Trevali lowers guidance as Santander water ingress delays development

Pure-play zinc producer Trevali Mining expects to produce less metal from the Peru-based Santander mine this year, after extreme rainfall during the recent mountain wet season delayed high-grade stope development by a quarter. The company announced on Thursday that the excessive rainfall during the three months ended June also caused mine and mill production to trend below plan, prompting management to reschedule the mine sequencing, resulting in lower-grade ore, at about 3% zinc, compared with 4.5%, according to plan.