Sierra Metals reported an increase of 31pc in lead production to 9.1mn lbs in March ending quarter (Q1) from the prior-year quarter. Zinc production rose by 32pc to 21.6mn lbs in Q1 from the prior year. Copper production was up by 52pc to 11.75mn lbs in Q1 from the prior year.
|Production (klb)||Q1 2020||Q1 2019||Var|
The company stated that its Yauricocha Mine was impacted post March 15 as state of emergency was declared by the Peruvian government to contain the spread of COVID-19. The mine, however, achieved 22pc higher throughput as compared to Q1 2019. Peru has extended the state of emergency till April 26 and the company is maintaining merely their essential services crew at the mine. As soon as the lockdown ends, the company is ready to restart operations and ramp up production. Yauricocha Mine produces silver, copper, lead, zinc and gold.
The company’s consolidated copper production was up in Mexico’s Bolivar Mine in Q1 by 65pc to 6.40mn lbs. Yauricocha Mine produced 5.38mn lbs in the same quarter, up by 40pc from Q1 2019.
Sierra Metals is a diversified Canadian mining company focused on the production and development of base and precious metals from its polymetallic Yauricocha Mine in Peru, and Bolivar and Cusi Mines in Mexico.