Sierra Metals, a Canadian mining company with operations in Peru and Mexico, has announced a significant increase in production during the second quarter. The company achieved a record copper-equivalent output from its Mexican mine.
Impressive Second-Quarter Production Results
In the second quarter, Sierra Metals recorded copper-equivalent production of 21.7 million pounds, showcasing a substantial 21% increase compared to the previous quarter and a remarkable 22% growth compared to the same period last year. Despite a slight decline in copper and gold production from the Yauricocha Mine, overall production of all metals extracted by the company witnessed an upward trend.
Notable Production Highlights
Sierra Metals achieved notable milestones in various metal productions during this quarter. The highlights include:
- Silver Production: Overall silver production increased by 19% to reach 740,000 ounces.
- Copper Production: Copper output soared by 26%, reaching 10.5 million pounds.
- Zinc Production: Sierra Metals witnessed a 16% increase in zinc production, totaling 12.2 million pounds.
- Lead Production: Lead production experienced significant growth, surging by 39% to reach 4.3 million pounds.
- Gold Production: The company reported a 14% rise in gold output, amounting to 4,442 ounces.
Steady Improvement at Bolivar Mine
Sierra Metals' consolidated throughput from its three operating mines reached an impressive 702,052 metric tons during the second quarter. This achievement represents a substantial 22% increase compared to the first quarter and a noteworthy 10% increase compared to the same quarter last year. The positive results were driven by continuous improvements at the Bolivar Mine, which has experienced increased throughput for four consecutive quarters.
Sierra Metals continues to deliver strong performance and remains focused on maximizing production and growth opportunities across its operations.