The ITS is a key permitting milestone and the second to last step for the Company on receiving approval to increasing the permitted throughput of the Chumpe Plant
Train emerging from Yauricocha Tunnel loaded with ore (Credit: Business Wire)
Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or the “Company”) has received an Informe Tecnico Sustentatorio (“ITS”) permit from the Peruvian Ministry of Environment through its Agency SENACE. The ITS is a key permitting milestone and the second to last step for the Company on receiving approval to increasing the permitted throughput of the Chumpe Plant, located at the Yauricocha Mine, to 3,600 tonnes per day (‘TPD’).
Luis Marchese, CEO of Sierra Metals, commented: “I am delighted with the receipt of the ITS permit. The Company may now submit the required documentation for an Informe Tecnico Minero (“ITM”) permit, which is the final step in the process to permit an increased throughput at Yauricocha to 3,600 TPD. The Company expects to receive the ITM permit in the second quarter of 2021. This permit would allow a 20% increase in throughput and assist the Company in maintaining its annual production guidance.
Additionally, we continue focusing on the completion of the Prefeasibility Study at Yauricocha, which examines increasing throughput to 5,500 TPD starting in 2024, as well as on the Prefeasibility Studies examining increases at Bolivar to 10,000 TPD and Cusi to 2,400 TPD.”
He Concluded: “2021 continues to be an exciting time for the Company as we continue with organic growth plans including significant brownfield and greenfield exploration programs to support future mineral resource and production growth. Management also continues to focus on improving and modernizing our mine operations, increasing operating efficiencies to improve productivity and reduce costs.”
Source: Company Press Release