Scorpio Mining Corp. said Tuesday that third-quarter production of silver and other metals from its Nuestra Señora operation in Mexico rose 13 percent over the year-earlier level.
The Toronto-based company said that at the end of the third quarter year-to-date zinc and silver production were 10 percent and 1 percent ahead of forecast, respectively, whereas lead and copper, were 20 percent and 34 percent behind forecast, respectively.
While realized silver and zinc grades were in line with geological models, copper and lead grades have been lower than expected.
It is anticipated that silver and zinc production for 2011 will meet forecast, whereas copper and lead will be lower than forecast, Scorpio Mining said in statement.
Production from Nuestra Señora is estimated to exceed 3 million silver equivalent ounces in 2011, the Vancouver-based company said.
Shares of Scorpio Mining fell 5 percent in midday trading.