Sierra Metals Appoints Luis Marchese as Chief Executive Officer
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Sierra Metals has appointed Luis C. Marchese as chief executive officer, effective June 1, 2020. In conjunction with his upcoming appointment as CEO, Marchese will join the company’s board of directors.
Luis Marchese is a highly regarded mining executive with 25-years of experience in the mining sector, mostly at Anglo American (22 years). He was Anglo American’s Peru country manager and most notably, during different periods, general manager of Quellaveco, one of the world’s largest copper mining projects, now under construction.
Marchese received industry-wide recognition in the Peruvian mining industry with his election as the president of Peru’s Society of Mining and Oil and Energy (SNMP) between 2017-2019. Marchese’s operating experience includes service in Chile (AngloAmerican’s Mantoverde and Mantos Blancos copper mines), Canada (Hudson Bay Mining and Smelting’s polymetallic underground mines), and various assignments at different countries (including Mexico) during his long career tenure. Marchese also served as a senior adviser to Anglo American’s CEO in 2018 and 2019. More recently he was a director to Compañía Minera San Ignacio de Morococha S.A. and an Alternate Director to Compañía Minera Poderosa S.A. Marchese currently holds positions at business associations (CONFIEP), industry associations (SNMPE, CMSP) and Academy (CEMS – UP). Marchese earned a Bachelor of Science degree in Mining Engineering from Pontificia Universidad Catolica Universidad del Peru, and a Master of Science degree in Mineral Economics from The Pennsylvania State University. He has completed an AMP from GIBS – University of Pretoria, and an ASMP delivered jointly by the University of Cambridge and the University of Queensland.
“We are delighted to have Mr. Marchese join us as our new CEO and a member of the board of Sierra Metals. Luis is a great fit for Sierra Metals current strategic direction,” said J. Alberto Arias, chairman.
“After over 10 years of having one the strongest growth track records in the industry, Sierra Metals has become a medium scale diversified mining company with a solid balance sheet and increasing its copper participation, which has become its main source of revenue. Sierra Metals has further attractive organic growth opportunities through its exploration projects in Peru and Mexico, which includes copper porphyry mineralization in Peru and the Copper porphyry environment in Mexico. As noted in our Q1 2020 conference call, management has started a dialog with potential strategic partners to evaluate these porphyry style zones. We are confident that with Mr. Marchese’s strong track record, he will lead the company in an exciting new phase of shareholder value generation and market recognition,” added Arias.
“I am excited about the potential economic value of Sierra Metals assets. I look forward to working closely with our Board and the Sierra employees to fully realize the potential of Sierra Metals assets and operations in Peru and Mexico,” said Luis Marchese.
About Sierra Metals
Sierra Metals is a Canadian based growing polymetallic mining company with production from its Yauricocha Mine in Peru, and its Bolivar and Cusi Mines in Mexico. The company is focused on increasing production volume and growing mineral resources. Sierra Metals has recently had several new discoveries and still has additional brownfield exploration opportunities at all three mines in Peru and Mexico that are within or close proximity to the existing mines. Additionally, the company has large land packages at all three mines with several prospective regional targets providing longer term exploration upside and mineral resource growth potential.
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