Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

Base metal miner Sierra Metals reported a 9pc increase in copper production and zinc production rose by 11pc in Q3 compared to the prior-year period. The company is planning to continue advancing production throughput to 100pc capacity levels.


In the September quarter, the company reported production of 12.2mn lbs copper, up 9pc from the previous year. Zinc production was reported 11pc higher at 24.9mn lbs while lead production dipped 6pc to 9.9mn lbs in Q3 from a year ago. 


Daily ore throughput has increased in Q3 by 13pc to 9,125mt and in the nine-month period (Jan-Sep), up 6pc to 7,812/mt. 


In Jan-Sep period, copper production is up 18pc to 33.63mn lbs from the previous year. Zinc production is up 9pc to 60.25mn lbs and lead is marginally down 1pc to 25.34mn lbs in this period. 


The company reported a record quarterly ore throughput copper and gold production at Bolivar Mine in Mexico. Strong operational performance at three of Sierra Metals’ mines resulted in high copper production despite challenges laid out by the COVID-19 pandemic. 


The company stated that situation in Mexico and Peru is a concern due to COVID-19 which is affecting daily operations at the mine. The company is still ramping-up production after reinitiating backlog of exploration and infrastructure project at mines. 


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