Sierra Metals Inc
Sierra Metals Inc
Full text is available to Level 2 subscribers only
Subscribe to Mining Business Media
Full access to Mining Business Media's unique blend of global mining sector news and commentary is available by subscription only.
$A275.00 per year*
(*up to 10 users)
GST included in Australia
Direct debit/cheque/credit card:
Click here
Subscription inquiries, email subscribe@miningbusiness.net or call 61+413 772 044.
Related Content
COVID-19 pandemic inspired shutdowns at Sierra Metals’ Yauricocha mine in Peru and Bolivar mine in Mexico have failed to deter a lift in June 2020 9-months (YTD June 2020) production with copper equiv output up 15% on the previous year period to 54Mlbs.
The overall result was on silver slipping 1% to 1.52Moz, but copper up 23% to 21.5Mlbs, lead 3% better to 15.48M/lbs, zinc up 7% to 35.38Mlbs and gold jumping 42% to 6,419oz.
Sierra Metals has had a relatively good 9-months, despite its 3 Peru/Mexico operations being hit by fallout from the COVID-19 pandemic
A $6.3M turnaround has seen polymetallic miner Sierra Metals plunge to a $US1.86M Mar 2020 qtr (Q1 20) loss from Q4 19’s $4.5M profit, with its adjusted net income down to $1.2M from $12.2M on revenues sliding to $55.5M from $64.6M.
Adjusted EBITDA fell to $16.1M from $19.1M and operating cash flows, before movements in working capital, to $15.7M from $19.9M. The result was on silver-copper-gold output all up on Q4 2019, but lead-zinc sliding.
Sierra Metals’ 3 underground mines in Latin America have weathered most of the COVID-19 impact during the 2nd half of Mar 2020 with Mar 2020 qtr (Q1 20) silver, copper and gold output all up on Q4 2019, but lead and zinc sliding.
3 of Sierra Metals’ products have weathered the initial COVID-19 fallout, but the company has shut down some operations as it prepares for more
Precious/base metals miner Sierra Metals is shutting its Bolivar and Cusi mines in Mexico for 30-days until April 30 in accordance with the govt’s suspension of non-essential activities to contain the COVID-19 virus in the country.
Despite an excellent Dec 2019 production year (FY/CY19) from its 3 underground mines in Latin America, Sierra Metals’ net profit has plunged to $US4.43M from the previous year’s $18.8M profit, with adjusted net income also down to $18.8M from $29M.
A FY19 that saw all its mineral products up, Sierra Metals’ has seen its net profit plummet to $4.4M on lower metal prices and higher costs
Sierra Metals has had an excellent Dec 2019 year (FY/CY19) with production from all commodities well up and further increases in them all expected in FY/CY 20.
The company’s 3 underground mines in Latin America -- the Yauricocha polymetallic mine in Peru, and the Bolivar copper and Cusi silver mines in Mexico – lifted silver equiv ouput 4% on FY/CY18 to 18.7Moz, copper equiv 17% to 111.6Mlbs and zinc equiv 24% to 267.6Mlbs.
Miner Sierra Metals expects to top a FY19 that saw increases in all its commodities production with an even better FY20