Endeavour Silver Starts Terronera Production, Acquires Kolpa for $145M
U.S. Geological Survey added silver to the Critical Minerals List in November 2025 and China banned silver exports in January 2026, sending silver prices from under $30 to over $121 per ounce. Endeavour Silver began commercial production at the new Terronera mine in October 2025 and expanded operations via a $145 million Kolpa acquisition in Peru.
1. Silver Market Developments
In November 2025, the U.S. Geological Survey designated silver as a critical mineral, and China imposed a full export ban in January 2026, driving spot prices from below $30 to over $121 per ounce. These moves have exacerbated a structural supply deficit, now poised for a sixth consecutive year, bolstering demand for new production.
2. Endeavour Silver’s Production and Acquisition
Endeavour Silver achieved commercial production at its Terronera mine in Mexico in October 2025, marking a key operational milestone. The company also completed a $145 million acquisition of Compania Minera Kolpa in Peru, broadening its geographic footprint and potential output profile.