Silvercorp Metals Inc. says it is temporarily slowing work at its Ying and GC mining operations in China to complete required safety work and equipment upgrades. The company attributes the change to recent updates to Chinese government requirements governing mining safety systems. Silvercorp states that the necessary implementation work will include installing new safety systems at both sites.
According to the outlets, the company expects the downtime and related work to take about 50 days. The total cost of the project is reported as about US$5 million, with one source citing $5.5 million. The reporting also indicates that the adjustments are part of compliance rather than a change in the overall business strategy.
Overall, the sources agree that Silvercorp is reducing operational pace at the two China projects while it implements safety-related measures mandated by regulators, with a defined timeline and an associated cost estimate.
