SMTS - Release - Sierra Metals Inc. (SMT:CA)(SMTS) - To Invest US$28 Million For An Iron Ore Processing Plant

TORONTO--(BUSINESS WIRE)-- Sierra Metals Inc. (TSX: SMT) (BVL: SMT) (NYSE AMERICAN: SMTS) (“Sierra Metals” or “the Company”) today announces that its Board of Directors has approved the investment by the Company of US$28 million for the construction of a magnetite processing plant including an initial expenditure of $5.2 million for early procurement and contracting on the project. The plant is expected to produce approximately 500,000 tonnes per year of 62% iron ore fines concentrate at the Company’s Bolivar Mine located in the Chihuahua State, Mexico.&nbspRead More >>