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Proc-Type: 2001,MIC-CLEAR
Originator-Name: webmaster@www.sec.gov
Originator-Key-Asymmetric:
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 TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB
MIC-Info: RSA-MD5,RSA,
 Ccca9HQg6eLorOJJEglSK8AUWbrwc6QDaKj3zHI81l0EFNuN8dj02IlKnfeUqUJX
 98mX2qTVssF0Emwsi8T8AA==

<SEC-DOCUMENT>0001140361-07-008575.txt : 20070427
<SEC-HEADER>0001140361-07-008575.hdr.sgml : 20070427
<ACCEPTANCE-DATETIME>20070427175352
ACCESSION NUMBER:		0001140361-07-008575
CONFORMED SUBMISSION TYPE:	3
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:			DRAKE RODMAN L
		CENTRAL INDEX KEY:			0001242538

	FILING VALUES:
		FORM TYPE:		3
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13627
		FILM NUMBER:		07797285

	BUSINESS ADDRESS:	
		STREET 1:		HYPERION CAPITAL MANAGEMENT INC
		STREET 2:		165 BROADWAY
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10006
		BUSINESS PHONE:		2125498400
</SEC-HEADER>
<DOCUMENT>
<TYPE>3
<SEQUENCE>1
<FILENAME>doc1.xml
<DESCRIPTION>FORM 3
<TEXT>
<XML>
<?xml version="1.0"?>
<ownershipDocument>

    <schemaVersion>X0202</schemaVersion>

    <documentType>3</documentType>

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

    <noSecuritiesOwned>1</noSecuritiesOwned>

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

    <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001242538</rptOwnerCik>
            <rptOwnerName>DRAKE RODMAN L</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CIP MANAGEMENT LLC</rptOwnerStreet1>
            <rptOwnerStreet2>850 THIRD AVENUE</rptOwnerStreet2>
            <rptOwnerCity>NEW YORK</rptOwnerCity>
            <rptOwnerState>NY</rptOwnerState>
            <rptOwnerZipCode>10022</rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
        <reportingOwnerRelationship>
            <isDirector>1</isDirector>
            <isOfficer>0</isOfficer>
            <isTenPercentOwner>0</isTenPercentOwner>
            <isOther>0</isOther>
            <officerTitle></officerTitle>
            <otherText></otherText>
        </reportingOwnerRelationship>
    </reportingOwner>

    <remarks></remarks>

    <ownerSignature>
        <signatureName>/s/ Rodman L. Drake</signatureName>
        <signatureDate>2007-04-27</signatureDate>
    </ownerSignature>
</ownershipDocument>
</XML>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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