07:42 AM EDT, 07/19/2024 (MT Newswires) -- Sierra Metals ( SMTSF ) on Friday said it has completed the sale of the Cusi Mine and surrounding mineral concessions in Mexico to a subsidiary of Silverco Mining (SMC) for US$2.5 million in cash.

Sierra Metals ( SMTSF ) retains a 2% net smelter royalty. SMC has the right to purchase one-half of the royalty at any time for US$5 million.

Sierra will now focus on growing its two core assets, the Yauricocha polymetallic mine in Peru and the copper-producing Bolivar mine in Mexico.