Sierra Metals completes the second-to-last step of approval to increase the permitted throughput of the Chumpe plant at the Yauricocha mine. (Photo: Sierra Metals)
Sierra Metals Inc. has received an Informe Tecnico Sustentatorio (ITS) permit from the Peruvian Ministry of Environment through its agency SENACE. 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 at the Yauricocha mine to 3,600 metric tons per day (mt/d).
“The company expects to receive the ITM permit in the second quarter of 2021,” Sierra Metals CEO Luis Marchese said. “This permit would allow a 20% increase in throughput and assist the company in maintaining its annual production guidance.”
Meanwhile, the company is also focusing on completing the prefeasibility studies at Yauricocha, which examines increasing throughput to 5,500 mt/d starting in 2024, as well as prefeasibility studies examining increases at the Bolivar and Cusi mines in Mexico to 10,000 mt/d and 2,400 mt/d, respectively. All three mines are polymetallic mines that produce some precious metals.
“[This is] an exciting time for [Sierra Metals] as we continue with organic growth plans, including significant brownfield and greenfield exploration programs to support future mineral resource and production growth,” he said. “Management also continues to focus on improving and modernizing our mine operations, increasing operating efficiencies to improve productivity and reduce costs.”
Sierra Metals said it has recently had several new key discoveries and still has many more exciting brownfield exploration opportunities at all three mines.
