Silvercorp Metals Inc is engaged in developing, exploring and producing silver, lead, and zinc concentrates in China.
The company entered China in 2003 to tap underexplored resources.
The firm claims that the Chinese government invested for geological exploration in the 1950s and 60s. However, to fully exploit the potential, the government adopted the Mineral Resource Law in 1977 to allow foreign mining companies to enter the Chinese mining sector.
The company reportedly focuses on building profitable projects and developing healthy returns for shareholders through sustainable operations, organic growth and efficient management.
Silvercorp acquired a small producing mine, Ying project, located in Henan province in 2004. Over the next two years, the company focused on exploration and discovered high-grade mineralization similar to the US-based Coeur d'Alene silver district.
The Canadian producer received its first mining permit on March 31, 2006 from the Ministry of Land & Resources. Subsequently it commenced commercial production of lead, zinc and silver concentrates from the Ying mine.
It acquired three nearby mines, namely, TLP, LM and HPG and consolidated the Ying mine district in 2007.
Silvercorp developed and produced 3,300 ounces of gold, 6.3 million ounces of silver, 65.3 million pounds of lead, 25.4 million pounds of zinc at the end of March 31, 2020, it adds.
The company claims to be among the largest taxpayers and non-state-controlled entity in the Luoyang province.
The Canadian mining company began production at the GC silver-lead-zinc project in Guangdong Province in 2014.
Silvercorp owns a diversified property portfolio consisting of the following assets:
• SGX mine: It is a flagship property acquired in 2004.
• TLP mine: silver-lead mine located 11 km east-southeast of SGX mine
• LM mine: silver-lead mine located to the south of the TLP mine
• GC mine: silver-lead-zinc mine located in Guangdong Province.
• HPG mine: It produces silver, gold and lead.
• BYP mine: gold-lead-zinc mine located in Hunan Province.
The company commissioned AMC Mining Consultants (Canada) Ltd to prepare technical reports for its operations at the Ying Mining district.
SilverCorp claims to follow a long-term growth strategy that creates local jobs, tax revenue for local government and minimum dilution for its shareholders.