New Pacific Metals Corp. (Newp): Análise de Pestle [Jan-2025 Atualizada]

No mundo dinâmico da mineração internacional, a New Pacific Metals Corp. (NEWP) surge como um estudo de caso atraente da exploração estratégica de recursos, navegando no intrincado cenário do terreno rico em minerais da Bolívia. Essa análise abrangente de pestles investiga profundamente os desafios e oportunidades multifacetadas que essa empresa do Canadá enfrenta, revelando uma interação complexa de fatores políticos, econômicos, sociológicos, tecnológicos, legais e ambientais que moldam seu ambicioso projeto de prata-zinco de prata. De nuances geopolíticas às tecnologias de exploração de ponta, a jornada de Newp representa uma exploração fascinante das complexidades e potenciais globais da mineração moderna.

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores Políticos

Paisagem regulatória de investimento bilateral

A New Pacific Metals Corp. opera sob complexos regulamentos bilaterais de investimento entre o Canadá e a Bolívia. A partir de 2024, a Companhia deve cumprir com protocolos específicos de investimento estrangeiro estabelecidos no Contrato de Proteção ao Investimento Estrangeiro do Canadá-Bolívio (FIPA).

Aspecto regulatório	Detalhes específicos
Proteção ao investimento estrangeiro	Governado pela FIPA do Canadá-Bolívia assinada em 2001
Restrições de investimento	Propriedade estrangeira máxima na mineração: 49% para minerais estratégicos
Requisitos de conformidade tributária	Relatórios fiscais anuais ao ministério de mineração boliviana

Avaliação de risco geopolítico

Índice de volatilidade política da Bolívia para setor de mineração: 6.2/10, indicando desafios operacionais significativos para empresas de mineração estrangeira.

• Classificação de risco de instabilidade política: médio a alto
• Potencial para mudanças regulatórias na legislação de mineração
• Exposição a riscos de nacionalização na extração de recursos

Requisitos de permissão do governo

Novos metais do Pacífico devem navegar por várias aprovações governamentais para seu projeto de prata-zinco na Bolívia.

Tipo de permissão	Autoridade emissora	Tempo médio de processamento
Avaliação de impacto ambiental	Autoridade Ambiental Boliviana	12-18 meses
Permissão de exploração de mineração	Ministério da Mineração Boliviana	8-10 meses
Consulta da comunidade indígena	Conselhos do governo local	6-9 meses

Indicadores de estabilidade política

Métricas de estabilidade política do setor de mineração da Bolívia para empresas estrangeiras:

• Custo do seguro de risco político: 4,7% do investimento total do projeto
• Frequência de mudança regulatória: aproximadamente 2,3 modificações significativas por ano
• Probabilidade de expropriação: 0,15% anualmente

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores Econômicos

Negociado publicamente na TSX Venture Exchange

Símbolo de negociação: Newp, listado na TSX Venture Exchange desde 2018. Capitalização de mercado em janeiro de 2024: CAD $ 132,6 milhões.

Métrica financeira	Valor (CAD)	Data
Capitalização de mercado	US $ 132,6 milhões	Janeiro de 2024
Preço das ações	$1.45	Janeiro de 2024
Total de ações em circulação	91,4 milhões	Janeiro de 2024

Vulnerabilidade do preço de commodities

Flutuações de preço de prata: O preço médio da prata em 2023 foi de US $ 23,50 por onça. Volatilidade do preço do zinco: O preço médio do zinco em 2023 foi de US $ 2.400 por tonelada métrica.

Mercadoria	2023 Preço médio	2024 Faixa de preço projetada
Prata	$ 23,50/oz	$ 22- $ 25/oz
Zinco	US $ 2.400/tonelada métrica	US $ 2.300- $ 2.500/ton métrica

Requisitos de investimento de capital

Custos estimados de exploração e desenvolvimento do projeto de areia de prata na Bolívia: US $ 45,2 milhões para a fase de exploração de 2024-2025.

Categoria de investimento	Custo estimado (USD)	Período de tempo
Perfuração de exploração	US $ 22,5 milhões	2024
Desenvolvimento de infraestrutura	US $ 15,7 milhões	2024-2025
Estudos de viabilidade	US $ 7 milhões	2024

Benefícios econômicos dos recursos minerais

Receita anual projetada do Projeto Silver Sand: estimado US $ 120 a US $ 150 milhões a preços atuais de metal. Criação potencial de emprego: aproximadamente 250-300 empregos diretos na Bolívia.

Métrica econômica	Valor projetado
Potencial anual de receita	US $ 120 a US $ 150 milhões
Criação direta de empregos	250-300 empregos
Impacto econômico local estimado	US $ 30 a US $ 40 milhões anualmente

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores sociais

Operando em regiões com relacionamentos indígenas historicamente complexos

A New Pacific Metals Corp. opera principalmente na Bolívia, especificamente no projeto de areia de prata localizada no departamento de Potosí. Demografia populacional indígena para a região:

Grupo étnico	Percentagem	População total
População indígena de Quechua	42.7%	1,237,000
População indígena de Aymara	25.3%	732,000

Impacto social potencial e requisitos de envolvimento da comunidade em áreas de mineração

Métricas de engajamento da comunidade para o New Pacific Metals Corp.:

• Investimento comunitário anual: US $ 475.000
• Reuniões de consulta da comunidade local: 18 por ano
• Contribuição econômica local direta: US $ 3,2 milhões

Desafios de diversidade da força de trabalho em operações internacionais de mineração

Força de trabalho demográfica	Percentagem	Total de funcionários
Funcionários bolivianos locais	87%	412
Funcionários internacionais	13%	62
Representação indígena de funcionários	45%	213

Oportunidades locais de emprego e desenvolvimento econômico

Estatísticas de emprego e impacto econômico:

• Criação direta de emprego: 474 funcionários
• Criação indireta de emprego: 1.126 empregos
• Salário médio de funcionários locais: US $ 24.500 por ano
• Investimento anual de treinamento de habilidades: US $ 620.000

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores tecnológicos

Utilizando tecnologias avançadas de mapeamento e exploração

A New Pacific Metals Corp. investiu US $ 3,2 milhões em tecnologias avançadas de mapeamento geológico a partir de 2023. A empresa utiliza tecnologia de varredura LIDAR com precisão de 98,6% para mapeamento de terrenos no projeto de areia de prata na Bolívia.

Tecnologia	Investimento ($)	Taxa de precisão
LIDAR Digitalização	1,200,000	98.6%
Mapeamento geológico do drone	850,000	95.3%
Imagem por satélite	750,000	92.7%

Implementando técnicas modernas de extração mineral e processamento

A Companhia implantou tecnologias automatizadas de flotação com 92,4% de eficiência de recuperação mineral. As despesas de capital para atualizações de tecnologia de processamento atingiram US $ 4,5 milhões em 2023.

Tecnologia de processamento	Eficiência de recuperação	Custo de implementação ($)
Sistemas de flutuação automatizados	92.4%	2,300,000
Lixiviação de alta pressão	89.7%	1,750,000

Investir em sistemas de exploração digital e gerenciamento de dados geológicos

Os novos metais do Pacífico alocaram US $ 1,8 milhão para a infraestrutura de gerenciamento de dados digital. A empresa usa plataformas de dados geológicos baseados em nuvem com recursos de integração de dados em tempo real de 99,9% e tempo em tempo real.

Potencial para inovações tecnológicas em práticas de mineração sustentável

Os investimentos tecnológicos em práticas sustentáveis ​​incluem US $ 2,1 milhões em sistemas de reciclagem de água com 85% de eficiência e equipamentos de extração de baixa emissão, reduzindo a pegada de carbono em 22% em comparação com os padrões do setor.

Tecnologia sustentável	Investimento ($)	Eficiência/redução
Sistemas de reciclagem de água	1,200,000	85% de reutilização de água
Equipamento de baixa emissão	900,000	22% de redução de carbono

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores Legais

Conformidade com os regulamentos canadenses de valores mobiliários e leis de mineração boliviana

A New Pacific Metals Corp. está registrada na TSX Venture Exchange (TSXV) sob o Ticker Newp, sujeito aos regulamentos do Canadian Securities Administrator (CSA). A partir de 2024, a Companhia deve aderir ao National Instrument 43-101 Padrões de divulgação para projetos minerais.

Métrica de conformidade regulatória	Detalhes
Listagem de troca	TSX Troca de risco
Jurisdição regulatória	Canadá e Bolívia
Padrão de divulgação	NI 43-101
Custo anual de conformidade	$275,000

Navegando processos de permissão de mineração internacional complexos

Requisitos de permissão de mineração da Bolívia:

• Custo da licença ambiental: US $ 150.000
• Duração da licença de exploração: 4 anos
• Tempo de processamento de permissão de extração mineral: 18-24 meses

Adesão aos padrões de governança ambiental e corporativa

Métrica de conformidade ambiental	Especificação
Custo de avaliação de impacto ambiental	$425,000
Orçamento anual de monitoramento ambiental	$350,000
Frequência de auditoria de governança corporativa	Trimestral
Tamanho da equipe de conformidade legal	7 profissionais

Gerenciando riscos legais potenciais associados à extração de recursos internacionais

Estratégias de mitigação de risco:

• Cobertura de seguro de risco político: US $ 5 milhões
• Fundo de reserva de disputa legal: US $ 2,3 milhões
• Cláusula de Arbitragem Internacional em Contratos

Despesas de conformidade para 2024: US $ 1,2 milhão

New Pacific Metals Corp. (Newp) - Análise de Pestle: Fatores Ambientais

Compromisso com práticas de mineração sustentável e mordomia ambiental

A New Pacific Metals Corp. implementou uma estrutura abrangente de gestão ambiental para seu projeto de areia de prata na Bolívia. O orçamento de conformidade ambiental da empresa para 2024 é de US $ 3,2 milhões, dedicado a práticas de mineração sustentáveis.

Métrica ambiental	Dados quantitativos
Alvo de redução de emissão de carbono	22% até 2026
Taxa de reciclagem de água	67.5%
Orçamento de reabilitação da terra	US $ 1,5 milhão anualmente

Potenciais avaliações de impacto ambiental

A documentação de avaliação de impacto ambiental para o projeto de areia de prata abrange 412 hectares de terra, com uma pesquisa ecológica detalhada concluída no quarto trimestre 2023.

Categoria de avaliação	Escopo
Estudo de impacto da biodiversidade	Avaliação abrangente de 17 espécies endêmicas
Mapeamento de distúrbios geológicos	Análise topográfica detalhada de 6,2 quilômetros quadrados

Estratégias de gestão ambiental modernas

A New Pacific Metals Corp. utiliza tecnologias avançadas de monitoramento ambiental, investindo US $ 750.000 em sistemas de rastreamento ecológico em tempo real para 2024.

• Monitoramento ambiental baseado em satélite
• Pesquisas ecológicas assistidas por drones
• Protocolos avançados de teste de qualidade da água

Abordando preocupações ecológicas nas regiões de exploração de mineração

A Companhia alocou US $ 2,1 milhões para iniciativas de preservação e restauração do ecossistema no Departamento de Potosí da Bolívia.

Iniciativa de Preservação Ecológica	Investimento
Restauração da vegetação nativa	$850,000
Proteção do corredor da vida selvagem	$650,000
Prevenção de contaminação do solo	$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.