Sierra Metals' copper, lead production rises

Toronto-based Sierra Metals produced more copper and lead in the second quarter than a year earlier on improved head grades.

Copper production rose by 13pc to 9.7mn lbs in the second quarter from a year earlier, while lead output rose by 14pc to 8.1mn lbs, the company said today in a production report. Zinc output fell by 18pc to 16.6mn lbs.

The company kept its 2019 guidance the same, with zinc output projected at 72.4mn-81.1mn lbs this year, copper output at 45mn-50.4mn lbs and lead output at 25.5mn-28.6mn lbs.

Output of zinc at the Yauricocha mine in Peru fell by 18pc to 16.6mn lbs, largely impacted by an illegal 12-day strike. But improved head grades boosted copper output at the mine by 17pc to 4.5mn lbs while production of lead rose by 16pc to 7.9mn lbs.

Production of copper at the Bolivar mine in Mexico rose by 10pc to 5.2mn lbs from a year earlier on higher recovery. Output of lead at the Cusi mine in Mexico fell by 46pc to 154,000lbs from a year earlier on lower head grades.