Other Events ·
Silvercorp raises El Domo construction budget to $298.2M, delays production to November 2027
SVMSilvercorp Metals Inc
Silvercorp Metals Inc. updated the capital cost estimate for its El Domo Project in Ecuador, increasing the total construction budget by $14.6 million to $298.2 million from a previous $283.6 million forecast. The revision reflects higher diesel fuel costs due to subsidy eliminations, infrastructure enhancements driven by heavy rainfall, and equipment price adjustments, partially offset by reduced contingency allowances. Consequently, the company expects a four-month delay in project completion, pushing the targeted production start date to November 2027. Silvercorp Metals Inc. is a Canadian mining company producing silver, gold, lead, and zinc.