Silvercorp Metals Inc. (TSX: SVM) (NYSE American: SVM) announced an updated construction budget and schedule for its El Domo Project, revising total estimated capital costs to $284 million, up $44 million from the $240 million estimate dated March 31, 2025. The increase primarily reflects higher VAT rates in Ecuador, expanded and refined process plant scope, added infrastructure and owner-related costs, and previously omitted engineering, supervision, and environmental items, partially offset by lower mining and stripping costs, project-level savings, and a reduced contingency allowance.
The company said the higher VAT is expected to be recovered as a tax credit in the first year of operations once concentrate exports begin, while the reduced contingency reflects more detailed engineering and improved cost certainty as construction advances. The updated budget underscores Silvercorp's commitment to advancing the El Domo Project, which is a key component of its growth strategy.
Silvercorp is a Canadian mining company producing silver, gold, lead, and zinc with a long history of profitability and growth potential. The company's strategy is to create shareholder value by focusing on generating free cash flow from long-life mines, organic growth through extensive drilling for discovery, ongoing merger and acquisition efforts to unlock value, and a long-term commitment to responsible mining and ESG.
For the full press release, visit https://ibn.fm/mP1DG. The latest news and updates relating to SVM are available in the company's newsroom at https://ibn.fm/SVM.
