Holding(s) in Company

TR-1: NOTIFICATION OF MAJOR INTEREST IN SHARES

1. Identity of the issuer or the underlying issuerof existing shares to which voting rights areattached:

Hochschild Mining plc

2 Reason for the notification (please tick the appropriate box or boxes):

An acquisition or disposal of voting rights

X

An acquisition or disposal of qualifying financial instruments which may result in the acquisition of shares already issued to which voting rights are attached

An acquisition or disposal of instruments with similar economic effect to qualifying financial instruments

An event changing the breakdown of voting rights

Other (please specify):

3. Full name of person(s) subject to thenotification obligation:

M&G Investment Funds 1

4. Full name of shareholder(s)  (if different from 3.):

Nortrust Nominee Ltd A/C MED01

Nortrust Nominee Ltd A/C MEJ01

5. Date of the transaction and date onwhich the threshold is crossed orreached:

01 November 2010

6. Date on which issuer notified:

02 November 2010

7. Threshold(s) that is/are crossed orreached:

5%

8. Notified details:

A: Voting rights attached to shares

Class/type ofshares

if possible usingthe ISIN CODE

Situation previousto the triggeringtransaction

Resulting situation after the triggering transaction

NumberofShares

NumberofVotingRights

Numberof shares

Number of votingrights

% of voting rights x

Direct

Direct

Indirect

Direct

Indirect

GB00B1FW5029

Below 5%

Below 5%

16,907,431

16,907,431

0

5.00%

0%

B: Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Expirationdate

Exercise/Conversion Period

Number of votingrights that may beacquired if theinstrument isexercised/ converted.

% of votingrights

C: Financial Instruments with similar economic effect to Qualifying Financial Instruments

Resulting situation after the triggering transaction

Type of financialinstrument

Exercise price

Expiration date

Exercise/Conversion period

Number of voting rights instrument refers to

% of voting rights

Nominal

Delta

Total (A+B+C)

Number of voting rights

Percentage of voting rights

16,907,431

5.00%

9. Chain of controlled undertakings through which the voting rights and/or thefinancial instruments are effectively held, if applicable:

Proxy Voting:

10. Name of the proxy holder:

N/A

11. Number of voting rights proxy holder will ceaseto hold:

N/A

12. Date on which proxy holder will cease to holdvoting rights:

N/A

13. Additional information:

With reference to item 3, M&G Investments Funds 1 is an Open Ended Investment Company (OEIC) and is not a Prudential group company and must be separately disclosed.

This OEIC Fund is managed by M&G Investment Management Limited (a wholly owned subsidiary of Prudential plc) and will have been previously attributed to Prudential plc solely on the basis that M&G Investment Management Ltd has direct fund management control over the shares identified in this notification.

Therefore the 5.00% holding being disclosed in this notification is encompassed in the 5.82% already disclosed under The Prudential plc group of companies on 15 October 2010 and is NOT in addition to it.

14. Contact name:

Raj Bhasin, Company Secretary, Hochschild Mining plc

15. Contact telephone number:

020 7907 2930