Santacruz Silver Mining Ltd (TSX-V:SCZ, OTC:SZSMF) reported solid production results for Q4 2024, producing 4.71 million silver-equivalent ounces across its mines in Bolivia and Mexico.
Silver output rose 3% from the previous quarter to 1.76 million ounces, which Santacruz attributed to strong market prices and steady operations.
The company processed 493,141 tonnes of ore during the quarter, with key contributions from its Bolivar, Porco, and Caballo Blanco mines in Bolivia, as well as the Zimapán mine in Mexico.
Zinc production totaled 23,357 tonnes, while lead and copper output reached 2,932 tonnes and 248 tonnes, respectively.
At the Bolivar mine, silver-equivalent production rose 2% sequentially to 1.03 million ounces, benefiting from higher silver head grades. The Porco mine saw a 10% increase in ore processed, though silver output declined 15% due to lower grades. Meanwhile, the Caballo Blanco Group recorded a 48% jump in silver production, reflecting improved mill recovery rates.
“These results underscore Santacruz's unwavering focus on optimizing our processes and mining operations across all our producing assets, a testament to our commitment to operational excellence,” CEO Arturo Préstamo said in a statement.
“This growth in silver output and favorable market dynamics in silver prices have significantly strengthened our revenue-generating ability.”
Looking ahead, Préstamo said Santacruz is focused on optimizing its mining operations, with the company viewing its current production levels as a strong foundation for further growth in 2025.
Shares of Santacruz Silver added 7.4% in morning Thursday trading.