Silvercorp Metals Inc. reported a 23% year-over-year revenue increase to $83.3 million for the quarter ended September 30, marking the second-highest quarterly revenue in the company's 18-year history. The Canadian mining company attributed this performance to strong production from its Ying Mining District in China and favorable market prices for precious metals. The company sold approximately 1.66 million ounces of silver, 2,033 ounces of gold, 14.75 million pounds of lead, and 5.67 million pounds of zinc during the quarter.
Silver continued to be the primary revenue driver, accounting for 67% of quarterly revenue, while gold sales showed particularly strong growth with a 64% year-over-year increase. This performance reflects broader trends in the precious metals market, where both silver and gold have maintained strong pricing environments. Silvercorp's ability to capitalize on these market conditions while simultaneously expanding production capacity positions the company for continued growth in the global mining sector.
Production expansion remains a key focus for Silvercorp, with expectations of a sharp increase in ore mined at the Ying Mining District during the current quarter. The company projects ore production will rise from 265,000 metric tons to approximately 346,000 metric tons, representing significant operational scaling. This expansion demonstrates the company's commitment to increasing output from its established Chinese operations while maintaining operational efficiency.
International expansion efforts showed substantial progress at the El Domo project in Ecuador, where construction activities accelerated dramatically. Material cut for site preparation, roads, and channel construction increased by 249%, indicating rapid development of the company's South American operations. This expansion demonstrates Silvercorp's strategic diversification beyond its Chinese operations and represents a significant step in the company's global growth strategy. Additional information about the company's operations and financial performance is available at https://silvercorpmetals.com/welcome.
