Sierra Metals Reports Over 2.7Mt Consolidated Production in 2024

Sierra Metals announced its production results for 4Q24 and the full year from its Bolivar copper mine in Chihuahua and the Yauricocha polymetallic mine in Peru. At the Bolivar mine, the company exceeded its nameplate capacity of 5,000t/d by 3%, due to operational improvements and infrastructure developments.

For 2024, Sierra Metals achieved a consolidated mineral throughput of over 2.7Mt, an 11% increase from 2023. Copper, silver, gold, and zinc production exceeded guidance, lead production met expectations, while gold and silver were slightly lower. The company plans to build on its operational advancements and exploration activities in 2025 to support higher throughput rates and long-term growth.

At the Bolivar mine, the company processed an average of 5,173t/d in 4Q24, exceeding its nameplate capacity of 5,000t/d by 3%. This increase was attributed to the start-up of a new integration tunnel and the development of additional operating stopes, which grew from three to nine by the end of the year. These initiatives increased ore availability, allowing the plant to operate above capacity.

Sierra Metals noted copper production at Bolivar remained flat compared to 4Q23, while silver production rose by 9%, and gold production declined by 19%, mainly due to mine sequencing. With improvements in grinding and flotation processes, the company expects throughput rates to remain above the 5,000t/d capacity in 2025. Ongoing near-mine exploration and district-scale studies are anticipated to further expand resources and provide additional growth opportunities, the company says.

At the Yauricocha mine in Peru, throughput rates averaged 3,945t/d in 4Q24, surpassing its annual permitted capacity of 3,600t/d by 10%. This was made possible by increased access to mining zones below the 1120 level. Copper, zinc, and silver production showed significant increases compared to 4Q23, while lead production declined slightly. Exploration below the 1120 level is expected to continue in 2025, to expand resources and extend the mine’s life.