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(Sharecast News) - Silver and gold mining business Hochschild said on Wednesday that production was set to increase next year thanks to its new mine in Brazil.
Hochschild said production would rise to 340,000-375,000 gold equivalent ounces in 2025, while all-in-sustaining costs looked set to reduce to $1,300-$1,400 per gold equivalent ounce.
The London-listed group said its flagship Inmaculada operation had been de-risked after MEIA approval, while its new low-cost Mara Rosa project was scheduled to commission in Q1 2024, on time and on budget. Hochschild added that the new Royropata deposit will likely deliver an additional 100,000oz per annum from 2027.
Chief executive Eduardo Landin said: "With our Inmaculada mine providing a solid and sustainable base for the long-term, we are excited by the prospect of first production in the next few months from our new Mara Rosa mine in Brazil and also by the potential at the new Royropata deposit in southern Peru.
"I believe that, when set alongside a disciplined approach to capital allocation and our ESG focus, the clear strategy set out today will deliver strong shareholder returns in the near future."
As of 0925 GMT, Hochschild shares were down 0.28% at 107.40p.
Reporting by Iain Gilbert at Sharecast.com
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