Sierra Metals Achieves Full Production at Yauricocha Mine in Peru
Canadian base and precious metals miner Sierra Metals (TSX: SMT | OTCQX: SMTSF) announced that its Yauricocha polymetallic mine in Peru has reached full production. The underground copper-gold-silver mine is now processing ore at a throughput rate of 3,600 tonnes per day, a 30% increase compared to December 2023 levels.
The milestone follows the receipt of key operating and environmental permits in early 2024, allowing Sierra Metals to expand mining activities below the 1120 depth level. This development not only extends the operational life of the mine but also helps in reducing overall operating costs.
Sierra Metals CEO Ernesto Balarezo highlighted the importance of increasing the mine's capacity, saying, "Since receiving operating and environmental permits to develop and mine below the 1120 level at Yauricocha, the team has done a terrific job developing this new zone. The mine is now operating at full capacity."
Yauricocha, acquired by Sierra Metals in 2011, has been a cornerstone of the company's operations and has a long history of more than 70 years of continuous production. The transition to full production reflects copper's key role in Sierra Metals' portfolio, which also includes the Bolivar mine in Mexico and several exploration projects across Peru and Mexico.
