Santacruz Silver Mining (TSX.V: SCZ) reported that its production grew by 346% in 2019 when compared to the previous year, reaching 2.8 million equivalent ounces of silver.
Silver production from its Mexican properties, on the other hand, reached 787,476 ounces, representing a 249% increase over 2018.
In a press release, the Vancouver-based miner said the output rise is a result of the company’s two-phase acquisition of Carrizal Mining and its rights to operate the Zimapan mine from Grupo Peñoles.
“Santacruz had a record year in 2019 producing 2.8 million silver equivalent ounces following the successful acquisition and integration of Carrizal Mining,” Carlos Silva, Santacruz’s COO, said in the media brief. “In addition to this transformative event, the Veta Grande and Rosario mines increased their annual production substantially, while at the same time maintaining significant development activities and advancing exploration plans as a pathway to keep improving our production at all mines and expanding mine resources.”
The Zimapan project is located in the Mexican town of the same name in the central-eastern state of Hidalgo.
Veta Grande, whose production increased by 50% and 140% respectively when compared to 2018, is located on Zacatecas, while Rosario is located in San Luis Potosí.