Hochschild Mining PLC (LSE:HOC, OTCQX:HCHDF) reported lower attributable gold and silver production in the second quarter but said it remains on track to meet its 2022 output target.
Attributable gold production fell 8% year-on-year to 49,133 ounces, while its share of silver production fell 15% to 2.6mln ounces due to lower grades at its Inmaculada and Pallancata operations in Peru.
Attributable production includes 100% of all output from Inmaculada and Pallancata and 51% from the San Jose mine in Argentina. Gold and silver production for the quarter rose year-on-year at San Jose following a weak first quarter.
The FTSE-250 precious metals miner said it was on track to deliver its 2022 production target of 360,000-375,000 gold equivalent ounces and its all-in sustaining costs of US$1,330-1,370 per gold equivalent ounce.
“This has been achieved despite operational issues at Pallancata and San Jose and in an environment of considerable economic challenges,” said chief executive Ignacio Bustamante.