Sierra Metals‘ (TSX: SMT; NYSE-AM: SMTS) CEO Ernesto Balarezo says in a new video the company is on track this year to expand copper production and free cash flow as it develops the Yauricocha mine in Peru.
Officials in February granted a permit allowing the mine to reach full capacity at 3,600 tonnes per day versus 2,400 tonnes, Balarezo said in an interview at the Prospectors and Developers Association of Canada’s convention in Toronto. At the Bolivar copper-silver-gold mine in Mexico, the company is planning to boost production by 50% in the next three years.
“We have turned around the company in 15 months,” Balarezo told The Northern Miner’s Western Editor, Henry Lazenby. “We’re cashflow positive now; we weren’t 15 months ago.”
Watch the full interview below:
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