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Gold & silver

Exploration success adds gloss to strong production at Hochschild Mining

Hochschild produced 245,000 gold equivalent ounces, which was the second-best half-year performance in its history.

Hochschild Mining PLC (LON:HOC) continued to produce strongly in the second quarter of 2019.

Output in the three months to June was 124,000 gold equivalent ounces, said the miner, with its flagship Inmaculada mine in Peru operating especially well.

For the half-year, Hochschild produced 245,000 gold equivalent ounces, which was the second-best performance in its history.

The Latin America- focused group is on track to produce 457,000 gold equivalent ounces over the year at all-in sustaining costs of $960-$1,000 per gold equivalent ounce.

Ignacio Bustamante, chief executive, said: "Hochschild has continued its strong operational performance in the second quarter of 2019, with year-on-year increases at all three of our mines.”

Exploration at the Palca zone to the south of Pallancata mine (also in Peru) had already found mineralisation while at Inmaculada several new veins have been discovered to the west of the Angela vein, he added.

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