Business
Silvercorp Metals: El Domo - Curipamba Project Fully Permitted to Start Construction
VANCOUVER, BC, Aug. 6, 2024 /CNW/ - Silvercorp Metals Inc. ("Silvercorp" or the "Company") (TSX: SVM) (NYSE American: SVM) and Salazar Resources Limited ("Salaz
About this update from Silvercorp Metals Inc.
[{"type":"text","content":" VANCOUVER, BC, Aug. 6, 2024 /CNW/ - Silvercorp Metals Inc. (\"Silvercorp\" or the \"Company\") (TSX: SVM) (NYSE American: SVM) and Salazar Resources Limited (\"Salazar\") (TSXV: SRL) (OTCQB: SRLZF) are pleased to announce that the Ministry of Energy and Mines of the Government of Ecuador (\"MEM\") has issued a Resolution of Change of Phase for the El Domo-Curipamba Project (the \"Project\"). The Resolution of Change of Phase advances the legal status of the Project from the Economic Evaluation Phase to the Exploitation Phase and allows for the start of construction and subsequent operation of the mine. The Change of Phase for a medium-scale project, such as El Domo – Curipamba, is equivalent to the Exploitation Agreement for large-scale mines in Ecuador such as Fruta del Norte and Mirador. Dr. Rui Feng, Chairman and CEO of the Company, commented: \"The Resolution of Change of Phase is the final major approval required for full stage construction to start for the El Domo-Curipamba Project. With the achievement of this important milestone, we reaffirm our commitment to modern, responsible development that will benefit the communities where we operate and the Country of Ecuador as a whole.\" Fredy E. Salazar, President and CEO of Salazar, commented: \"First, I want to thank the team for achieving this milestone, which reflects their continued dedication over the past years. We look forward to El Domo becoming the next major industrial mine in Ecuador.\" About Silvercorp Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The Company's strategy is to create shareholder value by 1) focusing on generating free cashflow from long-life mines; 2) organic growth through extensive drilling for discovery; 3) ongoing merger and acquisition efforts to unlock value; and 4) a long-term commitment to responsible mining and ESG. For more information, please visit our website at www.silvercorpmetals.com. About Salazar Salazar Resources Limited is focused on creating value and positive change through discovery, exploration, and development in Ecuador. The team has an unrivalled understanding of the geology in-country and has played an integral role in the discovery of many of the major projects in Ecuador, including the two newest operating gold and cop...