SMM5, March 8 -: Silvercorp Metals announced Thursday that it has achieved production guidelines for all metals in all businesses in fiscal year 2020.
In line with government policy, the company was able to speed up production in March after the shutdown of its operations in China was extended because of the new crown virus.
This year, the company produced about 6.3 million ounces more than its silver production guide line by 3 per cent. Lead production reached 67.4 million pounds, also 3 per cent higher than the target production. Zinc production was 25.6 million pounds, 17 per cent higher than the target for fiscal year 2020.
Silvercorp Metals production guidelines for fiscal year 2021 are 620-6.5 million ounces of silver, 661-68.5 million pounds of lead and 2450-26.7 million pounds of zinc.
Recently, Silvercorp announced that it would acquire Canadian mining company Guyana Gold Corporation for C $105 million, with the potential to add two silver mines in China and possibly operate a gold business in Guyana.
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