By: Adriano Marchese
Guanajuato Silver, a leading precious-metals producer in central Mexico, has announced plans to implement operational changes that will result in lower silver production in 2023. In an effort to improve profitability, the company will be shifting its operational strategies to mine higher-grade material at reduced volumes.
According to James Anderson, Chairman and CEO of Guanajuato Silver, these initiatives will have an impact on production levels in 2023. The company now projects its full-year silver equivalent production to range between 3.4 million and 3.6 million ounces, a decrease from the initial target of 4.6 million to 4.8 million silver-equivalent ounces set in May.
The operational changes will involve various infrastructure improvements to support targeted mining of higher-grade areas in the company’s mines. Upgrades to ventilation systems will also be made, allowing Guanajuato Silver to extend its drilling reach.
Furthermore, the company has decided to shift its business model at its Topia operations and solely process third-party ore. This strategic change is expected to yield higher profits for Guanajuato Silver.