Sierra Metals Provides COVID-19 Update for Its Operations in Peru and Mexico
May 25 2020 - 5:50AM
Business Wire
Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN:
SMTS) ("Sierra Metals" or "the Company") announces that the
Peruvian Government has extended its state of emergency and a
nationwide lockdown to fight the COVID-19 pandemic until June 30,
2020. President Martin Vizcarra, said the latest extension, would
come with the reopening of certain economic activities. Large
open-pit mines and a select number of underground mines in the
country have already received permission to restart operations in
phase one. Phase two would see the second group of mining companies
recommence mining activities. Sierra Metals continues to seek
consent from the Government to restart mining activities at the
Yauricocha Mine, given its remote location and implementation of
strict health protocols exceeding Government guidelines.
The Mexican Government, on May 14, 2020, issued a communication
stating that the effective date for Mining to be deemed an
essential service was June 1, 2020. The Company is currently
recalling employees from the Bolivar Mine to begin a COVID-19
screening process, including a quarantine period, allowing the
Company to be ready to commence mining activities on June 1, 2020.
The Cusi Mine, as previously discussed in the May 13, 2020 press
release, remains in care and maintenance.
The Company continues to focus on the health, safety, and
wellbeing of its workforce. A smaller workforce continues to be
retained at Yauricocha to oversee the critical aspects of the
operations, as Bolivar prepares to ramp-up mining activities. All
employees reporting for duty complete a testing and screening
process, which includes a quarantine period before they are allowed
to join the active workforce at both the Yauricocha and Bolivar
Mines. Daily monitoring also continues for all employees working at
the mines. The Company is doing everything it can to protect its
employees and take care of their families while protecting our
active workforces to prevent any labour disruptions at the
mines.
About Sierra Metals
Sierra Metals is a Canadian based growing polymetallic mining
company with production from its Yauricocha Mine in Peru, and it's
Bolivar and Cusi Mines in Mexico. The Company is focused on
increasing production volume and growing mineral resources. Sierra
Metals has recently had several new discoveries and still has
additional brownfield exploration opportunities at all three mines
in Peru and Mexico that are within or close proximity to the
existing mines. Additionally, the Company has large land packages
at all three mines with several prospective regional targets
providing longer-term exploration upside and mineral resource
growth potential.
The common shares of the Company are listed and posted for
trading on the Bolsa de Valores de Lima and on the Toronto Stock
Exchange under the symbol "SMT" and on the NYSE American Exchange
under the symbol "SMTS".
For further information regarding Sierra Metals, please visit
www.sierrametals.com.
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Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of Canadian and
U.S. securities laws (collectively, "forward-looking
information"). Forward-looking information includes, but is not
limited to, statements with respect to the date of the 2020
Shareholders' Meeting and the anticipated filing of the
Compensation Disclosure. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"assumes", "intends", "strategy", "goals", "objectives",
"potential" or variations thereof, or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, the risks described under the heading "Risk
Factors" in the Company's annual information form dated March 30,
2020 for its fiscal year ended December 31, 2019 and other risks
identified in the Company's filings with Canadian securities
regulators and the United States Securities and Exchange
Commission, which filings are available at www.sedar.com and
www.sec.gov, respectively.
The risk factors referred to above are not an exhaustive list of
the factors that may affect any of the Company's forward-looking
information. Forward-looking information includes statements about
the future and is inherently uncertain, and the Company's actual
achievements or other future events or conditions may differ
materially from those reflected in the forward-looking information
due to a variety of risks, uncertainties and other factors. The
Company's statements containing forward-looking information are
based on the beliefs, expectations and opinions of management on
the date the statements are made, and the Company does not assume
any obligation to update such forward-looking information if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by applicable law. For the
reasons set forth above, one should not place undue reliance on
forward-looking information.
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version on businesswire.com: https://www.businesswire.com/news/home/20200525005019/en/
Mike McAllister, CPIR VP, Investor Relations +1 (416)
366-7777 info@sierrametals.com
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