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(Kitco News) – Sierra Metals (TSX: SMT) said today that its consolidated 2022 copper equivalent production of 64.2 million pounds decreased 29% compared to 2021 due to lower production at Yauricocha resulting from the suspension of mining operations and lower grades across all metals, except for gold.
According to a company press release, consolidated quarterly throughput during Q4 2022 was 494,980 tonnes, a decrease of 12% when compared to Q3 2022, mainly due to the 43% decline in throughput at Yauricocha compared to Q3 2022.
As a result, Q4 2022 consolidated copper equivalent production of 14.1 million pounds also declined by 15% when compared to Q3 2022, it added.
“While a 19% increase in throughput during Q4 2022 at the Bolivar mine, combined with higher grades in all metals, provided a 69% increase in copper equivalent production over the prior quarter, it was not enough to offset the decline in production at Yauricocha,” the company said.
Importantly, Sierra Metals noted that its primary goal in 2023 is to ramp up production at Yauricocha, stabilize production at Bolivar and optimize Cusi’s production.
Sierra Metals is a diversified Canadian mining company with “green metal” exposure including copper production and base metal production with precious metals byproduct credits, focused on the production and development of its Yauricocha mine in Peru, and Bolivar and Cusi mines in Mexico.
Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.
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