Ownership Submission
FORM 3
 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Expires: January 31, 2005
Estimated average burden hours per response... 0.5

(Print or Type Responses)
1. Name and Address of Reporting Person *
  Owen Terry L
 2. Date of Event Requiring Statement (Month/Day/Year)
02/14/2008		 3. Issuer Name and Ticker or Trading Symbol
APEX SILVER MINES LTD [SIL]
(Last)
(First)
(Middle)
1700 LINCOLN STREET, SUITE 3050		 4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior VP, Project Development
 5. If Amendment, Date Original Filed(Month/Day/Year)
(Street)

DENVER, CO 80203		 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Beneficially Owned
1.Title of Security
(Instr. 4)		 2. Amount of Securities Beneficially Owned
(Instr. 4)		 3. Ownership Form: Direct (D) or Indirect (I)
(Instr. 5)		 4. Nature of Indirect Beneficial Ownership
(Instr. 5)
Ordinary Shares 17,066 (1)
D
 

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly. SEC 1473 (7-02)
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.

Table II - Derivative Securities Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 4)		 2. Date Exercisable and Expiration Date
(Month/Day/Year)		 3. Title and Amount of Securities Underlying Derivative Security
(Instr. 4)		 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 5)		 6. Nature of Indirect Beneficial Ownership
(Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Options (Right to Buy) 06/01/2006 06/01/2015 Ordinary Shares 25,000 (2) $ 13.71 D  
Employee Stock Options (Right to Buy) 12/08/2006 12/08/2015 Ordinary Shares 19,000 (3) $ 18.01 D  
Employee Stock Options (Right to Buy) 12/07/2007 12/07/2016 Ordinary Shares 19,000 (4) $ 16.4 D  

Reporting Owners

Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Owen Terry L
1700 LINCOLN STREET
SUITE 3050
DENVER, CO 80203		       Senior VP, Project Development  

Signatures

Deborah J. Friedman for Terry L. Owen Pursuant to Power of Attorney 02/19/2008
**Signature of Reporting Person Date

Explanation of Responses:

* If the form is filed by more than one reporting person, see Instruction 5(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
(1) 12,675 of the 17,066 ordinary shares are restricted. The 12,675 restricted shares vest as follows: 2,500 shares on June 1, 2008; 975 shares on December 7, 2008; 1,250 shares on December 8, 2008; 5,000 shares on June 1, 2009; 975 shares on December 7, 2009; 1,250 shares on December 8, 2009; and 975 shares on December 7, 2010.
(2) The options vest as follows: 8,334 options on June 1, 2006; 8,333 options on June 1, 2007; and 8,333 options on June 1, 2008.
(3) The options vest in four equal installments on December 8, 2006, December 8, 2007, December 8, 2008 and December 8, 2009.
(4) The options vest in four equal installments on December 7, 2007, December 7, 2008, December 7, 2009 and December 7, 2010.

Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, See Instruction 6 for procedure.

Potential persons who are to respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB number.