09:19 AM EDT, 05/31/2024 (MT Newswires) -- Santacruz Silver Mining ( SZSMF ) said on Friday that it swung to a profit in the first quarter while revenue dropped 20% as production at Bolivian mines faced several disruptions.

The company reported first-quarter net income of US$129 million ($175.9 million), or US$0.37 per share, compared with a loss of US$176,000, or US$0.00 per share, a year earlier.

Revenue for the quarter ended March 31 fell to US$52.6 million from US$65.4 million a year earlier.

In the first quarter, the company processed 470,749 tonnes of material and produced about 4.5 million silver equivalent ounces, including about 1.6 million ounces of silver, 22,847 tonnes of zinc, 2,953 tonnes of lead, and 256 tonnes of copper.