Ramping Up Production To Move Stockpiles
Sierra Metals Inc. (TSX:SMT) has recorded a 9% increase in production for its third-quarter 2020.production results.
The results are from Sierra Metals’ three underground mines in Latin America: The Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver Mines in Mexico.
Third Quarter 2020 Consolidated Production Highlights
- Copper production of 12.2 million pounds; a 9% increase from Q3 2019
- Silver production of 1.0 million ounces; a 5% increase from Q3 2019
- Gold production of 3,990 ounces; a 14% increase from Q3 2019
- Zinc production of 24.9 million pounds; an 11% increase from Q3 2019
- Lead production of 9.9 million pounds; a 6% decrease from Q3 2019
- Copper equivalent production of 35.2 million pounds; a 9% increase from Q3 2019
- Record quarterly ore throughput, and copper and gold production at the Bolivar Mine in Mexico
- Record quarterly silver production at the Cusi Mine in Mexico, despite being in care and maintenance for part of the quarter
CEO Luis Marchese said the company achieved record quarterly consolidated equivalent copper production and ore throughput, driven by strong operational performance at its three mines despite the difficulties arising from the COVID-19 pandemic.
“I am very pleased to report that the company continues to strengthen its performance in 2020 with the achievement of production records on a company consolidated basis and at the Bolivar Mine for quarterly equivalent metal production as well as for ore throughput,” Mr Marchese said.
“At Yauricocha, we continue to process throughput at increased levels which has helped us to recover some of the lower production experienced during the Q2 COVID-19 shutdowns.
“At Cusi we recommenced production in late July and operated for 65 days during the third quarter with ore throughput reaching over 1,000 tonnes per day during that period.
“The COVID-19 situation in Mexico and Peru is still very serious and remains an important factor in our daily operations at the mines. We are continuing to adhere to strict health protocols to protect our employees, the communities in which we operate and our operations.
“Testing and quarantining has helped us to identify and keep active cases from the mines but as a result we are operating with a lower head count than optimal. I would like to thank our employees for the hard work in holding safe, helping the mines to run efficiently, and helping to maintain the strong production levels as noted in the third quarter results.”
“As we continue to ramp up operations, we have been able to reinitiate on the backlog of exploration and infrastructure projects at the mines. This will help us to improve mine operations and operating efficiencies while continuing to discover and develop mineral resources.
“We are also proceeding with expansion studies at all mines based on the current large mineral resource levels and probable future discoveries of additional mineral resources at all mines. Precluding any further COVID-19 work interruptions the fourth quarter should continue advancing production throughput to capacity levels and help us to realize a strong finish for the year.”