Sierra Metals receives environmental permit to increase capacity at Yauricocha
(Kitco News) - Sierra Metals (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) announced today that it has received an Informe Tecnico Sustentatorio ("ITS") permit from the Peruvian Ministry of Environment through its Agency SENACE.
The company said that the ITS is a key permitting milestone and the second to last step for the company on receiving approval to increasing the permitted throughput of the Chumpe Plant, located at the Yauricocha mine, to 3,600 tonnes per day.
CEO Luis Marchese commented, "I am delighted with the receipt of the ITS permit. The company may now submit the required documentation for an Informe Tecnico Minero ("ITM") permit, which is the final step in the process to permit an increased throughput at Yauricocha to 3,600 TPD. The company expects to receive the ITM permit in the second quarter of 2021. This permit would allow a 20% increase in throughput and assist the company in maintaining its annual production guidance."
Sierra Metals is a diversified Canadian mining company focused on the production and development of precious and base metals from its polymetallic Yauricocha mine in Peru, and Bolivar and Cusi mines in Mexico.