Sunshine Silver Mining & Refining Company (SSMRC) is revitalizing America’s most iconic silver mine. Since acquiring the Sunshine Complex in 2010, SSMRC has invested more than $250 million, expanded its land package nearly fourfold, upgraded infrastructure, and deployed modern exploration technologies to identify new resources -all advancing a plan to return the mine to production in 2028.
Located in Idaho’s prolific Silver Valley – the most productive silver region in the United States – the Sunshine Complex is home to North America’s highest-grade large silver resource and its only fully integrated silver operation, combining the Sunshine Mine and the Sunshine Refinery. With nearly 300M oz. of resources, including 112M oz. Indicated at 31 oz/ton, Sunshine is the jewel of American silver mining.
In addition to its world-class silver endowment, Sunshine is uniquely permitted to refine critical minerals essential to U.S. national security and high-tech industries – antimony, gallium, and germanium. This rare combination positions the Sunshine Complex as both the guardian of America’s silver legacy and cornerstone of its critical mineral independence.
“The Sunshine Mine is the iconic jewel of American silver mining – soon to be the only U.S. operation that integrates mine and refinery into a direct pipeline for certified silver and critical minerals.”
– Dr. Thomas Kaplan, Chairman, The Electrum Group
Sunshine Silver Mining & Refining Company owns 100% of one of the largest and highest-grade undeveloped silver deposits in North America—anchored by substantial infrastructure and a permitted refinery uniquely positioned to produce domestic antimony, gallium, and germanium
Sunshine is the only U.S. asset combining a world-class silver mine with the ability to refine multiple critical minerals central to defense, aerospace, semiconductors, and clean energy.
With key permits and substantial infrastructure already in place, Sunshine is positioned to restart operations and deliver first production in 2028.
Once reactivated, the Sunshine Complex will boost U.S. annual silver output by ~20%. By processing its own mined material as well as feed from other mines, Sunshine could meet 40% of U.S. antimony demand in 2028 (scaling to as much as 80% by 2031), providing a near-term backstop against China’s export ban.
Already one of the world’s largest and highest-grade primary silver development projects, Sunshine retains significant upside across its district-scale land position, which is being explored with modern techniques including the first 3D mine model in the mine’s history.
SSMRC’s vision is to restore U.S. leadership in silver and critical minerals by developing the Sunshine Complex with integrity, innovation, and stewardship. Our values are grounded in:
The Electrum Group, founded by Dr. Thomas Kaplan, established SSMRC in 2010 to acquire the Sunshine Mine. Today, SSMRC is 71% owned by Electrum, providing strategic alignment, stable governance, and a unified vision. Electrum is a private investment group focused on precious metals and critical minerals, with a 30-year track record of founding and advancing world-class resource companies. The remainder of SSMRC is held by management and select long-term investors.
The Electrum Group – Sunshine’s founder and majority owner – has a long history of founding and advancing companies built around world-class discoveries made by its geological team. Notable examples include:
➣ Apex Silver: Discovered and developed one of the world’s largest silver-zinc mines (San Cristobal), demonstrating deep expertise in large-scale resource development.
➣ Los Gatos: Identified and transformed a promising discovery into a state-of-the-art silver-lead-zinc mine in Mexico, showcasing full project lifecycle capability.
➣ Leor Energy: Built the fastest-growing private U.S. oil & gas E&P company, later successfully divested, highlighting strategic growth and execution.
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