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(Kitco News) - Sierra Metals (TSX: SMT) today announced Q2 2023 production results from its three underground mines in Latin America: the Yauricocha polymetallic mine in Peru, the Bolivar copper mine in Mexico and the Cusi silver mine in Mexico.
In a press release, the company said that its consolidated copper equivalent production for Q2 2023 was 21.7 million pounds, an increase of 21% and 22% over Q1 2023 and Q2 2022, respectively.
Sierra added that consolidated production for all metals increased during the quarter despite lower copper and gold production from Yauricocha.
“The Yauricocha mine operated below its full capacity of 3,600 tonnes per day, which was in line with our expectations. We continue to believe that the Yauricocha mine can get back to its full production capacity of 3,600 tonnes on receipt of the permits to operate below the 1120 level,” the company said.
Sierra also noted that Q2 2023 silver equivalent ounces production from the non-core Cusi mine was lower by 5% and 15% than Q1 2023 and Q2 2022, respectively, and had “little impact” on consolidated copper equivalent production results in Q2 2023.
“With two strong quarters of production during this year, we have shown that with our focus on safe and efficient operations combined with the various organizational changes, we can achieve the desired results and unlock the potential of our two core mines," it added.
Sierra Metals a diversified Canadian mining company focused on the production and development of its Yauricocha mine in Peru, and Bolivar mine in Mexico.
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