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Sierra Metals: Q2 silver, copper equivalent production down 9% YOY

For the three months ended June 30, Sierra Metals Inc. produced 3.0 million silver equivalentounces and 19.7 million copper equivalent pounds, representing declines of 9% ona yearly basis.

The company's second-quarter consolidated output fell due toreduced plant throughput, lower head grades and lower recoveries at the mine in Peru andat the Bolivar minein Mexico, the company said in a July 19 release.

This was partially offset by record throughput at the Bolivarmine and a record throughput, head grades and recoveries of most metals at the mine, also in Mexico.

Driven by the ongoing restructuring process at Yauricocha, thecompany reported a 24% quarter-over-quarter increase in silver production, as wellas increases in all metals production except copper.

The company anticipates improved quarter-over-quarter consolidatedresults in the current year, as the company expects increased throughput and gradeat Bolivar in the second half, in addition to further reduced development costsand the benefit of higher grades at Cusi.

Sierra maintainedits guidance to produce between 2.6 million ounces and 3.2 million ounces of silver,between 24.4 million pounds and 30.1 million pounds of copper, between 26.7 millionpounds and 32.9 million pounds of lead, and between 43.2 million pounds and 53.4million pounds of zinc in 2016.