Sierra Metals Inc. (TSX:SMT) announced its production results for Q4 2015, commenting that it was able to increase copper equivalent production at its Bolivar mine. Meanwhile, it upped silver equivalent output at its Cusi mine. Restructuring at the Yauricocha mine resulted in lower production there for the period.
Other Q4 highlights include:
- Total tonnes processed of 456,842; a 7% increase over Q4 2014
- Silver equivalent production of 2.3 million ounces; a 23% decrease from Q4 2014
- Copper equivalent production of 15.6 million pounds; a 23% decrease from Q4 2014
Mark Brennan, president and CEO of Sierra Metals, commented:
While we anticipate improved consolidated results in the current year, we are extremely pleased to see increased copper equivalent production at Bolivar and growth in silver equivalent production at Cusi. We continue to focus on the restructuring and rehabilitation at the Yauricocha Mine with the implementation of best practices and the introduction of modern methodologies. Management is optimistic that these beneficial changes that have resulted in lower production in the near term will serve to increase production in the coming years.
Further success in brownfields exploration such as the recent discovery of the Esperanza Zone at our Yauricocha Mine, combined with our production optimization program shall enable Sierra Metals to continue on a solid path of increased production and resource growth for the foreseeable future.
| Updated December 2015
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