Sierra Metals signs MOU with Jinchuan Group in mexico
Sierra Metals signed a Memorandum of Understanding with Jinchuan Group which formalizes the intentions of the parties in respect of their cooperation focused on the Jinchuan's Bahuerachi copper mining project's development in Chihuahua, Mexico. Jinchuan acquired the Bahuerachi copper porphyry deposit in connection with its acquisition of Tyler Resources in 2008 and has conducted multiple geologic and engineering studies with an aim to developing a large scale open pit copper mine. The Bahuerachi project concessions are adjacent to Sierra Metals' Bolivar copper mine concessions. The MOU has the objective of accelerating the cooperation between Jinchuan and Sierra Metals at the Bahuerachi mining concessions in a manner that is mutually beneficial to both companies.