Alleen voor leden beschikbaar, wordt daarom gratis lid!

Overig advies 26/04/2023 06:49
Consolidated copper equivalent production increased 28% and 13% when compared to Q4 2022 and Q1 2022, respectively, as a result of operational optimization and overall improvements in operating performance at Sierra’s core assets.
Bolivar’s path toward improved operating performance continues with an 11% and 59% increase in throughput over Q4 2022 and Q1 2022, respectively. Copper equivalent production increased 18% over Q4 2022 and 192% when compared to Q1 2022.
Following the implementation of new technology and safety measures to safeguard against similar occurrences to last year’s mudslide incident, Yauricocha operations have recovered, and production is on track, with a 44% increase in throughput and a 65% increase in copper equivalent production over the previous quarter.
Consolidated Q1 2023 financial results will be released pre-market on Monday, May 15, 2023 with management hosting a Conference Call and Webcast on the same day at 11:00 AM EDT.

TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX: SMT) (“Sierra Metals” or the “Company”) is pleased to announce first quarter 2023 production results from its three underground mines in Latin America: the Yauricocha polymetallic mine in Peru, the copper-producing Bolivar mine and the silver-producing Cusi mine in Mexico. All metals prices are reported in U.S. dollars.

Ernesto Balarezo, Interim CEO of Sierra Metals, commented, “Production during the first quarter of the year indicates that we are beginning to realize the benefits of our plan to optimize all aspects of our operations. On a consolidated basis, we achieved a 28% increase in copper equivalent production over the last quarter and a 13% increase over the first quarter of 2022.

“As anticipated, copper equivalent production at Yauricocha has decreased year-over-year due to mining activity being restricted to permitted areas only. We expect Yauricocha will continue to operate below full capacity of 3,600 tonnes per day until the permit to mine below the 1120 level is obtained. The permit will ultimately lead to higher throughput rates, allowing access to higher-grade ore bodies.

“At Bolivar, we are pleased with the continued operational recovery. The infrastructure upgrades in pumping and ventilation have stabilized production, which should allow for a steady ramp-up in production over the course of the year. Our vision is for these improvements to create a domino effect, whereby stabilized production from areas of the mine with higher grades will support higher throughput and lower unit costs. This should, in turn, generate positive free cash flow, eventually allowing the Company to re-invest in the mine. These investments are key to further development to extract Bolivar’s full value potential over time. Additional strategic initiatives during the quarter included organization restructuring at the mine, bringing various processes together to create a unified approach within the mining unit. The result: improved staffing coordination and operating cost management, optimization of labour and material handling resources, and improved mine development activities. We continue to take the necessary steps to create efficiencies and ensure continued growth at our key operating mines.”

Mr. Balarezo concluded
“As we complete the first quarter of a new chapter at Sierra Metals, I remain optimistic about the Company’s future. We have made both managerial and operational changes that promote a culture of safety and integrity at all levels while we continue to pursue stable, reliable, safe, and efficient operations with full transparency to our stakeholders and shareholders. We remain dedicated to continuing these efforts.”

First Quarter 2023 Consolidated Production Results
see &

Beperkte weergave !
Leden hebben toegang tot meer informatie! Omdat u nog geen lid bent of niet staat ingelogd, ziet u nu een beperktere pagina. Wordt daarom GRATIS Lid of login met uw wachtwoord

Copyrights © 2000 by all rights reserved
Niets mag zonder toestemming van de redactie worden gekopieerd, linken naar deze pagina is wel toegestaan.