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14 May 2024
Commercial Production
Achieved at Mara Rosa
Hochschild Mining PLC
(HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the
Company") is pleased to announce that commercial production has
been achieved at the Company's Mara Rosa gold mine in Brazil,
effective 13 May 2024.
During May, the Mara Rosa processing
plant has operated at an average throughput of approximately 90% of
its name-plate capacity of 7,000 tonnes per day and exceeded 80%
average recoveries. The ramp-up is on schedule to be completed in
H1 and gold production is expected to continue to increase in the
third and fourth quarters of 2024, with the mine on track to
produce between 83,000 to 93,000 ounces of gold this
year.
Mara Rosa is Hochschild's first
Brazilian operation and is located in the state of Goias. Brazil
represents a key growth opportunity for Hochschild as the Company
continues to execute its strategy of increasing production while
reducing costs. Mara Rosa is delivering production at a
significantly lower cost, with excellent potential to provide
additional resources which we are targeting through the Company's
brownfield exploration programme. Furthermore, the Company recently
announced the securing of an option to acquire 100% of Cerrado
Gold's Monte Do Carmo gold project ("MDC") in the state of
Tocantins. This low-cost opportunity will follow the blueprint
established at Mara Rosa and, if the option is exercised, MDC will
provide the Company with a further source of growth, also with a
compelling cost profile.
Eduardo Landin, Chief Executive Officer,
said:
"Achieving commercial production at Mara Rosa is a significant
milestone for Hochschild and has been delivered ahead of our end H1
2024 forecast. This brings a new jurisdiction to the Company and
provides a springboard for further low-cost growth in Brazil. We
are pleased that Mara Rosa is ramping up quickly and thank our
team, contractors and stakeholders for their hard work and
support."
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Enquiries:
Hochschild Mining PLC
Charles Gordon
+44 (0)20 3709 3264
Head of Investor
Relations
Hudson Sandler
Charlie Jack
+44 (0)207 796
4133
Public Relations
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About Hochschild Mining PLC
Hochschild Mining PLC is a leading
precious metals company listed on the London Stock Exchange (HOCM.L
/ HOC LN) and crosstrades on the OTCQX Best Market in the U.S.
(HCHDF), with a primary focus on the exploration, mining,
processing and sale of silver and gold. Hochschild has over fifty
years' of experience in the mining of precious metal epithermal
vein deposits and currently operates two underground epithermal
vein mines: Inmaculada, located in southern Peru; and San Jose in
southern Argentina, and an open pit gold mine, Mara Rosa, located
in the state of Goiás, Brazil. Hochschild also has numerous
long-term projects throughout the Americas.
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Forward looking statements
This announcement may contain forward looking statements. By
their nature, forward looking statements involve risks and
uncertainties because they relate to events and depend on
circumstances that will or may occur in the future. Actual results,
performance or achievements of Hochschild Mining PLC may, for
various reasons, be materially different from any future results,
performance or achievements expressed or implied by such forward
looking statements.
The forward looking statements reflect knowledge and
information available at the date of preparation of this
announcement. Except as required by the Listing Rules and
applicable law, the Board of Hochschild Mining PLC does not
undertake any obligation to update or change any forward looking
statements to reflect events occurring after the date of this
announcement. Nothing in this announcement should be construed as a
profit forecast.
This announcement contains information which prior to its
release could be considered inside information.
LEI: 549300JK10TVQ3CCJQ89
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