Pan American Silver, a mining company based in Canada with operations in Latin America, completed the acquisition of Tahoe Resources, a mining company and intermediate precious metals producer with silver and gold mines in Canada, Guatemala and Peru, for $1.1bn. "The combination of Pan American and Tahoe will establish the world's premier silver mining company with an industry-leading portfolio of assets, superior growth opportunities and attractive operating margins. This transaction doubles our silver reserves and further improves our cost profile. We will build on that strong foundation, optimizing these high-quality assets to deliver profitable growth and superior returns," Michael Steinmann, Pan American Silver President and Chief Executive Officer.