Sierra Metals Zn, Cu output fall on strike, grades

Toronto-based Sierra Metals produced less zinc and copper in the first quarter than a year earlier, as a strike at its Yauricocha mine in Peru impacted zinc output and lower head grades at its Bolivar mine in Mexico hurt copper output.

Copper production fell by 4pc to 7.7mn lbs in the first quarter from a year earlier, while zinc output fell by 10pc to 16.4mn lbs, the company said today in a production report. Output of lead rose by 10pc to 7mn lbs.

The company is forecasting zinc output of 72.4mn-81.1mn lbs this year, copper output of 45mn-50.4mn lbs and lead output of 25.5mn-28.6mn lbs for 2019.

Output of zinc at the Yauricocha mine fell by 9pc to 16.4mn lbs, largely impacted by an illegal 12 day strike. But improved head grades boosted copper output by 4pc to 3.9mn lbs while production of lead rose by 9pc to 6.6mn lbs.

Production of copper at the Bolivar mine in Mexico fell by 11pc to 3.9mn lbs from a year earlier on lower head grades. Output of lead at the Cusi mine in Mexico surged by 44pc to 349,000t from a year earlier on a 165pc increase in throughput.