Silvercorp on track to meet annual production targets in China
(Kitco News) - Today, Silvercorp Metals (TSX/NYSE American: SVM) reported production and sales figures for the third quarter of fiscal 2021 ended December 31, 2020.
The company said it has produced approximately 1.7 million ounces of silver, 900 ounces of gold, 17.1 million pounds of lead, and 8.7 million pounds of zinc, representing increases of 7% in gold and 8% in zinc production, and decreases of 6% in silver and 15% in lead production compared to December quarter 2019.
Silvercorp mined 279,445 tonnes of ore, a 6% increase over December quarter 2019, and milled 260,648 tonnes of ore, a decrease of 2% compared to December quarter 2019.
For the first nine months of fiscal 2021, Silvercorp produced approximately 5.1 million ounces of silver, 3,200 ounces of gold, 56.3 million pounds of lead, and 23.3 million pounds of zinc.
The company added that it is on track to produce between 6.2 – 6.5 million ounces of silver, 66.1 – 68.5 million pounds of lead, and 24.5 – 26.7 million pounds of zinc in fiscal 2021, in line with the annual production guidance previously reported in the company’s news release dated February 6, 2020.
Silvercorp is a Canadian mining company producing silver, lead and zinc metals in concentrates from mines in China.