Latest news with #Steinmann
Yahoo
07-08-2025
- Business
- Yahoo
AI could cut disaster infrastructure losses by 15%, new research finds
This story was originally published on Smart Cities Dive. To receive daily news and insights, subscribe to our free daily Smart Cities Dive newsletter. Dive Brief: AI applications such as predictive maintenance and digital twins could prevent 15% of projected natural disaster losses to power grids, water systems and transportation infrastructure, amounting to $70 billion in savings worldwide by 2050, according to a recently released Deloitte Center for Sustainable Progress report. Governments and other stakeholders need to overcome technological limitations, financial constraints, regulatory uncertainty, data availability and security concerns before AI-enabled resilience can be widely adopted for infrastructure systems, according to the report. 'Investing in AI can help deliver less frequent or shorter power outages, faster system recovery after storms, or fewer damaged or non-usable roads and bridges,' Jennifer Steinmann, Deloitte Global Sustainability Business leader, said in an email. Dive Insight: Natural disasters have caused nearly $200 billion in average annual losses to infrastructure around the world over the past 15 years, according to Deloitte. The report projects that could increase to approximately $460 billion by 2050. Climate change is expected to increase the frequency and intensity of these events, leading to higher losses, according to the report. 'Investing in AI has the greatest near-term potential to help reduce damages from storms, which include tropical cyclones, tornados, thunderstorms, hailstorms, and blizzards,' Steinmann said. 'These natural disasters drive the largest share of infrastructure losses, due to their high frequency, wide geographic reach, and increasing intensity.' The AI for Infrastructure Resilience report uses empirical case studies, probabilistic risk modeling and economic forecasting to show how AI can help leaders fortify infrastructure so they can plan, respond and recover more quickly from natural disasters. 'AI technologies can offer preventative, detective and responsive solutions to help address natural disasters — but some interventions are more impactful than others,' Steinmann said. Investing in AI while infrastructure is in planning stages accounts for roughly two-thirds of AI's potential to prevent natural disaster costs, she said. Tools like AI-powered digital twins, predictive maintenance systems and scenario analysis can help urban planners design more resilient infrastructure. 'At the same time, leaders should invest in building the necessary digital and data infrastructure, fostering cross-sector collaboration, and helping ensure access to high-quality data so that they can maximize the effectiveness of AI tools in the three phases of the infrastructure lifecycle (planning, response and recovery),' Steinmann said. Cities can overcome resource constraints by working with private sector stakeholders and research institutions and focusing on more cost-effective solutions that provide demonstrated measurable benefits, such as AI-powered early warning systems, she said. 'Starting with pilot projects, focusing on one hazard type — like storms — and working directly with private companies or research centers, can help demonstrate value and build momentum for broader adoption,' Steinmann said. Development banks, insurance companies and financial institutions are increasingly incentivizing AI-driven risk reduction strategies through flexible financing models and innovation funds, she added. Recommended Reading The weather is changing. Here's how utilities can adapt. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Business Wire
06-08-2025
- Business
- Business Wire
Pan American Silver Reports Unaudited Second Quarter 2025 Results
BUSINESS WIRE)-- Pan American Silver Corp. (NYSE: PAAS) (TSX: PAAS) ("Pan American" or the "Company") reports unaudited results for the quarter ended June 30, 2025 ("Q2 2025"). "Record free cash flow of $233.0 million in Q2 resulted in a record high cash balance of $1.1 billion at the end of the quarter," said Michael Steinmann, President and Chief Executive Officer. "We will invest $500.0 million of that cash as part of the consideration for our acquisition of MAG Silver Corp., with the high-margin Juanicipio mine in Mexico immediately contributing to free cash flow upon the transaction closing. Juanicipio is expected to increase our silver production by roughly 35% on annualized basis and meaningfully reduce all-in sustaining costs, while offering excellent exploration potential for future growth. This top-tier asset further positions Pan American as the leading investment name in the silver space." "We are also pleased to announce a 20% dividend increase from $0.10 to $0.12 per common share with respect to Q2 2025. In conjunction with our share buyback program, we have returned approximately $103.5 million to our shareholders during the first half of 2025," added Mr. Steinmann. "Furthermore, we are on track to achieve our production and cost guidance for 2025." The following highlights for Q2 2025 include certain measures that are not generally accepted accounting principles ("non-GAAP") financial measures. Please refer to the section titled 'Alternative Performance (Non-GAAP) Measures' at the end of this news release for further information on these measures. Consolidated Q2 2025 Results: Silver production of 5.1 million ounces. Gold production of 178.7 thousand ounces. Revenue of $811.9 million. Record net earnings of $189.6 million, or $0.52 basic earnings per share, largely driven by record mine operating earnings of $273.3 million. Adjusted earnings of $155.4 million, or $0.43 adjusted earnings per share. Record cash flow from operations after non-cash working capital changes of $293.4 million, net of $68.3 million in cash taxes paid ($287.9 million before changes in non-cash working capital). Record free cash flow of $233.0 million. Sustaining capital of $60.4 million and project capital of $13.3 million. Silver Segment All-in Sustaining Costs ("AISC") (1) of $19.69 per silver ounce, excluding net realizable value ("NRV") inventory adjustments. Gold Segment AISC (2) of $1,611 per gold ounce, excluding NRV inventory adjustments. Cash and short-term investments increased by $186.2 million to a record $1,109.2 million. As at June 30, 2025, the Company had working capital of $1,310.5 million and $750.0 million available under its undrawn credit facility ("Credit Facility"). Total available liquidity was $1,859.2 million. Total debt of $820.7 million is primarily related to two senior notes, as well as certain lease liabilities and construction loans payable. The Company maintains its 2025 Operating Outlook, as previously provided in its Management's Discussion & Analysis ("MD&A") dated February 19, 2025. See the "2025 Operating Outlook" section of this news release for further detail. A cash dividend of $0.12 per common share with respect to Q2 2025 was declared on August 6, 2025, payable on or about August 29, 2025, to holders of record of Pan American's common shares as of the close of markets on August 18, 2025. During Q2 2025, the Company paid cash dividends to its shareholders totaling $36.2 million. The dividends are eligible dividends for Canadian income tax purposes. The declaration, timing, amount and payment of any future dividends remain at the discretion of the Company's Board of Directors. The Company repurchased for cancellation, 459,058 common shares in Q2 2025 at an average price of $24.22 per share for a total consideration of approximately $11.1 million. (1) Silver Segment AISC is calculated net of credits for realized revenues from all metals other than silver and is calculated per ounce of silver sold. (2) Gold Segment AISC is calculated net of credits for realized revenues from all metals other than gold and is calculated per ounce of gold sold. Expand ESCOBAL MINE UPDATE At Escobal, the Xinka Parliament ("XP"), as the representative of the Xinka Indigenous People, issued a statement and held a press conference in May 2025 with respect to the ILO 169 Consultation Process. In July 2025, the MEM delivered a response to the XP, describing the government proposals for overseeing the mining activities and the Company's proposals to address concerns raised during consultation meetings, as well as clarifying the potential impacts from the Escobal mine's activities. These documents can be reviewed on the MEM website at: The MEM has indicated that they will continue to hold working meetings and maintain dialogue with the XP in order to comply with the Constitutional Court ruling for the ILO 169 Consultation. There is no detailed timeline of activities nor a date for completion of the consultation process. MAG SILVER CORP. TRANSACTION On May 11, 2025, the Company and MAG Silver Corp. ("MAG") entered into a definitive agreement (the "Arrangement Agreement") whereby the Company expects to acquire all of the issued and outstanding common shares of MAG pursuant to a plan of arrangement under the Business Corporations Act (British Columbia) (the "Transaction"). Under the terms of the Arrangement Agreement, MAG shareholders will be able to elect to receive the consideration as either (i) $20.54 in cash per MAG share or (ii) 0.755 common shares of Pan American per MAG share, or a combination of cash and shares, subject to proration such that the aggregate consideration paid to all MAG shareholders consists of $500.0 million in cash and the remaining consideration paid in Pan American common shares. On July 10, 2025, MAG's shareholders approved the Transaction at its special shareholders meeting. The Transaction is expected to close in the second half of 2025, subject to the satisfaction of customary closing conditions, including clearance under Mexican anti-trust laws. MAG is a tier-one primary silver mining company through its 44% interest in the large-scale, high-grade Juanicipio mine, operated by Fresnillo plc, who holds the remaining 56% interest in Juanicipio. Juanicipio is a low-cost silver mine that will meaningfully increase Pan American's exposure to high margin silver ounces. Furthermore, we see future growth opportunities through the significant exploration potential at Juanicipio as well as MAG's Deer Trail and Larder properties. This strategic acquisition further solidifies Pan American as a leading Americas-focused silver producer. (1) Cost of Sales includes production costs, depreciation and amortization and royalties. (2) Per share amounts are based on basic weighted average common shares. (3) Non-GAAP measure; please refer to the "Alternative Performance (non-GAAP) Measures" section of this news release for further information on these measures. The AISC are excluding NRV inventory adjustments. (4) Project capital relates to expenditures at the La Colorada Skarn Project, and the Huaron, Timmins, La Colorada and Jacobina mines. (5) Metal prices stated are inclusive of final settlement adjustments on concentrate sales. Expand Q2 2025 OPERATING PERFORMANCE Silver Production (thousand ounces) Gold Production (thousand ounces) AISC ($ per ounce) (1) Silver Segment La Colorada (Mexico) 1,507 1.3 24.18 Cerro Moro (Argentina) 488 16.1 (0.47) Huaron (Peru) 844 -- 22.73 San Vicente (Bolivia) (2) 755 — 23.39 Total Silver Segment (3) 3,594 17.3 19.69 Gold Segment Jacobina (Brazil) 1 47.6 1,296 El Peñon (Chile) 968 27.9 1,284 Timmins (Canada) 3 24.5 2,420 Shahuindo (Peru) 60 33.7 1,551 Minera Florida (Chile) 176 17.7 2,403 Dolores (Mexico) 291 10.1 811 Total Gold Segment (3) 1,500 161.4 1,611 Total Consolidated (3) 5,094 178.7 Expand (1) Non-GAAP measure; please refer to the "Alternative Performance (non-GAAP) Measures" section of this news release for further information on these measures. The AISC are excluding NRV inventory adjustments. (2) San Vicente data represents Pan American's 95.0% interest in the mine's production. (3) Totals may not add due to rounding. Expand 2025 OPERATING OUTLOOK The Company reaffirms its 2025 Operating Outlook for annual production, AISC, and capital expenditures, as summarized in the table below. Management now expects gold production to be more heavily weighted to the fourth quarter of 2025 than originally indicated in its 2025 Quarterly Operating Outlook, as some production from the third quarter is expected to be deferred. Please see Pan American's MD&A dated February 19, 2025, for further detail on the Company's 2025 Operating Outlook. Please also refer to the Cautionary Note Regarding Forward-Looking Statements and Information at the end of this news release. 2025 Annual Guidance Silver Production (million ounces) 20.00 - 21.00 Gold Production (thousand ounces) 735 - 800 Silver Segment AISC (1) ($ per ounce) 16.25 - 18.25 Gold Segment AISC (1) ($ per ounce) 1,525 - 1,625 Sustaining Capital Expenditures ($ millions) 270.0 - 285.0 Project Capital Expenditures ($ millions) 90.0 - 100.0 Expand (1) AISC is a non-GAAP measure. Please refer to the 'Alternative Performance (Non-GAAP) Measures' section of this news release for further information on these measures. The AISC forecast assumes average metal prices of $30.00/oz for silver, $2,650/oz for gold, $3,000/tonne ($1.36/lb) for zinc, $2,000/tonne ($0.91/lb) for lead, and $9,500/tonne ($4.31/lb) for copper; and average annual exchange rates relative to 1 USD of 20.00 for the Mexican peso ("MXN"), 3.75 for the Peruvian sol ("PEN"), 1,177.00 for the Argentine peso ("ARS"), 7.00 for the Bolivian boliviano ("BOB"), 1.38 for the Canadian dollar ("CAD"), 950.00 for the Chilean peso ("CLP") and 5.75 for the Brazilian real ("BRL"). Expand AISC, adjusted earnings, basic adjusted earnings per share, sustaining and project capital, free cash flow, working capital, and total debt are non-GAAP financial measures. Please refer to the "Alternative Performance (non-GAAP) Measures" section of this news release for further information on these measures. This news release should be read in conjunction with Pan American's Unaudited Condensed Interim Consolidated Financial Statements and our MD&A for the three and six months ended June 30, 2025. This material is available on Pan American's website at on SEDAR+ at and on EDGAR at About Pan American Pan American is a leading producer of silver and gold in the Americas, operating mines in Canada, Mexico, Peru, Brazil, Bolivia, Chile and Argentina. We also own the Escobal mine in Guatemala that is currently not operating, and we hold interests in exploration and development projects. We have been operating in the Americas for over three decades, earning an industry-leading reputation for sustainability performance, operational excellence and prudent financial management. We are headquartered in Vancouver, B.C. and our shares trade on the New York Stock Exchange and the Toronto Stock Exchange under the symbol "PAAS". Learn more at Alternative Performance (Non-GAAP) Measures In this news release, we refer to measures that are non-GAAP financial measures. These measures are widely used in the mining industry as a benchmark for performance, but do not have a standardized meaning as prescribed by IFRS as an indicator of performance, and may differ from methods used by other companies with similar descriptions. These non-GAAP financial measures include: Adjusted earnings and basic adjusted earnings per share. Pan American believes that these measures better reflect normalized earnings as they eliminate items that in management's judgment are subject to volatility as a result of factors, which are unrelated to operations in the period, and/or relate to items that will settle in future periods. All-in Sustaining Costs ("AISC") per silver or gold ounce sold, net of by-product credits. Pan American believes that AISC, calculated net of by-products, is a comprehensive measure of the full cost of operating our consolidated business, given it includes the cost of replacing silver and gold ounces through exploration, the cost of ongoing capital investments at current operations ("sustaining capital"), as well as other items that affect the Company's consolidated cash flow. AISC excludes capital investments that are expected to increase production levels or mine life beyond those contemplated in the base case life of mine plan ("project capital"). Total debt is calculated as the total current and non-current portions of: debt, including senior notes and amounts drawn on the Credit Facility, and lease obligations. Total debt does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the financial debt leverage of Pan American. Working capital is calculated as current assets less current liabilities. Working capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate whether Pan American is able to meet its current obligations using its current assets. Total available liquidity is calculated as cash and cash equivalents plus short-term investments, plus undrawn amounts under the Credit Facility. Total available liquidity does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the liquid financial resources available to the Company. Project capital relates to expenditures at the La Colorada mine, the La Colorada Skarn, and the Huaron, Timmins and Jacobina mines. Project capital does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate capital investments that are directed at increasing production levels or mine life beyond those contemplated in the base case life of mine plan. Free cash flow is calculated as net cash generated from operating activities less sustaining capital expenditures. Free cash flow does not have any standardized meaning prescribed by GAAP and is therefore unlikely to be comparable to similar measures presented by other companies. Pan American and certain investors use this information to evaluate the profitability of Pan American and identify capital that may be available for investment or return to shareholders. Readers should refer to the "Alternative Performance (non-GAAP) Measures" section of Pan American's Q2 2025 MD&A for a more detailed discussion of these and other non-GAAP measures and their calculation. Cautionary Note Regarding Forward-Looking Statements and Information Certain of the statements and information in this news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws. All statements, other than statements of historical fact, are forward-looking statements or information. Forward-looking statements or information in this news release relate to, among other things: future financial or operational performance, including our estimated production of silver, gold and other metals forecasted for 2025, our estimated AISC, and our sustaining and project capital expenditures in 2025; any anticipated benefits resulting from project capital expenditures; the anticipated dividend payment date of August 29, 2025; the anticipated closing of the Transaction with MAG and any anticipated benefits therefrom, including a meaningful increase in Pan American's exposure to high margin silver ounces, and future growth opportunities; the development of the La Colorada Skarn, or the consultation process for Escobal, and any anticipated benefits to shareholder value or financial or operational performance that may be derived therefrom; expectations regarding the ILO 169 consultation process with respect to Escobal; and Pan American's plans and expectations for its properties and operations. These forward-looking statements and information reflect Pan American's current views with respect to future events and are necessarily based upon a number of assumptions that, while considered reasonable by Pan American, are inherently subject to significant operational, business, economic and regulatory uncertainties and contingencies. These assumptions include: the impact of inflation and disruptions to the global, regional and local supply chains; tonnage of ore to be mined and processed; future anticipated prices for gold, silver and other metals and assumed foreign exchange rates; the timing and impact of planned capital expenditure projects, including anticipated sustaining, project, and exploration expenditures; the ongoing impact and timing of the court-mandated ILO 169 consultation process in Guatemala; ore grades and recoveries; capital, decommissioning and reclamation estimates; our mineral reserve and mineral resource estimates and the assumptions upon which they are based; prices for energy inputs, labour, materials, supplies and services (including transportation); no labour-related disruptions at any of our operations; no unplanned delays or interruptions in scheduled production; all necessary permits, licenses and regulatory approvals for our operations are received in a timely manner; our ability to secure and maintain title and ownership to mineral properties and the surface rights necessary for our operations; whether Pan American is able to maintain a strong financial condition and have sufficient capital, or have access to capital through our corporate Credit Facility or otherwise, to sustain our business and operations; and our ability to comply with environmental, health and safety laws. The foregoing list of assumptions is not exhaustive. Pan American cautions the reader that forward-looking statements and information involve known and unknown risks, uncertainties and other factors that may cause actual results and developments to differ materially from those expressed or implied by such forward-looking statements or information contained in this news release and Pan American has made assumptions and estimates based on or related to many of these factors. Such factors include, without limitation: the duration and effect of local and world-wide inflationary pressures and the potential for economic recessions; fluctuations in silver, gold and base metal prices; fluctuations in prices for energy inputs, labour, materials, supplies and services (including transportation); fluctuations in currency markets (such as the PEN, MXN, ARS, BOB, GTQ, CAD, CLP and BRL versus the USD); operational risks and hazards inherent with the business of mining (including environmental accidents and hazards, industrial accidents, equipment breakdown, unusual or unexpected geological or structural formations, cave-ins, flooding and severe weather); risks relating to the credit worthiness or financial condition of suppliers, refiners and other parties with whom Pan American does business; inadequate insurance, or inability to obtain insurance, to cover these risks and hazards; employee relations; relationships with, and claims by, local communities and indigenous populations; our ability to obtain all necessary permits, licenses and regulatory approvals in a timely manner; changes in laws, regulations and government practices in the jurisdictions where we operate, including environmental, export and import laws and regulations; changes in national and local government, legislation, taxation, controls or regulations and political, legal or economic developments in Canada, the United States, Mexico, Peru, Argentina, Bolivia, Guatemala, Chile, Brazil or other countries where Pan American may carry on business, including legal restrictions relating to mining, risks relating to expropriation and risks relating to the constitutional court-mandated ILO 169 consultation process in Guatemala; unanticipated or excessive tax assessments or reassessments in our operating jurisdictions; diminishing quantities or grades of mineral reserves as properties are mined; increased competition in the mining industry for equipment and qualified personnel; and those factors identified under the caption "Risks Related to Pan American's Business" in Pan American's most recent form 40-F and Annual Information Form filed with the United States Securities and Exchange Commission and Canadian provincial securities regulatory authorities, respectively. Although the Company has attempted to identify important factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated, estimated, described or intended. Investors are cautioned against attributing undue certainty or reliance on forward-looking statements or information. Forward-looking statements and information are designed to help readers understand management's current views of our near- and longer-term prospects and may not be appropriate for other purposes. The Company does not intend, nor does it assume any obligation, to update or revise forward-looking statements or information to reflect changes in assumptions or in circumstances or any other events affecting such statements or information, other than as required by applicable law.
Time of India
22-05-2025
- Health
- Time of India
Madurai vets restore bull's fractured jaw after accident
Madurai: A five-year-old bull trained for jallikattu underwent a complex jaw reconstruction surgery after it sustained injuries in a road accident. The procedure was successfully performed by a veterinary team from the Madurai polyclinic on Wednesday. According to doctors, the bull from Tirupattur in Sivaganga district was struck by a two-wheeler, leaving it with a serious injury to its face. Shiva Kumar, the bull owner, said, "The bull could not even close its mouth; the whole jaw portion was swollen due to the injury. As the doctors could not perform surgery without reducing the swelling, primary treatment and medication were given by the veterinarians from the polyclinic. During the last five days, the bull could not open its mouth, so we had to feed it using a funnel," Shivakumar said. C Meril Raj, assistant veterinary surgeon, said that upon examination, veterinarians identified fractures on both sides of the jaw. Due to the sensitive location of the injury, using metal plates was deemed unviable, added Raj. "The treatment was especially delicate due to the bull's temperament, which is a Puliyankulam breed known for its aggressiveness and its size," Dr Raj explained. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Premium Farm plots Near Ramanagara Hosachiguru Learn More Undo The 300kg animal required a combination of sedation and general anaesthesia to remain calm throughout the procedure. Apart from the fractures, the bull also suffered cuts to its tongue, gums, and teeth, which were stitched up as part of the surgery. Instead of internal fixation, the team opted for an external skeletal support system. Using Steinmann pins, clamps, and rods, they secured the jaw in place, inserting three pins on each side to limit movement and facilitate healing. The animal is expected to recover over the next two months, during which its diet has been restricted to soft food items like fruits and porridge to avoid stress on the jaw. The surgeon urged motorists and owners of animals to be more alert, especially in areas where animals are commonly found near roads. "What might seem like a minor incident can cause significant harm to an animal's life," he added.
