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Hochschild Mining PLC - London-based silver and gold mining company with operations in North and South America - Says Chief Executive Officer Ignacio Bustamante intends to step down on August 26, but will remain on Hochschild's board as a non-executive director, representing its largest shareholder Pelham Investment Corp. Bustamente has been appointed as head of base metals at Appian Capital Advisory LLP, effective on August 28. Eduardo Landin, who joined Hochschild in 2008, will succeed Bustamante as CEO after ten years as Hochschild's chief operating officer. Director of Technical Services Rodrigo Nunes has been promoted to succeed Landin as COO, effective on August 26. Hochschild Mining reiterates the cost and production guidance announced on May 10, subject to approval of a modified environmental impact assessment at its Immaculada mine in the current quarter.
Landin says: "I am very excited to take on the role of CEO later this year and continue to execute our long-term strategic plan. I look forward to working with all my colleagues across the business to ensure that we maintain strong safety, environmental, operational and financial performance, while progressing our growth strategy."
Current stock price: 72.55 pence, up 0.7% in London on Tuesday
12-month change: down 36%
By Emma Curzon, Alliance News reporter
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