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.
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 Silvercorp's commitment to increasing output from its established Chinese operations while maintaining efficiency. The company's performance reflects broader trends in the precious metals market, where both silver and gold have maintained strong pricing environments.
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 establishing a global mining presence. The company's ability to capitalize on favorable market conditions while simultaneously expanding production capacity positions it for continued growth in the global mining sector.
The revenue achievement represents a notable milestone for Silvercorp, coming during a period of both operational expansion and market opportunity. The combination of strong precious metals prices and increased production capacity creates favorable conditions for sustained financial performance. Additional information about the company's operations and financial performance is available at https://silvercorpmetals.com/welcome. Silvercorp's quarterly results highlight the company's successful execution of its growth strategy while navigating global market conditions that have supported precious metals pricing. The simultaneous advancement of both Chinese and Ecuadorian operations suggests a balanced approach to geographic diversification and production scaling.
