Canada-based, Sierra Metals’ zinc production increased by 54pc and lead by 24pc in Q2 ending June from the last year’s quarter. Copper production dipped by 2pc in the period. The company will be revising its production guidance for the year.
In the production result announcement on July 20, Luis Marchese, President, and CEO of Sierra Metals stated, they were pleased with the relatively solid performance in Q2 despite the challenges they faced due to the pandemic. All mines of the company faced hurdles related to COVID-19, with Peru facing the harshest effects.
The company expects the effects of the pandemic to continue affecting production. It has reviewed the production guidance, which will be announced along with the consolidated financial reports.
The company’s goals include avoiding the closure of mines. It has predicted production in H2 to be better than H1. Throughput at Yauricocha will be expanded to 3,600mt per day as the company has received the permit from the Peruvian Ministry of Energy and Mines.
Copper production in Q2 was reported at 9.53mn lbs (4,325mt), down by 2pc from the same quarter of 2020. Copper production for the quarter was 11pc lower at Yauricocha mine. Lead production jumped by 24pc to 7.96mn lbs in Q2 from the prior year. Zinc production in Q2 has zoomed by 54pc to 21.13mn lbs from a year ago.
In H1, copper production has dipped 19pc to 17.43mn lbs from a year ago. Zinc production leaped 28pc ahead to 45.25mn lbs in H1. Lead production rose by 10pc to 16.96mn lbs in H1.