The story
In 1994, Andean Silver Corporation, Andean American Gold and its subsidiary ASC Bolivia LDC were established to develop mining projects in South America. Through an alliance with MINTEC, a leading Bolivian consulting firm in the mining sector, the company obtained an option to purchase concessions from the San Cristóbal and Toldos groups.
Initial drilling activities began in August 1996, when Apex Silver Mines was created to acquire and develop silver, zinc and lead mining projects worldwide.
In February 2000, Minera San Cristóbal S.A. was incorporated, and ASC Bolivia LDC transferred all of its mining concessions in the San Cristóbal district to the new company. The company launched a program to build and refurbish mining camps, with significant investments in machinery and equipment.
Between 2001 and 2004, work that had begun in 2000 was halted due to low mineral prices in global markets and the lack of a solution for the power supply. However, in line with its corporate social responsibility policy, MSC continued to support projects benefiting neighboring communities in collaboration with institutions such as the Andean Development Corporation, now CAF – Development Bank of Latin America and the Caribbean. These initiatives included roads, drinking water systems, sewerage and tourism development, among others.
Between 2004 and 2006, construction began on the project’s infrastructure, processing plant and mine preparation works. Due to their scale, these activities represented a significant contribution to the Bolivian economy and served as a driver for development in one of the country’s poorest regions. More than 40 contractors participated in these projects.
In 2005, the final design of the railway line was completed, and MSC was granted the environmental license for the railway.
In 2006, Sumitomo Corporation acquired a 35% stake in MSC from the majority shareholder, Apex Silver Mines Ltd.
In 2007, engineering work was completed, allowing mining operations to begin gradually. The processing plant started operating while the company tested equipment and systems. The first concentrate exports were also carried out.
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In 2008, the operation reached its design production targets. Some design modifications were required in the production process to improve the efficiency and quality of the concentrates.
In 2009, MSC operated at 100% of its design capacity. In March of that year, MSC became a wholly owned subsidiary of Sumitomo Corporation.
In 2018, Minera San Cristóbal became the first Bolivian mining company accepted as a member of the International Council on Mining and Metals. This membership reflected the company’s commitment to global principles of sustainable mining, business ethics, respect for human rights and environmental performance.
In 2023, San Cristóbal Mining Inc. completed the acquisition of Minera San Cristóbal S.A. and all associated assets from Sumitomo Corporation under the terms of a share purchase agreement. Through this transaction, the company acquired all issued and outstanding shares of Comercial Metales Blancos AB and SC Minerals Bolivia S.R.L., former Sumitomo subsidiaries that held all ownership interests in MSC.
From Wikipedia’s article on San Cristóbal mine (Bolivia), shared under CC BY-SA 4.0.4
