El Domo construction reaches 34% after second protection action rejected in Ecuador
Key Facts
On October 28, 2026, Curi Mining, Silvercorp Metals’ Ecuadorian subsidiary, said a court had rejected a second protection action related to the El Domo project in Ecuador. The action, filed by the Sidhou organization, sought to invalidate construction permits, citing an alleged human rights violation, according to coverage citing the company. The company’s statement did not say that the action sought to suspend the permits or construction work. The ruling came as project construction was 34% complete, according to the company. The project is targeting production of copper and other metals, with operations set to begin in the second half of 2027.
The ruling follows earlier legal proceedings over the project’s environmental permit. A local court in Las Naves rejected a challenge to the permit in July 2024, and the provincial court upheld the rejection in November of the same year, according to a company disclosure. In February 2025, Ecuador’s Constitutional Court declined to admit an extraordinary appeal, then unanimously rejected a request for clarification in July 2025, according to the company. The environmental permit was issued in January 2024, according to coverage based on company statements. Curi Mining said the environmental impact study received support from 98% of Las Naves residents in 2024.
Construction work was affected by weather during the second quarter of fiscal 2027, which ended on September 30, 2026. Silvercorp said rainfall totaled 620 millimeters, 489% above the six-year average, and work was halted for 77 days due to rain. Even so, the company completed about 1,009,239 cubic meters of excavation and stripping during the quarter. Foundations for the processing plant buildings and its main equipment were also completed, according to its disclosure. These figures show construction progress disrupted by rain, alongside continued excavation and preparation of the processing site.
On equipment, the company said the first shipment of major long-lead equipment had arrived at a port in Ecuador. Construction also began on a substation at the El Domo site and an external power line to connect the project to the electricity grid. Construction work began in early 2025, according to coverage citing the company. Silvercorp estimates the updated construction budget at about 284 million dollars, up 44 million dollars from the March 2025 estimate of 240 million dollars. The operator owns 75% of the project, while Salazar Resources holds a 25% interest, funded through the start of commercial production.
The plan targets processing about 1,850 tonnes per day, with an expected mine life of 11.5 to 13 years. The company says production will begin in the second half of 2027, with the project reaching capacity in 2028 after testing and operational adjustments. In an update published in October 2026, Salazar estimated the project’s after-tax net present value, at an 8% discount rate, at about 573 million dollars, up 121% from its previous estimate. The estimate reflects expected economic value from the project, while construction work continues ahead of the targeted production date. Rain and the schedule remain among the key execution factors cited by the company in its disclosures.
Available market data did not show a share-price increase in the October 28 session. Silvercorp shares, listed under the symbol SVM, closed at 8.61 dollars, compared with the previous session’s close of 8.62 dollars, according to EL7 data. The available data do not include the session high or low, so they do not support the trading range reported in the earlier version of the story. Looking ahead, Silvercorp expects to publish its unaudited interim financial results for the second quarter of fiscal 2027 after the market closes on November 5, 2026. The results will follow a quarter marked by heavy rain and a suspension of construction work, according to the company’s disclosure.