Sierra receives permit to increase capacity at Yauricocha by 20%
(Kitco News) - On Wednesday, Sierra Metals (TSX: SMT) announced the receipt of an Informe Técnico Minero ("ITM") Permit from the Peruvian Ministry of Energy and Mines. The ITM Permit allows for the construction and operation at a capacity of 3,600 tonnes per day ("TPD"), at the Yauricocha Mine in Peru.
CEO Luis Marchese commented, "I am delighted with the receipt of the ITM permit. The company may now increase throughput at Yauricocha to 3,600 TPD which represents a 20% increase in throughput. Today's news will further support the company in achieving its annual production guidance."
Additionally, the company said that it will continue focusing on the completion of the Prefeasibility Study at Yauricocha, which examines increasing throughput to 5,500 TPD starting in 2024, as well as on the Prefeasibility Studies for the company's Mexican operations.
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.