VANCOUVER – Silvercorp Metals Inc. (TSX:SVM) said Monday that production at its Ying Mine in China will be interrupted for about five days as a result of power interruptions.
The company said the interruptions were due to work being done to relocate power lines in order to accommodate new highway construction.
“Silvercorp’s management team is working closely with the relevant authorities to ensure power to Silvercorp is restored as soon as possible to minimize the impact on the company’s operations,” the company said.
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Silvercorp is the largest primary silver producer in China with four silver-lead-zinc mines at the Ying mining district in Henan province. In addition to its operations in China, Silvercorp is developing the Silvertip project in northern British Columbia.
The company bought the project from Silver Standard in 2010 for $15 million in cash and shares.
Silvercorp was in the spotlight last year after an anonymous letter addressed to the Ontario Securities Commission, the company’s auditors and various media outlets accused the company of a $1.3-billion accounting fraud.
However, a forensic auditor’s report has since backed the TSX-traded Chinese miner’s financial statements.
None of the allegations against the company have been proven.
Silvercorp has also filed a lawsuit in New York against several companies and individuals for spreading lies about the company as part of a short-sell manipulation scheme.
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