Apex Silver Mines
Encyclopedia
Apex Silver Mines from Denver, Colorado
was a US-American transnational mining corporation with a tax haven address in the Cayman Islands
.
Since its start in 1993, Apex Silver Mines Ltd. had become a worldwide important exploration and development company and producer of silver
, zinc
and lead
.
On January 12, 2009, Apex Silver and its wholly owned subsidiary, ASMC, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code with the Bankruptcy Court. The Plan was approved by the Bankruptcy Court on March 4, 2009. In connection with Apex' emergence from bankruptcy as a newly formed Delaware corporation named Golden Minerals Company, Apex sold their 65% interest in the San Cristóbal mine to Sumitomo but continue to operate the San Cristóbal mine. Golden Minerals also continue to own and explore their broad portfolio of exploration properties. Golden Minerals emerged from Apex Chapter 11 on March 24, 2009.
Under the Plan, all of the assets of Apex Silver, other than a small cash reserve for the payment of liquidation expenses, were transferred to Golden Minerals Company, a Delaware corporation that is Apex Silver’s successor, who emerged from Chapter 11 on March 24, 2009. Apex Silver was being liquidated in accordance with Cayman Islands law. Golden Minerals is virtually the same company as Apex, but without being the owner of San Cristóbal and without the debt. Golden Minerals resides in Golden
, Colorado
. Golden Minerals owns and controls a large number of exploration properties located primarily in the high potential mining districts in Latin America, including the feasibility stage El Quevar Project in northern Argentina.
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
was a US-American transnational mining corporation with a tax haven address in the Cayman Islands
Cayman Islands
The Cayman Islands is a British Overseas Territory and overseas territory of the European Union located in the western Caribbean Sea. The territory comprises the three islands of Grand Cayman, Cayman Brac, and Little Cayman, located south of Cuba and northwest of Jamaica...
.
Since its start in 1993, Apex Silver Mines Ltd. had become a worldwide important exploration and development company and producer of silver
Silver
Silver is a metallic chemical element with the chemical symbol Ag and atomic number 47. A soft, white, lustrous transition metal, it has the highest electrical conductivity of any element and the highest thermal conductivity of any metal...
, zinc
Zinc
Zinc , or spelter , is a metallic chemical element; it has the symbol Zn and atomic number 30. It is the first element in group 12 of the periodic table. Zinc is, in some respects, chemically similar to magnesium, because its ion is of similar size and its only common oxidation state is +2...
and lead
Lead
Lead is a main-group element in the carbon group with the symbol Pb and atomic number 82. Lead is a soft, malleable poor metal. It is also counted as one of the heavy metals. Metallic lead has a bluish-white color after being freshly cut, but it soon tarnishes to a dull grayish color when exposed...
.
On January 12, 2009, Apex Silver and its wholly owned subsidiary, ASMC, filed voluntary petitions for relief under Chapter 11 of the Bankruptcy Code with the Bankruptcy Court. The Plan was approved by the Bankruptcy Court on March 4, 2009. In connection with Apex' emergence from bankruptcy as a newly formed Delaware corporation named Golden Minerals Company, Apex sold their 65% interest in the San Cristóbal mine to Sumitomo but continue to operate the San Cristóbal mine. Golden Minerals also continue to own and explore their broad portfolio of exploration properties. Golden Minerals emerged from Apex Chapter 11 on March 24, 2009.
Under the Plan, all of the assets of Apex Silver, other than a small cash reserve for the payment of liquidation expenses, were transferred to Golden Minerals Company, a Delaware corporation that is Apex Silver’s successor, who emerged from Chapter 11 on March 24, 2009. Apex Silver was being liquidated in accordance with Cayman Islands law. Golden Minerals is virtually the same company as Apex, but without being the owner of San Cristóbal and without the debt. Golden Minerals resides in Golden
Golden
Golden means made of, or relating to gold.Golden can refer to:-Philosophy:*Golden mean , the felicitous middle between the extremes of excess and deficiency-Geography:Canada*Golden, British Columbia...
, Colorado
Colorado
Colorado is a U.S. state that encompasses much of the Rocky Mountains as well as the northeastern portion of the Colorado Plateau and the western edge of the Great Plains...
. Golden Minerals owns and controls a large number of exploration properties located primarily in the high potential mining districts in Latin America, including the feasibility stage El Quevar Project in northern Argentina.
Apex Mines
Formerly, Apex owned twelve properties:- BoliviaBoliviaBolivia officially known as Plurinational State of Bolivia , is a landlocked country in central South America. It is the poorest country in South America...
- San CristóbalSan Cristóbal - Lipez (Bolivia)The San Cristobal mine in Lipez, Potosí Department, Bolivia is an open-pit silver, lead and zinc mine near the town of San Cristóbal, Potosí. The mine, operated by Sumitomo Corporation, produces approximately 1,300 metric tons of zinc-silver ore and 300 tons of lead-silver ore per day, , by...
(silver, zinc, lead) - Cobrizos (silver, copperCopperCopper is a chemical element with the symbol Cu and atomic number 29. It is a ductile metal with very high thermal and electrical conductivity. Pure copper is soft and malleable; an exposed surface has a reddish-orange tarnish...
) - Rincón del Tigre (platinumPlatinumPlatinum is a chemical element with the chemical symbol Pt and an atomic number of 78. Its name is derived from the Spanish term platina del Pinto, which is literally translated into "little silver of the Pinto River." It is a dense, malleable, ductile, precious, gray-white transition metal...
, palladiumPalladiumPalladium is a chemical element with the chemical symbol Pd and an atomic number of 46. It is a rare and lustrous silvery-white metal discovered in 1803 by William Hyde Wollaston. He named it after the asteroid Pallas, which was itself named after the epithet of the Greek goddess Athena, acquired...
)
- San Cristóbal
- KyrgyzstanKyrgyzstanKyrgyzstan , officially the Kyrgyz Republic is one of the world's six independent Turkic states . Located in Central Asia, landlocked and mountainous, Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the southwest and China to the east...
- Jamgyr (gold)
- MexicoMexicoThe United Mexican States , commonly known as Mexico , is a federal constitutional republic in North America. It is bordered on the north by the United States; on the south and west by the Pacific Ocean; on the southeast by Guatemala, Belize, and the Caribbean Sea; and on the east by the Gulf of...
- San Luis del Cordero (silver, zinc, copper)
- San Juan del Cordero (silver, zinc, lead)
- Platosa (silver, zinc, lead)
- El Aguila (goldGoldGold is a chemical element with the symbol Au and an atomic number of 79. Gold is a dense, soft, shiny, malleable and ductile metal. Pure gold has a bright yellow color and luster traditionally considered attractive, which it maintains without oxidizing in air or water. Chemically, gold is a...
, silver) - ZacatecasZacatecasZacatecas officially Estado Libre y Soberano de Zacatecas is one of the 31 states which, with the Federal District, comprise the 32 Federal Entities of Mexico. It is divided in 58 municipalities and its capital city is Zacatecas....
(silver, zinc, lead)
- PeruPeruPeru , officially the Republic of Peru , is a country in western South America. It is bordered on the north by Ecuador and Colombia, on the east by Brazil, on the southeast by Bolivia, on the south by Chile, and on the west by the Pacific Ocean....
- Aguila (silver, zinc, lead)
- Aventura III (gold, silver)
- Jehuamarca (silver, gold)