Santacruz Silver's Third Quarter 2024 Results: A Bright Spot in the Mining Industry

Santacruz Silver Mining Ltd. (TSXV: SCZ) (OTCQB: SCZMF) (FSE: 1SZ) recently reported its financial and operating results for the three and nine months ended September 30, 2024, marking a strong quarter for the company. With a focus on silver and base metals, Santacruz Silver has demonstrated resilience and growth in a challenging mining environment.

The company's third quarter results highlighted numerous achievements, including a 21% increase in revenue to $78 million, a 242% increase in adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) to $16 million, and a staggering 505% increase in cash and cash equivalents to $18 million. These impressive figures reflect Santacruz Silver's commitment to cost optimization and operational efficiency.

Arturo Préstamo, Executive Chairman and CEO of Santacruz Silver, attributed the company's success to the successful restructuring of the Share Purchase Agreement (SPA) with Glencore, as well as strong operational performance and solid revenue growth. The restructuring has significantly enhanced Santacruz Silver's financial position, enabling the company to improve its working capital and manage its debt more effectively.

The company's mining operations in Bolivia and Mexico have contributed to its remarkable performance. In Bolivia, Santacruz Silver has filed NI 43-101 compliant mineral resource and reserve estimates for its three producing mines, demonstrating the company's commitment to transparency and responsible mining practices. In Mexico, the company has made significant investments in underground equipment to support its growth momentum.

The increase in cash and cash equivalents has provided Santacruz Silver with the financial flexibility to explore new opportunities and reduce its debt levels. With a focus on disciplined cost optimization and strategic investments, the company is well-positioned to capitalize on emerging opportunities in the mining industry.


The mining industry faces numerous challenges, including fluctuating commodity prices, geopolitical risks, and environmental concerns. However, Santacruz Silver's impressive third quarter results demonstrate the company's ability to navigate these challenges and deliver strong financial performance. By focusing on operational excellence, cost optimization, and strategic investments, Santacruz Silver has positioned itself as a bright spot in the mining industry.


In conclusion, Santacruz Silver's third quarter 2024 results highlight the company's resilience and growth in the face of industry challenges. With a focus on operational excellence, cost optimization, and strategic investments, Santacruz Silver has delivered impressive financial performance and enhanced its financial flexibility. As the company continues to explore new opportunities and manage its debt, investors should take note of its strong third quarter results and the potential for future growth in the mining industry.