-----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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 tuESXiHuVLgB9sOQF2B7Lw==

<SEC-DOCUMENT>0001193805-03-001172.txt : 20031212
<SEC-HEADER>0001193805-03-001172.hdr.sgml : 20031212
<ACCEPTANCE-DATETIME>20031212163134
ACCESSION NUMBER:		0001193805-03-001172
CONFORMED SUBMISSION TYPE:	4
PUBLIC DOCUMENT COUNT:		1
CONFORMED PERIOD OF REPORT:	20031210
FILED AS OF DATE:		20031212

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:			KAPLAN THOMAS SCOTT
		CENTRAL INDEX KEY:			0001124803

	FILING VALUES:
		FORM TYPE:		4
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	001-13627
		FILM NUMBER:		031052205

	BUSINESS ADDRESS:	
		STREET 1:		154 WEST 18TH STREEET APT 8C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10011
		BUSINESS PHONE:		2129408800

	MAIL ADDRESS:	
		STREET 1:		154 WEST 18TH STREET APT 8C
		CITY:			NEW YORK
		STATE:			NY
		ZIP:			10011
</SEC-HEADER>
<DOCUMENT>
<TYPE>4
<SEQUENCE>1
<FILENAME>e300805_ex.xml
<TEXT>
<XML>
<?xml version="1.0"?>
<!-- - EDGAR Ease Plus 1.0                                   07/25/03  TT    -->
<ownershipDocument>
    <schemaVersion>X0201</schemaVersion>

    <documentType>4</documentType>
   <periodOfReport>2003-12-10</periodOfReport>
   <notSubjectToSection16>0</notSubjectToSection16>
    <issuer>
        <issuerCik>0001011509</issuerCik>
        <issuerName>APEX SILVER MINES LTD</issuerName>
        <issuerTradingSymbol>SIL</issuerTradingSymbol>
   </issuer>
   <reportingOwner>
        <reportingOwnerId>
            <rptOwnerCik>0001124803</rptOwnerCik>
            <rptOwnerName>KAPLAN THOMAS SCOTT</rptOwnerName>
        </reportingOwnerId>
        <reportingOwnerAddress>
            <rptOwnerStreet1>CH. DES MOULINS 53</rptOwnerStreet1>
            <rptOwnerStreet2></rptOwnerStreet2>
            <rptOwnerCity>1936 VERBIER</rptOwnerCity>
            <rptOwnerState>V8</rptOwnerState>
            <rptOwnerZipCode></rptOwnerZipCode>
            <rptOwnerStateDescription></rptOwnerStateDescription>
        </reportingOwnerAddress>
            <reportingOwnerRelationship>
         <isDirector>1</isDirector>
         <isOfficer>0</isOfficer>
         <isTenPercentOwner>0</isTenPercentOwner>
         <isOther>0</isOther>
      </reportingOwnerRelationship>
   </reportingOwner>
 <nonDerivativeTable>
   <nonDerivativeTransaction>
      <securityTitle>
         <value>Ordinary Shares</value>
      </securityTitle>
      <transactionDate>
         <value>2003-12-10</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>8165</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>39449</value>
            <footnoteId id="F1"/>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </nonDerivativeTransaction>
   <nonDerivativeHolding>
      <securityTitle>
         <value>Ordinary Shares</value>
      </securityTitle>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>1734121</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
            <value>I</value>
         </directOrIndirectOwnership>
         <natureOfOwnership>
            <value>See footnote</value>
            <footnoteId id="F2"/>
         </natureOfOwnership>
      </ownershipNature>
   </nonDerivativeHolding>
 </nonDerivativeTable>
 <derivativeTable>
   <derivativeTransaction>
      <securityTitle>
         <value>Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>16.95</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-10</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>100000</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F3"/>
      </exerciseDate>
      <expirationDate>
         <value>2013-12-09</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Ordinary Shares</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>100000</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>100000</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
   <derivativeTransaction>
      <securityTitle>
         <value>Option</value>
      </securityTitle>
      <conversionOrExercisePrice>
         <value>16.95</value>
      </conversionOrExercisePrice>
      <transactionDate>
         <value>2003-12-10</value>
      </transactionDate>
      <transactionCoding>
         <transactionFormType>4</transactionFormType>
         <transactionCode>A</transactionCode>
         <equitySwapInvolved>0</equitySwapInvolved>
      </transactionCoding>
      <transactionAmounts>
         <transactionShares>
           <value>138476</value>
         </transactionShares>
         <transactionPricePerShare>
           <value>0</value>
         </transactionPricePerShare>
         <transactionAcquiredDisposedCode>
           <value>A</value>
         </transactionAcquiredDisposedCode>
      </transactionAmounts>
      <exerciseDate>
            <footnoteId id="F4"/>
      </exerciseDate>
      <expirationDate>
         <value>2009-12-31</value>
      </expirationDate>
      <underlyingSecurity>
         <underlyingSecurityTitle>
           <value>Ordinary Shares</value>
         </underlyingSecurityTitle>
         <underlyingSecurityShares>
           <value>138476</value>
         </underlyingSecurityShares>
      </underlyingSecurity>
      <postTransactionAmounts>
         <sharesOwnedFollowingTransaction>
           <value>138476</value>
         </sharesOwnedFollowingTransaction>
      </postTransactionAmounts>
      <ownershipNature>
         <directOrIndirectOwnership>
           <value>D</value>
         </directOrIndirectOwnership>
      </ownershipNature>
   </derivativeTransaction>
 </derivativeTable>
   <footnotes>
      <footnote id="F1"> Shares are restricted shares granted under the Employees' Share Option Plan.</footnote>

      <footnote id="F2"> The Shares are held by Consolidated Commodities, Ltd. Pursuant to a voting trust agreement, the Reporting Person has voting and dispositive control with respect to the Shares.</footnote>

      <footnote id="F3"> Options vest ratably over four years, with the first tranche vesting one year from the date of grant.</footnote>

      <footnote id="F4"> Options vest at a rate of 5,789 on January 15, 2004 and 5,769 on January 31 and on the 15th and last day of each month from February through December 2004.</footnote>
   </footnotes>
   <ownerSignature>
      <signatureName>Thomas Scott Kaplan</signatureName>
      <signatureDate>2003-12-12</signatureDate>
   </ownerSignature>
</ownershipDocument>

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