Sierra Metals mines prepare to restart mining activities on June 1st

SMM: prior to this, Peru extended the state of emergency and national ban until June 30 in order to fight the covid-19 pandemic. President Martin Wizkara said the latest delay would go hand in hand with the resumption of some economic activities, and the country's large open-pit mines and some underground mines have been granted permission to restart operations in the first phase. The second phase will see the resumption of mining activities by the second batch of mining companies.

As Sierra Metals's Yauricocha mine is located in remote areas and has implemented strict health agreements that exceed government guidelines, Sierra Metals continues to seek the consent of the Peruvian government to restart the mining of the Yauricocha mine.

The company is currently recalling employees at the Bolivar mine in Chihuahua to begin a covid-19 screening process, including an isolation period, to prepare the company to resume mining activities on June 1.

The output of zinc in the Yauricocha mine in 2019 is 36800 tons.

Focus on the development prospect and price trend of lead and zinc industry

In 2019, global trade disputes escalated, the global economy was under pressure, and central banks began a wave of interest rate cuts. At the same time, the meeting of the political Bureau of the CPC Central Committee stressed that at present and for some time to come, the basic trend of China's economic stability and long-term improvement will remain unchanged, and 2020 will also be the year when China will build a moderately prosperous society in an all-round way and the 13th five-year Plan ends. In this context, the new crown virus is rampant all over the world, and it is worth looking forward to how to achieve steady economic growth.

In the zinc market, the production of overseas mines increased step by step in 2019, but the production of domestic mines was repeatedly hindered. In the first quarter of 2020, zinc prices fell below the mine cost line, and mine profits plummeted. How will the profits of smelters and mines be distributed in 2020? can overseas mines be expected to be put into production under the disturbance of the epidemic? In addition, the output of domestic zinc refining smelters broke through the bottleneck and set a new record in 2019, but under the disturbance at the supply end of zinc mines in 2020, can the capacity utilization rate of smelters maintain a high load? Whether the infrastructure investment under the tone of "stabilizing the economy" in 2020 can exceed the expected performance, whether the galvanizing industry can exceed the seasonal performance is still worth looking forward to, and the contradiction between supply and demand of zinc may be reversed in 2020, so paying attention to and distributing structural opportunities is another choice. Can zinc prices fall and rise in 2020?

In response to the above topics, SMM will invite industry celebrities, industry professionals, enterprises from the upper and lower reaches of the industrial chain to hold the "2020 (15th) lead and Zinc Summit" in Changsha to jointly discuss the current situation and problems of the industry, as well as the future development prospects, and analyze the fundamentals and the future trend of zinc prices.

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