Sierra Metals reported that a group of residents from the nearby town of Alis have illegally blocked the main access road to the Yauricocha Mine, operated by the company’s subsidiary, Sociedad Minera Corona. Mine production continues to be suspended with activities limited to critical operations to ensure proper safety and maintenance. Sierra Metals said remains committed to the social development of its host communities and is working towards a peaceful and expeditious resolution of the situation. Representatives from the company have taken part in constructive dialogue with the members of the group, including requests organized by the Peruvian government. As a road blockade is a matter of public concern, the company has involved the local authorities for their mediation and assistance in resolving this matter.

Due to the uncertainty of timing on the resolution of this dispute and the potential delay in the progressive restart of production at Yauricocha, the company has suspended its 2022 production and financial guidance.