Canadian miner Sierra Metals, which produces precious and base metals from mines in Peru and Mexico, has started a process to explore and evaluate potential strategic alternatives.
These alternatives include the potential sale of part, or all, of the company, a sale of some assets, a merger of business combination or other strategic transactions, the Toronto-listed company said in a statement on January 8.
Since the announcement, Sierra’s stock has risen about 15% to C$4.87 a share, giving the company a market capitalisation of C$792-million on January 11.
The process, Sierra said, was supported by its management team and its largest shareholders. The miner owns the Yauricocha mine in Peru, and the Bolivar and Cusi mines in Mexico.