Email Facebook Twitter

Exclusive: Hayden Locke, CEO Emmerson plc, a low cost high margin potash investment
Richard Slape, Oil consultant - Avoiding Losers and Picking Winners, his personal strategy

Alliance News

Hochschild Mining Extends Inmaculada Lifetime On New Resource Finds

Wed, 7th Nov 2018 10:18

LONDON (Alliance News) - Hochschild Mining PLC on Wednesday said it has continued to significantly increase the resource at its Inmaculada mine in Peru.

So far in 2018, Hochschild has added 1.3 million gold equivalent ounces to the inferred resource at the mine, having added 800,000 ounces of gold equivalent at the half-year stage.

Chief Executive Ignacio Bustamante said: "Today we are changing the paradigm of how Hochschild Mining operates. Although we have been mining underground for several decades, we have always reported a relatively short life-of-mine."

"With the 95 million ounces added so far this year to Inmaculada's resource base, we are extending its life to more than 12 years, a record for any Hochschild asset. Furthermore, this is in our largest ever mine in terms of ounces," he added.

"Inmaculada represents approximately 74% of our cashflow and stands well inside of the first quarter of the industry's cost curve. Such a significant addition has already changed our approach to mining and, is also just the beginning, as we are continuing to develop this exciting district as well as our other attractive properties in Peru and Argentina."

Shares were 4.7% higher on Wednesday at 168.60 pence each.

By George Collard;

Copyright 2018 Alliance News Limited. All Rights Reserved.

Alliance News

Back to Alliance News

Share Price, Share Chat, Stock Market news at
FREE Member Services
- Setup a personalised Watchlist and Virtual Portfolio.
- Gain access to LIVE real-time Regulatory News (RNS).
- View more Trades, Directors' Deals, and Broker Ratings.
Share Price, Share Chat, Stock Market news at

Datafeed and UK data supplied by NBTrader and Digital Look. While London South East do their best to maintain the high quality of the information displayed on this site,
we cannot be held responsible for any loss due to incorrect information found here. All information is provided free of charge, 'as-is', and you use it at your own risk.
The contents of all 'Chat' messages should not be construed as advice and represent the opinions of the authors, not those of London South East Limited, or its affiliates.
London South East does not authorise or approve this content, and reserves the right to remove items at its discretion.