Sierra Metals Inc. (TSX: SMT) (NYSE American: SMTS) (BVL:
SMT) (“Sierra Metals” or the “Company”) is pleased to announce the
completion of an internal organizational review, following the
strategic review announced in late 2021.
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Photo 1 Arial Photo of Bolivar Mine
(Photo: Business Wire)
Sierra Metals is strengthening its current operating portfolio
through various value-enhancing opportunities. These include:
- Increased focus on the production of copper and steel-making
products such as zinc and iron-ore;
- Advancement of the Company’s mine expansion plans, with the
aim of increasing the return at both the Yauricocha and Bolivar
Mines;
- Re-activation of brownfield and greenfield exploration
activities, throughout Sierra’s extensive resource base;
- Heightened focus on ESG, Human Capital and Permitting
In order to align the organization to effectively achieve these
goals, as well as to overcome current operational issues, the
following appointments have been made:
James León – Vice President, Operations
Effective February 1st, following his previous appointment as
Country Manager Perú, Mr. León will now manage both Yauricocha and
Bolivar operations. Mr. León will be based in Mexico. He will
oversee the delivery of increasingly improved operational results
and efficiencies, following the difficult challenges Bolivar and
Yauricocha have faced over the past two years.
Mr. León is a Peruvian Mining Engineer with over 25 years of
experience and has been with Sierra Metals since August of 2017 in
various roles including Operations Manager in Mexico until 2019,
and then Country Manager in Peru.
Alonso Lujan – Vice President, Exploration
Effective February 1st, as Vice President, Exploration, Mr.
Lujan will focus on the extensive resource growth and business
opportunities, in both brownfield and greenfield exploration, at
our properties in Perú and México. Both Yauricocha and Bolivar are
in underexplored, highly prospective geological regions, with
another 80,000 Hectares of greenfield properties owned by Sierra
Metals. His role is fully aligned with the strategic objective of
unlocking the significant potential value at these properties.
Mr. Lujan is a Mexican Geological and Mining Engineer with over
30 years international experience in mineral exploration with a
positive track record for increasing companies' resources, output
and company value.
Alberto Calle – Vice President, Human Resources
Effective November 1, 2021, Mr. Calle is taking the role of VP
Human Resources, in charge of the HR function at Sierra Metals.
Provided the changing environment and ongoing challenges on this
area, this role is key to assist with strengthening our teams, and
maintaining a healthy and motivated work environment, in both Peru
and Mexico.
Mr. Calle has spent 20 years of his professional experience in
Human Capital with 13 years dedicated to the large-scale mining
industry. He previously held positions at MMG – Las Bambas as Human
Resource Manager, and Regional Manager of Human Resources for
Newmont
Juan Jose Mostajo – Vice President, Legal Affairs
Effective December 1, 2021, Mr. Mostajo joins our legal team and
will assist in legal matters related to both Peru and Mexico. His
role is key for managing the ongoing legal and permitting issues at
both of our operations and supporting the strategy of the Company
moving forward.
He has over 23 years of experience in the mining sector and has
been legal advisor to various mining companies, both Peruvian and
foreign. His previous positions include a role as part of the legal
management team at Anglo American in Peru as well as Vice President
of Legal Affairs of Minera Chinalco, Peru.
About Sierra Metals
Sierra Metals Inc. is a diversified Canadian mining company with
Green Metal exposure including increasing copper production and
base metal production with precious metals byproduct credits,
focused on the production and development of its Yauricocha Mine in
Peru, and Bolivar and Cusi Mines in Mexico. The Company is focused
on increasing production volume and growing mineral resources.
Sierra Metals has recently had several new key discoveries and
still has many more exciting brownfield exploration opportunities
at all three Mines in Peru and Mexico that are within close
proximity to the existing mines. Additionally, the Company also has
large land packages at all three mines with several prospective
regional targets providing longer-term exploration upside and
mineral resource growth potential.
The Company’s Common Shares trade on the Bolsa de Valores de
Lima and on the Toronto Stock Exchange under the symbol “SMT” and
on the NYSE American Exchange under the symbol “SMTS”.
For further information regarding Sierra Metals, please visit
www.sierrametals.com.
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Forward-Looking
Statements
This press release contains "forward-looking information" and
"forward-looking statements" within the meaning of Canadian and
U.S. securities laws (collectively, "forward-looking
information"). Forward-looking information includes, but is not
limited to, statements with respect to the date of the 2020
Shareholders' Meeting and the anticipated filing of the
Compensation Disclosure. Any statements that express or involve
discussions with respect to predictions, expectations, beliefs,
plans, projections, objectives, assumptions or future events or
performance (often, but not always, using words or phrases such as
"expects", "anticipates", "plans", "projects", "estimates",
"assumes", "intends", "strategy", "goals", "objectives",
"potential" or variations thereof, or stating that certain actions,
events or results "may", "could", "would", "might" or "will" be
taken, occur or be achieved, or the negative of any of these terms
and similar expressions) are not statements of historical fact and
may be forward-looking information.
Forward-looking information is subject to a variety of risks and
uncertainties, which could cause actual events or results to differ
from those reflected in the forward-looking information, including,
without limitation, the risks described under the heading "Risk
Factors" in the Company's annual information form dated March 18,
2020 for its fiscal year ended December 31, 2020 and other risks
identified in the Company's filings with Canadian securities
regulators and the United States Securities and Exchange
Commission, which filings are available at www.sedar.com and
www.sec.gov, respectively.
The risk factors referred to above are not an exhaustive list of
the factors that may affect any of the Company's forward-looking
information. Forward-looking information includes statements about
the future and is inherently uncertain, and the Company's actual
achievements or other future events or conditions may differ
materially from those reflected in the forward-looking information
due to a variety of risks, uncertainties and other factors. The
Company's statements containing forward-looking information are
based on the beliefs, expectations and opinions of management on
the date the statements are made, and the Company does not assume
any obligation to update such forward-looking information if
circumstances or management's beliefs, expectations or opinions
should change, other than as required by applicable law. For the
reasons set forth above, one should not place undue reliance on
forward-looking information.
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version on businesswire.com: https://www.businesswire.com/news/home/20220127005963/en/
Investor relations Sierra Metals Inc. Tel: +1 (416)
366-7777 Email: info@sierrametals.com
Luis Marchese CEO Sierra Metals Inc. Tel: +1 (416)
366-7777
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