Silvercorp raises El Domo project budget by $14.6 million

Vancouver - Silvercorp Metals Inc., a Canadian mining company, announced an updated budget and schedule for its El Domo Project in Ecuador on Monday. The construction budget has risen to $298.2 million from the previous estimate of $283.6 million. The increase is primarily due to higher diesel fuel prices, water management infrastructure enhancements, and increased site power supply equipment costs.

Despite these adjustments, the company achieved savings of $9.8 million through various cost-cutting measures. As of September 30, 2026, total actual expenditures stood at $84.6 million, with $213.6 million remaining. The project completion date has been delayed by four months due to prolonged rainfall caused by the Super El Niño phenomenon. The company now expects production to commence by November 1, 2027.