Mining suspension at Sierra Metals-owned mins in Peru and Mexico has been extended with the extension of lockdown in the two countries. The Peruvian and Mexican governments have extended shuttering of all non-essential activities in their countries to contain the spread of COVID-19.
In Peru, the suspension will be extended till May 10 and in Mexico, till May 30. The Mexican government has also stated that suspension of activities does not apply to areas which have zero recorded cases by May 18. New guidelines will also be set, said the company in its latest press release.
The company’s Bolivar mining operations in Mexico could resume operation on May 18 on account of its remote location. Currently, the company maintains essential activities at both – Yauricocha mine (Peru) and Bolivar mine (Mexico). The Peruvian mine was suspended on March 17 while the Mexican mine suspended operation on March 30.
Bolivar Mine produces 70pc copper and the remaining is gold and silver. Yaurichocha Mine produces 38pc zinc, 18pc lead and 28pc copper and the rest includes gold and silver.
The company released its operational performance for Q1 indicating an increase in production of copper, lead and zinc from the prior-year quarter as reported by Davis previously.