Sierra Metals Provides Update on Its Yauricocha Mine in Peru
September 22 2022 - 5:50AM
Business Wire
Sierra Metals Inc. (TSX: SMT) (BVL or Bolsa de Valores de
Lima: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”)
reports that a group of residents from the nearby town of Alis have
illegally blocked the main access road to the Yauricocha Mine,
operated by the Company’s subsidiary, Sociedad Minera Corona. Mine
production continues to be suspended with activities limited to
critical operations to ensure proper safety and maintenance.
Sierra Metals remains committed to the social development of its
host communities and is working towards a peaceful and expeditious
resolution of the situation. Representatives from the Company have
taken part in constructive dialogue with the members of the group,
including requests organized by the Peruvian government. As a road
blockade is a matter of public concern, the Company has involved
the local authorities for their mediation and assistance in
resolving this matter.
The health, safety and wellbeing of all employees and
contractors remains Sierra Metals’ top priority. The Company is
taking all necessary precautions to safeguard its personnel and the
mine infrastructure.
Due to the uncertainty of timing on the resolution of this
dispute and the potential delay in the progressive restart of
production at the Mine, 2022 production and financial guidance has
been suspended.
About Sierra Metals
Sierra Metals Inc. is a diversified Canadian mining company with
Green Metal exposure including increasing copper production and
base metal production with precious metals byproduct credits,
focused on the production and development of its Yauricocha Mine in
Peru, and 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 key discoveries and
still has many more exciting brownfield exploration opportunities
at all three Mines in Peru and Mexico that are within close
proximity to the existing mines. Additionally, the Company also has
large land packages at all three mines with several prospective
regional targets providing longer-term exploration upside and
mineral resource growth potential.
The Company's Common Shares trade 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 within
the meaning of Canadian and United States securities legislation.
Forward-looking information relates to future events or the
anticipated performance of Sierra and reflect management's
expectations or beliefs regarding such future events and
anticipated performance based on an assumed set of economic
conditions and courses of action. In certain cases, statements that
contain forward-looking information can be identified by the use of
words such as "plans", "expects", "is expected", "budget",
"scheduled", "estimates", "forecasts", "intends", "anticipates",
"believes" or variations of such words and phrases or statements
that certain actions, events or results "may", "could", "would",
"might", or "will be taken", "occur" or "be achieved" or the
negative of these words or comparable terminology. By its very
nature forward-looking information involves known and unknown
risks, uncertainties and other factors that may cause actual
performance of Sierra to be materially different from any
anticipated performance expressed or implied by such
forward-looking information. Such forward-looking information
includes statements relating to the blockade and suspension of
operations at the Yauricocha mine and the expected resolution
thereof. There can be no assurance of when or on what basis the
blockade can be resolved or the operational or financial impact on
the Company. These matters may have a material adverse effect on
the Company, its operations and financial results and
condition.
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 16,
2022 for its fiscal year ended December 31, 2021 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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Investor Relations Sierra Metals Inc. +1 (416) 366-7777
Email: info@sierrametals.com
Luis Marchese CEO Sierra Metals Inc. +1(416) 366-7777
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