TORONTO, Oct. 16, 2017 /PRNewswire/ – Sierra Metals Inc. (TSX: SMT) (NYSE AMERICAN: SMTS) (BVL: SMT) (“Sierra Metals” or “the Company”) is pleased to report third quarter 2017 production results featuring the highest quarter of throughput and second highest quarter of metal production to date from the Yauricocha Mine.
Results are from Sierra Metals’ three underground mines in Latin America: the Yauricocha polymetallic Mine in Peru and the Bolivar copper and Cusi silver Mines in Mexico.
Third Quarter 2017 Production Highlights
- Silver equivalent production of 2.7 million ounces; an 8% decrease from Q3 2016
- Copper equivalent production of 23.5 million pounds; an 8% decrease from Q3 2016
- Total tonnes processed of 504,751; a 6% decrease from Q3 2016
- Increase of 3% in silver equivalent production and 13% increase in throughput at Yauricocha during Q3 2017 vs Q3 2016
During the third quarter of 2017, consolidated metal production decreased 8% compared to Q3 2016. The decrease in metal production was due to lower production in Mexico which was partially offset by record throughput in Peru. The temporary decline in production in Mexico was mainly due to the implementation of a new plan to improve operational performance and produce profitable silver ounces at Cusi and improve efficiencies at our Bolivar copper mine. Like the successful program at Yauricocha in Peru, the Company has engaged in an operation turnaround program in Mexico to modernize operations, improve production and lower costs. We expect to see the results from this program become more apparent in the latter part of 2017 and early 2018.