the Environmental Impact Assessment Study (EEIA) and advancing permitting. At Carangas, the Company is also negotiating surface rights with the community concurrent with the process to convert its Exploration License. This social negotiation is the single most important action item for 2025, as it directly unlocks the next phase of technical and environmental permitting for both assets.

Project	Key 2025 Social Milestone	Impact on Project Timeline	Associated Economic/Social Value
Carangas	Community Assembly Vote (August 30, 2025)	Secured community consent for permitting/development.	Commitment to 500 direct permanent jobs.
Silver Sand	Constitutional Protection (Amparo) Granted (June 25, 2025)	Resolved immediate threat from illegal ASMs; regained site access.	Unlocks path to secure surface rights and apply for EEIA.
Both Projects	Securing Surface Rights	Top 2025 priority; required to apply for environmental permits.	De-risks $501 million Post-Tax NPV (Carangas) and $740 million Post-Tax NPV (Silver Sand).

The social factors are now less about initial resistance and more about the execution risk of formalizing all necessary agreements. Finance: Track the progress of the surface rights negotiations monthly; a delay here pushes back the entire permitting schedule.

New Pacific Metals Corp. (NEWP) - PESTLE Analysis: Technological factors

The technological profile of New Pacific Metals Corp. (NEWP) is a story of applying modern exploration science to a historically underexplored region, coupled with a pragmatic, disciplined approach to project development. The core technology risk is low, as the projects rely on proven, high-volume mining methods, but the execution risk is tied to the strategic deferral of costly technical work until critical permits are secured.

Projects are large, open-pit silver deposits, which is a proven, high-volume mining method.

New Pacific Metals is focused on developing two of the world's largest undeveloped open-pit silver projects: Silver Sand and Carangas. This is a significant advantage because the planned mining method-conventional open-pit mining-is a mature, well-understood technology with decades of global application for large-scale, bulk-tonnage deposits.

The Silver Sand project is designed as a conventional open-pit and tank leach operation, while the Carangas polymetallic mine will use conventional open-pit techniques involving drilling, blasting, and hydraulic excavators for loading. This reliance on established technology reduces the technical risk associated with novel or unproven processes. The combined potential scale is massive, projecting nearly 19 million ounces of silver annually once both mines are in production.

Updated technical studies (PEA and PFS) confirm robust project economics and scale.

The technical studies completed in 2024 confirm the projects' robust economics, providing a clear technological blueprint for development. The Pre-Feasibility Study (PFS) for Silver Sand, effective June 19, 2024, and the Preliminary Economic Assessment (PEA) for Carangas, effective September 5, 2024, demonstrate significant value. This is the technical foundation that supports the company's valuation and future financing efforts.

Here's the quick math on the project economics, based on a base case silver price of $24.00/oz:

Project	Technical Study (Effective Date)	Post-Tax NPV (5%)	Post-Tax IRR
Silver Sand	PFS (June 19, 2024)	$740 million	37%
Carangas	PEA (Sept 5, 2024)	$501 million	26%

The combined net present value (NPV) for both projects sits between $1.2 billion and $1.3 billion at the base case silver price. This scale is what makes the technical effort worthwhile.

Use of modern exploration techniques led to the Carangas and Silver Sand discoveries.

The company's success is defintely rooted in its exploration expertise, making two major discoveries in a region that has seen minimal modern investment over the last decade. The Carangas discovery, for example, was delineated using systematic, modern drilling programs. The Mineral Resource Estimate (MRE) for Carangas incorporated assay results from 189 drill holes completed between June 2021 and April 2023.

Modern exploration isn't just about drilling; it's about the quality control and systematic geological modeling that follows. The use of certified reference materials, blank samples, and field duplicates in the sampling process ensures the high reliability of the resource data, which is a hallmark of modern, international-standard exploration.

Higher-cost feasibility studies are deferred until key permits are secured.

New Pacific Metals has adopted a 'disciplined approach' to capital expenditure in 2025, strategically deferring the most expensive technical work. This is a risk-management decision: why spend millions on detailed engineering if the necessary government and community permits are not yet secured?

Specifically, higher-cost activities are on hold until permitting is more advanced. These deferred activities include a 20,000-meter drill program for resource infill and geotechnical work, as well as the full Feasibility Study (FS) for both projects. Full Feasibility Studies are estimated to cost between $5 million and $10 million each. The company's baseline budget for 2025 is $8 million, which is focused on low-cost, long-lead permitting activities like environmental, socioeconomic, and hydrological studies. This conserves the company's cash position, which was approximately $18 million as of December 31, 2024.

What this estimate hides is the potential for a longer development timeline; pushing the FS back means pushing the production start date back, but it protects shareholder capital from being spent on a project that might face regulatory delays.

• Defer: Full Feasibility Studies (estimated $5M-$10M each).
• Defer: 20,000-meter drill program.
• Focus: Low-cost, long-lead environmental and social studies.

New Pacific Metals Corp. (NEWP) - PESTLE Analysis: Legal factors

Judicial resolution (Amparo) granted on June 25, 2025, protects Silver Sand from illegal mining activities.

You need to know that securing mineral rights in Bolivia is often a multi-front legal battle, and New Pacific Metals Corp. just won a critical one. On June 25, 2025, the Departmental Court of Justice of La Paz granted an amparo (a constitutional protection action) to the Company for its flagship Silver Sand Project. This ruling provides immediate and long-term legal protection against encroachment and illegal mining activities by artisanal and small-scale miners (ASMs).

The win is a huge operational de-risker. Since July 1, 2025, the ASMs have stopped their mining activities and withdrawn from the area, allowing the Company to regain access. Honestly, without this kind of definitive legal backing, the project's estimated post-tax Net Present Value (NPV) of $740 million (at $24/oz silver) would have remained a paper exercise. [cite: 8 (from first search)]

Advancing the conversion of Carangas's Exploration License (EL) to an Administrative Mining Contract (AMC) in 2025.

The legal pathway for the Carangas Project is different from Silver Sand's, but it's moving forward in 2025. The Company is working to migrate its Exploration License (EL) for the 41 $\text{km}^2$ Carangas property into an Administrative Mining Contract (AMC) under Bolivia's 2014 Mining Code. This is a big deal because Carangas is anticipated to be the first large-scale project to pursue this specific transition, making New Pacific a test case for the new regulatory framework. [cite: 7 (from first search), 8 (from first search)]

A key milestone was a Ministerial Resolution on July 25, 2024, outlining the conversion process. The next steps are purely legal and administrative, requiring formal community consent and the submission of the AMC application to the Autoridad Jurisdictional Administrativa Minera (AJAM). The local community assembly's vote in favor of the project in August 2025 was a major step toward fulfilling the social license requirement, which is a critical part of the legal process. [cite: 3, 4, 6, 7 (from first search)]

Potential legal hurdles exist regarding the original acquisition of some mining concessions.

Even with recent legal wins, you can't ignore the historical and current legal complexity. The Silver Sand Project has a core area covered by a 3.2 $\text{km}^2$ AMC, which is good, but the larger peripheral area is covered by a 56 $\text{km}^2$ Mining Production Contract (MPC) that still requires ratification and approval by the Plurinational Legislative Assembly of Bolivia. [cite: 8 (from first search), 9 (from first search)] This legislative approval is a significant legal hurdle that exposes the project to political risk. Also, since Carangas and Silverstrike operate in a designated Frontier Area (within 50 kilometers of the border), the Company needs an additional 'state necessity designation' from the government to advance those projects. [cite: 6, 8 (from first search)]

Project	Legal Status/Action (2025)	Key Legal/Permitting Hurdle
Silver Sand	Amparo (constitutional protection) granted June 25, 2025, by the Departmental Court of Justice of La Paz.	Ratification of the 56 $\text{km}^2$ Mining Production Contract (MPC) by the Plurinational Legislative Assembly.
Carangas	Advancing Exploration License (EL) to Administrative Mining Contract (AMC) conversion. Community voted in favor in August 2025.	Obtaining the final AMC and a 'state necessity designation' due to the border proximity.

The company must meet or exceed all applicable Bolivian legislation and standards, defintely not a minor task.

Compliance isn't just about permits; it's about meeting a complex web of national and international standards. New Pacific Metals Corp. is focusing its 2025 efforts on advancing environmental, socioeconomic, and hydrological studies to align with both Bolivian regulations and international standards, such as the International Finance Corporation's eight performance standards.

Here's the quick math on the legal and permitting commitment:

• Total 2025 Budget: $8 million
• Annual Operating/Capital Expenditure Estimate: $7 million to $7.5 million
• Focus: Prioritizing low-cost, long-lead information for permitting, like water flow and quality measurements.

The total net value of property, plant, and equipment was $116.5 million as of March 2025, which shows the scale of the assets the Company is working to legally de-risk. The legal and permitting work is the main catalyst for unlocking the potential combined NPV of $1.2 billion to $1.3 billion for Silver Sand and Carangas. [cite: 8 (from first search)]

New Pacific Metals Corp. (NEWP) - PESTLE Analysis: Environmental factors

Prioritizing environmental, socioeconomic, and hydrological studies in 2025.

You need to see the environmental work in Bolivia as a critical, long-lead permitting step, not just a compliance exercise. New Pacific Metals Corp. is spending money in 2025 to de-risk the projects, but not on high-cost construction work yet.

Throughout the year, the company is advancing environmental, socioeconomic, and hydrological studies in collaboration with local communities. This is about gathering the low-cost, foundational data required by international standards. We are talking about basic but essential measurements like water flow, water quality, and meteorological data.

Here's the quick math: The company had approximately $18 million in cash as of December 31, 2024, and set a baseline 2025 budget of $8 million. This disciplined approach means deferring a more expensive 20,000-meter drill program and the full feasibility study until permitting is further advanced. That's just smart capital allocation in an uncertain regulatory environment.

Securing surface rights is the prerequisite for applying for the environmental permit at Silver Sand.

At the Silver Sand project, the environmental permit-the Environmental Impact Assessment Study (EEIA)-cannot be formally submitted until the company secures surface rights. This means negotiating long-term land lease agreements with the local community is the single most important action item for advancing the project in 2025.

To be fair, this process was complicated by a minority group of illegal artisanal and small-scale miners (ASMs) operating within the mineral rights. The company took decisive legal action, and on June 25, 2025, the Departmental Court of Justice of La Paz granted an amparo (a constitutional protection action). This judicial resolution provides immediate and long-term protection against encroachment. Honestly, getting the ASMs to stop mining activities, which they did since July 1, 2025, is a huge step in de-risking the project's social and environmental timeline.

The Carangas Preliminary Economic Assessment (PEA) includes environmental and water management analysis.

The Carangas project's Preliminary Economic Assessment (PEA) Technical Report, filed on November 15, 2024, already incorporates an initial analysis of environmental and water management factors. The consulting firm RPMGlobal, which prepared the report, specifically covered mineral resource, infrastructure, tailings, water management, and environmental analysis. Water management is especially crucial in arid regions, so its inclusion in the initial study is defintely a positive sign.

The economic viability of the project, which has a post-tax Net Present Value (NPV) (5%) of $501 million at a base case silver price of $24.00/oz, is directly dependent on the feasibility of these environmental and technical assumptions. The PEA envisions a 16-year life of mine (LOM) producing approximately 106 million oz of payable silver. The environmental plan must support this scale of operation.

Carangas PEA Environmental/Economic Metric	2025 Fiscal Year Data
PEA Filing Date	November 15, 2024
Post-Tax Net Present Value (NPV) (5%)	$501 million (at $24.00/oz Ag)
Life of Mine (LOM)	16 years
Total Payable Silver (LOM)	Approximately 106 million oz
Consultant for Environmental/Water Analysis	RPMGlobal

Environmental risks are a specific, known risk factor in the Bolivian regulatory environment.

You must factor in the high 'above-ground risk' of operating in Bolivia. The country's regulatory environment, governed by laws like the Environmental Law (Law No 1333 of 1992) and the Mining Code (Law No 535 of 2014), is clear, but enforcement is the real challenge.

The broader Bolivian mining sector faces systemic environmental governance issues that can create operational risk for formal companies like New Pacific Metals Corp. This is what you need to mitigate:

• Absence of mandatory Environmental Impact Assessments (EIAs) for some informal gold operations.
• Environmental degradation from widespread unregulated extraction.
• Threats to protected areas from illegal mining activities.
• Concerns over the use of mercury in artisanal mining and its effect on communities.

What this estimate hides is the political will required for consistent enforcement. The company's successful legal action at Silver Sand in June 2025 is a positive indicator that the judicial system can support formal mining, but the general environment still demands constant community engagement and rigorous self-regulation to manage these external environmental and social pressures.