Three miners die at Peru copper mine run by Toronto’s Sierra Metals

Breadcrumb Trail Links News Mining Commodities Brings total of deaths to four since January Publishing date: Sep 13, 2022  •  21 minutes ago  •  2 minute read  •  Join the conversation A view of Sierra Metals’ Yauricocha mine in Peru. Photo by Sierra Metals Inc./CNW Group Article content Three miners who worked at a copper-zinc mine owned by Toronto-based Sierra Metals Inc. died due to a “mudslide incident” in Peru, the company said, bringing the total of worker deaths to four since January. Advertisement 2 This advertisement has not loaded yet, but your article continues below. Article content One other miner was injured, the company said, as it temporarily suspended operations at its Yauricocha underground mine in western central Peru, in which it has an 82 per cent interest.  Mining will resume once conditions are “safe and appropriate,” Sierra said in a press release on Monday. Financial Post Top Stories Sign up to receive the daily top stories from the Financial Post, a division of Postmedia Network Inc. By clicking on the sign up button you consent to receive the above newsletter from Postmedia Network Inc. You may unsubscribe any time by clicking on the unsubscribe link at the bottom of our emails. Postmedia Network Inc. | 365 Bloor Street East, Toronto, Ontario, M4W 3L4 | 416-383-2300 Thanks for signing up! A welcome email is on its way. If you don’t see it, please check your junk folder. The next issue of Financial Post Top Stories will soon be in your inbox. We encountered an issue signing you up. Please try again Article content The Toronto-headquartered company, which runs two other mines in Mexico, had also reported a death of a worker in January in its Bolivar mine in the Chihuahua state of Mexico. “Safety is of the utmost importance for Sierra Metals. The tragic event in Mexico was thoroughly investigated and appropriate corrective action was taken,” Gabriel Gregori, a Sierra spokesperson, said. “We will be providing updates of this unfortunate incident (in Peru) as they become available.” Advertisement 3 This advertisement has not loaded yet, but your article continues below. Article content Local authorities were investigating the incident, Sierra said. Peru is the world’s second-largest producer of copper, the demand for which has increased in recent years as countries take steps towards decarbonization. The deaths add to renewed attention to safety concerns in the region’s mining sector. In July, Chile’s state-owned Codelco temporarily halted construction of its mining projects after reporting two deaths. In addition, 10 Mexican coal miners, who have been trapped in a flooded mine in northern Mexico, since Aug. 3, are believed to be dead. Glencore reaches new deal with workers at Quebec nickel mine ‘Treated as guinea pigs’: Ontario miners await apology after being forced to inhale McIntyre powder Vancouver-based Equinox Gold suspends its biggest mine over fresh blockade Rio Tinto invests in early stage copper project amidst next ‘M&A cycle’ Sierra depends upon the Yauricocha mine for more than half of its revenue, but the company said it hasn’t yet “made an assessment” of how the temporary shutdown might impact its yearly goals. The mine, which has been in production for over 70 years, produced about 5.1 million pounds of copper in the second quarter this year. At 9:30 a.m. in Toronto, shares of Sierra Metals were trading at 65 cents, within a 52-week trading range of 52 cents and $3.57. The company has a market cap of $106.5 million. • Email: nkarim@postmedia.com | Twitter: naimonthefield Share this article in your social network Advertisement This advertisement has not loaded yet, but your article continues below. Comments Postmedia is committed to maintaining a lively but civil forum for discussion and encourage all readers to share their views on our articles. Comments may take up to an hour for moderation before appearing on the site. We ask you to keep your comments relevant and respectful. We have enabled email notifications—you will now receive an email if you receive a reply to your comment, there is an update to a comment thread you follow or if a user you follow comments. Visit our Community Guidelines for more information and details on how to adjust your email settings.

This article was published by: Naimul Karim

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