UNITED
STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE
ISSUER
PURSUANT TO RULE 13a-16 OR
15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
October 16,
2023
Commission File No. 0001-34184
SILVERCORP
METALS INC.
(Translation of registrant’s name into English)
Suite 1750 - 1066 West Hastings
Street
Vancouver, BC Canada V6E 3X1
(Address of principal executive office)
[Indicate by check mark whether
the registrant files or will file annual reports under cover of Form 20-F or Form 40-F]
Form 20-F [ ] Form
40-F [ X ]
SIGNATURE
Pursuant to the requirements
of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto
duly authorized.
|
|
Dated:
October 16, 2023 |
SILVERCORP METALS INC. |
|
|
|
/s/ Derek Liu |
|
Derek Liu |
|
Chief Financial Officer |
EXHIBIT INDEX
|
|
EXHIBIT |
DESCRIPTION OF EXHIBIT |
Exhibit 99.1
Silvercorp Releases Fiscal 2023 Sustainability
Report
Trading Symbol |
TSX: SVM |
|
NYSE American: SVM |
VANCOUVER, BC, Oct. 16, 2023 /CNW/ - Silvercorp Metals
Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) is pleased to announce the publishing of its
annual Sustainability Report for Fiscal 2023, detailing the Company's environmental, social, and governance ("ESG") performance,
management, and targets.
"We remain firmly committed to the integration
of Environmental, Social, and Governance (ESG) principles into our strategic planning, operations, and management," said Dr. Rui
Feng, Chairman and CEO of Silvercorp. "By prioritizing responsible mining, Silvercorp ensures that its operations not only create
value for stakeholders but also have a positive impact on the lives of those connected to its activities. As we progress towards our Fiscal
2024 goals and targets, Silvercorp's core values and purpose will guide each decision, ensuring that sustainability and responsibility
remain at the forefront of our endeavors."
Highlights of Silvercorp's Fiscal 2023 Sustainability Report
- ESG Management: 100% of our operating mines were awarded
with ISO certifications in environmental, energy, and occupational health and safety management.
- Environment: Recycled 84.85% of water used in our operations,
increasing our water recycling rate by 5.63% compared to our 2020 levels.
- Health and Safety: There were no work-related fatalities;
reduced LTIR from 0.55 to 0.25, down for the fourth consecutive year.
- Community: Invested in our local communities, supporting
education, economic development, public health, and infrastructure.
- Governance: Adopted four new ESG-related policies at the
Board level, including the Environmental Protection Policy, Community Relations Policy, Human Rights Policy, and Occupational Health and
Safety Policy.
Reporting Frameworks
The Company's report has been prepared in accordance
with the Core Accordance option of the 2021 GRI Standards of the Global Sustainability Standard Board (GSSB), the China Corporate Social
Responsibility Reporting Guidelines 5.0 by the Chinese Academy of Social Sciences (CASS-ESG5.0), the SDG Compass by the United Nations
Global Compact (UNGC), the Global Industry Standard on Tailings Management by the International Council on Mining and Metals (ICMM), the
Task Force on Climate-related Financial Disclosures (TCFD) recommendations, and the Sustainability Accounting Standards Board (SASB) standard
on Metals and Mining.
The full 2023 Sustainability Report is available for
download at www.silvercorpmetals.com , along with the applicable ESG data tables and GRI indices at www.silvercorpmetals.com/reporting/.
About Silvercorp
Silvercorp is a profitable Canadian mining company
producing silver, lead and zinc metals in concentrates from mines in China. The Company's goal is to continuously create healthy returns
to shareholders through efficient management, organic growth and the acquisition of profitable projects. Silvercorp balances profitability,
social and environmental relationships, employees' wellbeing, and sustainable development. For more information, please visit our website
at www.silvercorp.ca.
For further information
Silvercorp Metals Inc.
Lon Shaver
President
Phone: (604) 669-9397
Toll Free: 1 (888) 224-1881
Email: investor@silvercorp.ca
Website: www.silvercorp.ca
CAUTIONARY DISCLAIMER - FORWARD LOOKING STATEMENTS
Certain of the statements and information in this
news release constitute "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform
Act of 1995 and "forward-looking information" within the meaning of applicable Canadian provincial securities laws (collectively,
"forward-looking statements"). Any statements or information 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", "is expected", "anticipates", "believes", "plans", "projects",
"estimates", "assumes", "intends", "strategies", "targets", "goals", "forecasts",
"objectives", "budgets", "schedules", "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
statements or information. Forward-looking statements or information relate to, among other things: the price of silver and other metals;
the accuracy of mineral resource and mineral reserve estimates at the Company's material properties; the sufficiency of the Company's
capital to finance the Company's operations; estimates of the Company's revenues and capital expenditures; estimated production from the
Company's mines in the Ying Mining District; timing of receipt of permits and regulatory approvals; availability of funds from production
to finance the Company's operations; and access to and availability of funding for future construction, use of proceeds from any financing
and development of the Company's properties; and our intention to repurchase up to 4.8% of our common shares, including the expected timing,
duration, volume and nature of such stock repurchase program.
Forward-looking statements are subject to a variety
of known and unknown risks, uncertainties and other factors that could cause actual events or results to differ from those reflected in
the forward-looking statements, including, without limitation, risks relating to: global economic and social impact of COVID-19; fluctuating
commodity prices; calculation of resources, reserves and mineralization and precious and base metal recovery; interpretations and
assumptions of mineral resource and mineral reserve estimates; exploration and development programs; feasibility and engineering reports;
permits and licenses; title to properties; property interests; joint venture partners; acquisition of commercially mineable mineral rights;
financing; recent market events and conditions; economic factors affecting the Company; timing, estimated amount, capital and operating
expenditures and economic returns of future production; integration of future acquisitions into the Company's existing operations; competition;
operations and political conditions; regulatory environment in China and Canada; environmental risks; foreign exchange rate fluctuations;
insurance; risks and hazards of mining operations; key personnel; conflicts of interest; dependence on management; internal control over
financial reporting; bringing actions and enforcing judgments under U.S. securities laws; and our ability to realize the anticipated benefits
of our share repurchase program.
This list is not exhaustive of the factors that
may affect any of the Company's forward-looking statements. Forward-looking statements are statements about the future and are inherently
uncertain, and actual achievements of the Company or other future events or conditions may differ materially from those reflected in the
forward-looking statements due to a variety of risks, uncertainties and other factors, including, without limitation, those referred to
in the Company's Annual Information Form under the heading "Risk Factors". Although the Company has attempted to identify important
factors that could cause actual results to differ materially, there may be other factors that cause results not to be as anticipated,
estimated, described or intended. Accordingly, readers should not place undue reliance on forward-looking statements.
The Company's forward-looking statements are based
on the assumptions, beliefs, expectations and opinions of management as of the date of this news release, and other than as required by
applicable securities laws, the Company does not assume any obligation to update forward-looking statements if circumstances or management's
assumptions, beliefs, expectations or opinions should change, or changes in any other events affecting such statements. For the reasons
set forth above, investors should not place undue reliance on forward-looking statements.
Additional information related to the Company,
including Silvercorp's Annual Information Form, can be obtained under the Company's profile on SEDAR+ at www.sedarplus.ca, on
EDGAR at www.sec.gov, and on the Company's website at www.silvercorp.ca.
View original content to download multimedia:https://www.prnewswire.com/news-releases/silvercorp-releases-fiscal-2023-sustainability-report-301958018.html
SOURCE Silvercorp Metals Inc
View original content to download multimedia: http://www.newswire.ca/en/releases/archive/October2023/16/c2834.html
%CIK: 0001340677
CO: Silvercorp Metals Inc
CNW 17:15e 16-OCT-23
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