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Santacruz Silver reports record production in 2022 as silver equivalent output jumps 366%

Vladimir Basov

Kitco News

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(Kitco News) - Santacruz Silver Mining (TSXV: SCZ) today reported a record full-year 2022 production of 15,010,871 silver equivalent ounces from its Bolivian and Mexican operations, up 366% compared to 3,220,975 silver equivalent ounces produced in 2021.

Santacruz Silver said that on March 18, 2022, the company closed the acquisition of all Bolivian assets from Glencore and the results of the Bolivian operations are included in the consolidated results of the company from that date.

In Q4 2022, the company produced 4,722,004 silver equivalent ounces (+460% vs Q4 2021), consisting of 1,793,973 silver ounces (+463% vs Q4 2021), 3,409 tonnes of lead (+236% vs Q4 2021), 23,673 tonnes of zinc (+587% vs Q4 2021), and 569 tonnes of copper (+17% vs Q4 2021).

Commenting on the results, CEO Carlos Silva said, "Q4 has been an interesting quarter as we have received a significant amount of underground and milling equipment across all our operations leaving us well positioned to achieve our budgeted 2023 mine production with high levels of productivity, efficiency, and safety.

"During Q4 we have re-established the group safety meetings before every shift that were in place pre-covid as well as undertaken different safety initiatives and training activities to assure a safe workplace across all our operations where positive trends continued during Q4.” 

Santacruz Silver currently has six producing projects, the Zimapan, Bolivar, Porco, Tres Amigos, Reserva and Colquechaquita mines and holds two exploration properties in its mineral property portfolio, the La Pechuga property and the Santa Gorgonia prospect, and one development project, the Soracaya project in addition to the San Lucas ore sourcing and trading business.

 Vizsla Silver significantly increases resources at its Panuco silver-gold project
By Vladimir Basov

For Kitco News

Contact vbasov@kitco.com
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