-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
 Q2YxDEiozS9VokLhQFy2O2BMFvXsOONm/h8wrD+bvfOqAYdITGedRTteHpuyXhiI
 FYH/HV+CaDAkPPw+qFEgMA==

<SEC-DOCUMENT>0001104659-03-018044.txt : 20030813
<SEC-HEADER>0001104659-03-018044.hdr.sgml : 20030813
<ACCEPTANCE-DATETIME>20030813131122
ACCESSION NUMBER:		0001104659-03-018044
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20030812
FILED AS OF DATE:		20030813

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			LETTES MARK A
		CENTRAL INDEX KEY:			0001203743

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13627
		FILM NUMBER:		03840044

	BUSINESS ADDRESS:	
		STREET 1:		APEX SILVER MINES CORP.
		STREET 2:		1700 LINCOLN STREET
		CITY:			DENVER
		STATE:			CO
		ZIP:			80203

ISSUER:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			APEX SILVER MINES LTD
		CENTRAL INDEX KEY:			0001011509
		STANDARD INDUSTRIAL CLASSIFICATION:	GOLD & SILVER ORES [1040]
		IRS NUMBER:				841363747
		FISCAL YEAR END:			1231

	BUSINESS ADDRESS:	
		STREET 1:		CALEDONIAN HOUSE MARY STREET
		STREET 2:		GEORGETOWN BWI
		CITY:			GRAND CAYMAN ISLAND
		BUSINESS PHONE:		3038395060

	MAIL ADDRESS:	
		STREET 1:		CALEDONIAN HOUSE MARY STREET
		STREET 2:		GEORGETOWN BWI
		CITY:			GRAND CAYMAN ISLAND
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>a4.xml
<DESCRIPTION>4
<TEXT>
<XML>
<?xml version="1.0" encoding="utf-8"?>
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
  <periodOfReport>2003-08-12</periodOfReport>
  <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001011509</issuerCik>
        <issuerName>APEX SILVER MINES LTD</issuerName>
        <issuerTradingSymbol>SIL</issuerTradingSymbol>
  </issuer>
  <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001203743</rptOwnerCik>
            <rptOwnerName>LETTES MARK A</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>6194 SOUTH MACON WAY</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>ENGLEWOOD</rptOwnerCity>
            <rptOwnerState>CO</rptOwnerState>
            <rptOwnerZipCode>80111</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
      <isDirector>0</isDirector>
      <isOfficer>1</isOfficer>
      <isTenPercentOwner>0</isTenPercentOwner>
      <isOther>0</isOther>
      <officerTitle>Chief Financial Officer</officerTitle>
    </reportingOwnerRelationship>
  </reportingOwner>
  <nonDerivativeTable>
    <nonDerivativeTransaction>
      <securityTitle>
        <value>Ordinary Shares</value>
      </securityTitle>
      <transactionDate>
        <value>2003-08-12</value>
      </transactionDate>
      <deemedExecutionDate>
        <value>2003-08-12</value>
      </deemedExecutionDate>
      <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>M</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
        <value></value>
      </transactionTimeliness>
      <transactionAmounts>
        <transactionShares>
          <value>9800</value>
        </transactionShares>
        <transactionPricePerShare>
          <value>10.31</value>
        </transactionPricePerShare>
        <transactionAcquiredDisposedCode>
          <value>A</value>
        </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
        <sharesOwnedFollowingTransaction>
          <value>22756</value>
        </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
        <directOrIndirectOwnership>
          <value>D</value>
        </directOrIndirectOwnership>
      </ownershipNature>
    </nonDerivativeTransaction>
    <nonDerivativeTransaction>
      <securityTitle>
        <value>Ordinary Shares</value>
      </securityTitle>
      <transactionDate>
        <value>2003-08-12</value>
      </transactionDate>
      <deemedExecutionDate>
        <value>2003-08-12</value>
      </deemedExecutionDate>
      <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>S</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
        <value></value>
      </transactionTimeliness>
      <transactionAmounts>
        <transactionShares>
          <value>9800</value>
        </transactionShares>
        <transactionPricePerShare>
          <value>17.51</value>
        </transactionPricePerShare>
        <transactionAcquiredDisposedCode>
          <value>D</value>
        </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
        <sharesOwnedFollowingTransaction>
          <value>12956</value>
        </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
        <directOrIndirectOwnership>
          <value>D</value>
        </directOrIndirectOwnership>
      </ownershipNature>
    </nonDerivativeTransaction>
  </nonDerivativeTable>
  <derivativeTable>
    <derivativeTransaction>
      <securityTitle>
        <value>Employee Share Options (right to buy)</value>
      </securityTitle>
      <conversionOrExercisePrice>
        <value>10.31</value>
      </conversionOrExercisePrice>
      <transactionDate>
        <value>2003-08-12</value>
      </transactionDate>
      <deemedExecutionDate>
        <value>2003-08-12</value>
      </deemedExecutionDate>
      <transactionCoding>
        <transactionFormType>4</transactionFormType>
        <transactionCode>M</transactionCode>
        <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionTimeliness>
        <value></value>
      </transactionTimeliness>
      <transactionAmounts>
        <transactionShares>
          <value>9800</value>
        </transactionShares>
        <transactionPricePerShare>
          <value>10.31</value>
        </transactionPricePerShare>
        <transactionAcquiredDisposedCode>
          <value>D</value>
        </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
        <footnoteId id="F1"/>
      </exerciseDate>
      <expirationDate>
        <value>2008-06-08</value>
      </expirationDate>
      <underlyingSecurity>
        <underlyingSecurityTitle>
          <value>Ordinary Shares</value>
        </underlyingSecurityTitle>
        <underlyingSecurityShares>
          <value>9800</value>
        </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
        <sharesOwnedFollowingTransaction>
          <value>94700</value>
        </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
        <directOrIndirectOwnership>
          <value>D</value>
        </directOrIndirectOwnership>
      </ownershipNature>
    </derivativeTransaction>
  </derivativeTable>
  <footnotes>
    <footnote id="F1">Options vested in four equal annual tranches, with the first tranche vesting on June 8, 1999.</footnote>
  </footnotes>
  <ownerSignature>
    <signatureName>Mark A. Lettes</signatureName>
    <signatureDate>2003-08-12</signatureDate>
  </ownerSignature>
</ownershipDocument>

</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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