Golden Minerals (formerly known as Apex Silver Mines), was founded by

Thomas Kaplan Thomas Scott Kaplan (born September 14, 1962) is an American billionaire businessman, philanthropist and art collector. Kaplan is the world's largest private collector of Rembrandt's works. Kaplan is the chairman and chief investment officer of ...

, from

Denver Denver () is a consolidated city and county, the capital, and most populous city of the U.S. state of Colorado. Its population was 715,522 at the 2020 census, a 19.22% increase since 2010. It is the 19th-most populous city in the Unit ...

Colorado Colorado (, other variants) is a state in the Mountain states, Mountain West subregion of the Western United States. It encompasses most of the Southern Rocky Mountains, as well as the northeastern portion of the Colorado Plateau and the wes ...

. It is a US-American transnational mining corporation with a tax haven address in the Cayman Islands. Following its reorganization under Chapter 11 bankruptcy in 2009, it re-emerged as Golden Minerals Corporation. It is a publicly traded company on AMEX under symbol AUMN.

History

Apex Silver Mines

Since its start in 1993, Apex Silver Mines Ltd. had become an exploration and development company and producer of

silver Silver is a chemical element with the symbol Ag (from the Latin ', derived from the Proto-Indo-European ''h₂erǵ'': "shiny" or "white") and atomic number 47. A soft, white, lustrous transition metal, it exhibits the highest electrical ...

zinc Zinc is a chemical element with the symbol Zn and atomic number 30. Zinc is a slightly brittle metal at room temperature and has a shiny-greyish appearance when oxidation is removed. It is the first element in group 12 (IIB) of the periodi ...

and

lead Lead is a chemical element with the symbol Pb (from the Latin ) and atomic number 82. It is a heavy metal that is denser than most common materials. Lead is soft and malleable, and also has a relatively low melting point. When freshly cu ...

. Apex's largest asset was the San Cristóbal open-pit silver, lead and zinc mine located in

Potosí Department Potosí (; Aymara: ''Putusi''; qu, P'utuqsi) is a department in southwestern Bolivia. It comprises 118,218 km2 with 823,517 inhabitants (2012 census). The capital is the city of Potosí. It is mostly a barren, mountainous region with on ...

, Bolivia. In September 2006, Sumitomo Corporation of Japan acquired a 35% share of the facility. On January 12, 2009, Apex Silver and its wholly owned subsidiary, ASMC, filed voluntary petitions for relief under

Chapter 11 Chapter 11 of the United States Bankruptcy Code (Title 11 of the United States Code) permits reorganization under the bankruptcy laws of the United States. Such reorganization, known as Chapter 11 bankruptcy, is available to every business, wheth ...

of the Bankruptcy Code with the Bankruptcy Court. The Plan was approved by the Bankruptcy Court on March 4, 2009.

Reemergence as Golden Minerals

Golden Minerals emerged from Apex

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 The Delaware General Corporation Law (Title 8, Chapter 1 of the Delaware Code) is the statute of the Delaware Code that governs corporate law in the U.S. state of Delaware. Adopted in 1899, the statute has since seen Delaware become the most im ...

that is Apex Silver's successor. Apex Silver was being liquidated in accordance with Cayman Islands law. Golden Minerals resides in

Golden Golden means made of, or relating to gold. Golden may also refer to: Places United Kingdom *Golden, in the parish of Probus, Cornwall * Golden Cap, Dorset *Golden Square, Soho, London *Golden Valley, a valley on the River Frome in Gloucestershi ...

. 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. In connection with Apex' emergence from bankruptcy as a newly formed Delaware corporation named Golden Minerals Company, Apex sold their remaining 65% interest in the San Cristóbal mine to Sumitomo. Golden Minerals continued to operate the San Cristóbal Mine on behalf of Sumitomo until June 30, 2010, for which it received $11.4 million in revenues, including reimbursement of $5.4 million in administrative costs. This was Golden Minerals primary source of revenue during this period.

Apex Mines

Formerly, Apex owned twelve properties: * Bolivia ** San Cristóbal (silver, zinc, lead) **Cobrizos (silver,

copper Copper is a chemical element with the symbol Cu (from la, cuprum) and atomic number 29. It is a soft, malleable, and ductile metal with very high thermal and electrical conductivity. A freshly exposed surface of pure copper has a pinkis ...

) **Rincón del Tigre (

platinum Platinum is a chemical element with the symbol Pt and atomic number 78. It is a dense, malleable, ductile, highly unreactive, precious, silverish-white transition metal. Its name originates from Spanish , a diminutive of "silver". Pla ...

palladium Palladium is a chemical element with the symbol Pd and atomic number 46. It is a rare and lustrous silvery-white metal discovered in 1803 by the English chemist William Hyde Wollaston. He named it after the asteroid Pallas, which was itself na ...

) *

Kyrgyzstan Kyrgyzstan,, pronounced or the Kyrgyz Republic, is a landlocked country in Central Asia. Kyrgyzstan is bordered by Kazakhstan to the north, Uzbekistan to the west, Tajikistan to the south, and the People's Republic of China to the ea ...

**Jamgyr (gold) *

Mexico Mexico (Spanish: México), officially the United Mexican States, is a country in the southern portion of North America. It is bordered to the north by the United States; to the south and west by the Pacific Ocean; to the southeast by Guatema ...

**San Luis del Cordero (silver, zinc, copper) **San Juan del Cordero (silver, zinc, lead) **Platosa (silver, zinc, lead) **El Aguila (

gold Gold is a chemical element with the symbol Au (from la, aurum) and atomic number 79. This makes it one of the higher atomic number elements that occur naturally. It is a bright, slightly orange-yellow, dense, soft, malleable, and ductile me ...

, silver) **

Zacatecas , image_map = Zacatecas in Mexico (location map scheme).svg , map_caption = State of Zacatecas within Mexico , coordinates = , coor_pinpoint = , coordinates_footnotes = , subdivision_type ...

(silver, zinc, lead) *

Peru , image_flag = Flag of Peru.svg , image_coat = Escudo nacional del Perú.svg , other_symbol = Great Seal of the State , other_symbol_type = National seal , national_motto = "Firm and Happy f ...

**Aguila (silver, zinc, lead) **Aventura III (gold, silver) **Jehuamarca (silver, gold)

References

External links

Golden Minerals websiteGolden Minerals stock info
Mining companies of the United States Companies that filed for Chapter 11 bankruptcy in 2009 Companies based in Denver {{US-company-stub