Hochschild Mining plc (HOC.L) reported 2012 production of 20.3 million attributable silver equivalent ounces, comprised of 13.6 million ounces of silver and 111.8 thousand ounces of gold. Hochschild said its full year production again met target. The company’s 2013 production target is maintained at 20.0 million attributable silver equivalent ounces.
In its fourth-quarter, the company produced 4.9 million attributable silver equivalent ounces comprised of 3.2 million ounces of silver and 27.4 thousand ounces of gold.
Hochschild has assigned an exploration budget of $77 million for 2013 which will be split between exploration work at the company’s existing operations, its Advanced Projects and greenfield projects. The company expects 2013 production at its core Peruvian operations to be similar to that of 2012 whilst at San Jose, a small plant capacity expansion is expected to result in increased tonnage. Production at Ares will continue to decline reflecting lower tonnages and grades, whilst production at Moris is not expected to be material, said the company.
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by RTT Staff Writer
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