Sierra Metals, a Canadian mining company, remains confident in achieving its production target for 2023 based on the metals output from its mines in Peru and Mexico this year.
Sierra Metals has produced 57.85 million copper equivalent pounds in the first nine months of the year, and it expects the output for 2023 to range between 74.3 million and 83.3 million pounds. The production guidance includes an estimated 37.3 million to 42.4 million pounds of copper, 46 million to 50.5 million pounds of zinc, and 13,500 to 15,400 ounces of gold.
Third Quarter Production
In the third quarter, Sierra Metals achieved a production of 18.5 million copper-equivalent pounds, showing an increase from 14.6 million pounds in the same period last year.
At the Yauricocha Mine in Peru, production rose by approximately 6% compared to the previous quarter but declined by around 3% compared to the same period last year. Meanwhile, the Bolivar mine in Mexico recorded over twice the copper-equivalent output compared to the previous year but experienced a 24% decrease compared to the second quarter of this year.