Canadian miner Sierra Metals has placed its Cusi silver mine, in Mexico, on care and maintenance and initiated a process to sell the mine.
The Cusi mine is deemed a noncore asset for Sierra, which is transitioning to become a copper-focused mining company.
“The planned divesture of Cusi will allow us to focus on our two key mines, Yauricocha, in Peru, and Bolivar, in Mexico, where we have significant potential to continue growing our copper production,” said CEO Ernesto Balarezo Valde.
Cusi has the capacity to produce 1 200 t/d and its processing plant includes a conventional ball mill and flotation plants fed from a crushing circuit. The flotation circuit has the ability to produce silver, lead and zinc concentrates.
SCP Resource Finance is acting as financial adviser for the Cusi mine sale process.