-----BEGIN PRIVACY-ENHANCED MESSAGE-----
Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
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MIC-Info: RSA-MD5,RSA,
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<SEC-DOCUMENT>0001140361-07-008573.txt : 20070427
<SEC-HEADER>0001140361-07-008573.hdr.sgml : 20070427
<ACCEPTANCE-DATETIME>20070427175109
ACCESSION NUMBER:		0001140361-07-008573
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20070423
FILED AS OF DATE:		20070427
DATE AS OF CHANGE:		20070427

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

REPORTING-OWNER:	

	OWNER DATA:	
		COMPANY CONFORMED NAME:			Masterton-Hume Ian
		CENTRAL INDEX KEY:			0001397870

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13627
		FILM NUMBER:		07797273

	BUSINESS ADDRESS:	
		BUSINESS PHONE:		011-61-2-8243-2910

	MAIL ADDRESS:	
		STREET 1:		LEVEL 24 AUSTRALIA SQUARE
		STREET 2:		264 GEORGE STREET
		CITY:			SYDNEY
		STATE:			C3
		ZIP:			NSW 2000

	FORMER NAME:	
		FORMER CONFORMED NAME:	Hume Ian
		DATE OF NAME CHANGE:	20070427
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 4
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>4</documentType>

    <periodOfReport>2007-04-23</periodOfReport>

    <notSubjectToSection16>0</notSubjectToSection16>

    <issuer>
        <issuerCik>0001011509</issuerCik>
        <issuerName>APEX SILVER MINES LTD</issuerName>
        <issuerTradingSymbol>SIL</issuerTradingSymbol>
    </issuer>

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001397870</rptOwnerCik>
            <rptOwnerName>Masterton-Hume Ian</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>LEVEL 24 AUSTRALIA SQUARE</rptOwnerStreet1>
            <rptOwnerStreet2>264 GEORGE STREET</rptOwnerStreet2>
            <rptOwnerCity>SYDNEY</rptOwnerCity>
            <rptOwnerState>C3</rptOwnerState>
            <rptOwnerZipCode>NSW 2000</rptOwnerZipCode>
            <rptOwnerStateDescription>AUSTRALIA</rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <derivativeTable>
        <derivativeTransaction>
            <securityTitle>
                <value>Restricted Stock Units</value>
            </securityTitle>
            <conversionOrExercisePrice>
                <footnoteId id="F1"/>
            </conversionOrExercisePrice>
            <transactionDate>
                <value>2007-04-23</value>
            </transactionDate>
            <deemedExecutionDate></deemedExecutionDate>
            <transactionCoding>
                <transactionFormType>4</transactionFormType>
                <transactionCode>A</transactionCode>
                <equitySwapInvolved>0</equitySwapInvolved>
            </transactionCoding>
            <transactionTimeliness>
                <value></value>
            </transactionTimeliness>
            <transactionAmounts>
                <transactionShares>
                    <value>3075.87</value>
                </transactionShares>
                <transactionPricePerShare>
                    <value>0</value>
                </transactionPricePerShare>
                <transactionAcquiredDisposedCode>
                    <value>A</value>
                </transactionAcquiredDisposedCode>
            </transactionAmounts>
            <exerciseDate>
                <footnoteId id="F2"/>
            </exerciseDate>
            <expirationDate>
                <footnoteId id="F2"/>
            </expirationDate>
            <underlyingSecurity>
                <underlyingSecurityTitle>
                    <value>Ordinary Shares</value>
                </underlyingSecurityTitle>
                <underlyingSecurityShares>
                    <value>3075.87</value>
                </underlyingSecurityShares>
            </underlyingSecurity>
            <postTransactionAmounts>
                <sharesOwnedFollowingTransaction>
                    <value>3075.87</value>
                </sharesOwnedFollowingTransaction>
            </postTransactionAmounts>
            <ownershipNature>
                <directOrIndirectOwnership>
                    <value>D</value>
                </directOrIndirectOwnership>
                <natureOfOwnership>
                    <value></value>
                </natureOfOwnership>
            </ownershipNature>
        </derivativeTransaction>
    </derivativeTable>

    <footnotes>
        <footnote id="F1">Each Restricted Stock Unit represents a contingent right to receive one share of Apex Silver Mines Limited ordinary shares.</footnote>
        <footnote id="F2">The Restricted Stock Units vest on the first anniversary of the date the Restricted Stock Units were granted.  Vested shares will be delivered to the reporting person within thirty (30) days following the date on which the reporting person ceases to be a member of the Board of Directors of Apex Silver Mines Limited.</footnote>
    </footnotes>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Ian Masterton-Hume</signatureName>
        <signatureDate>2007-04-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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