Commercial Production Achieved at Mara Rosa

Hochschild Mining PLC

14 May 2024

 

 

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14 May 2024

Commercial Production Achieved at Mara Rosa

Hochschild Mining PLC (HOC.LN) (OTCMKTS: $HCHDF) ("Hochschild" or "the Company") is pleased to announce that commercial production has been achieved at the Company's Mara Rosa gold mine in Brazil, effective 13 May 2024.

During May, the Mara Rosa processing plant has operated at an average throughput of approximately 90% of its name-plate capacity of 7,000 tonnes per day and exceeded 80% average recoveries. The ramp-up is on schedule to be completed in H1 and gold production is expected to continue to increase in the third and fourth quarters of 2024, with the mine on track to produce between 83,000 to 93,000 ounces of gold this year.

Mara Rosa is Hochschild's first Brazilian operation and is located in the state of Goias. Brazil represents a key growth opportunity for Hochschild as the Company continues to execute its strategy of increasing production while reducing costs. Mara Rosa is delivering production at a significantly lower cost, with excellent potential to provide additional resources which we are targeting through the Company's brownfield exploration programme. Furthermore, the Company recently announced the securing of an option to acquire 100% of Cerrado Gold's Monte Do Carmo gold project ("MDC") in the state of Tocantins. This low-cost opportunity will follow the blueprint established at Mara Rosa and, if the option is exercised, MDC will provide the Company with a further source of growth, also with a compelling cost profile.

Eduardo Landin, Chief Executive Officer, said:

"Achieving commercial production at Mara Rosa is a significant milestone for Hochschild and has been delivered ahead of our end H1 2024 forecast. This brings a new jurisdiction to the Company and provides a springboard for further low-cost growth in Brazil. We are pleased that Mara Rosa is ramping up quickly and thank our team, contractors and stakeholders for their hard work and support."

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Enquiries:

Hochschild Mining PLC

Charles Gordon                                                                                                                                                                                                  [phone]

Head of Investor Relations

Hudson Sandler

Charlie Jack                                                                                                                                                                                                       [phone]

Public Relations

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About Hochschild Mining PLC

Hochschild Mining PLC is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years' of experience in the mining of precious metal epithermal vein deposits and currently operates two underground epithermal vein mines: Inmaculada, located in southern Peru; and San Jose in southern Argentina, and an open pit gold mine, Mara Rosa, located in the state of Goiás, Brazil.  Hochschild also has numerous long-term projects throughout the Americas.

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Forward looking statements

This announcement may contain forward looking statements. By their nature, forward looking statements involve risks and uncertainties because they relate to events and depend on circumstances that will or may occur in the future. Actual results, performance or achievements of Hochschild Mining PLC may, for various reasons, be materially different from any future results, performance or achievements expressed or implied by such forward looking statements.

The forward looking statements reflect knowledge and information available at the date of preparation of this announcement. Except as required by the Listing Rules and applicable law, the Board of Hochschild Mining PLC does not undertake any obligation to update or change any forward looking statements to reflect events occurring after the date of this announcement. Nothing in this announcement should be construed as a profit forecast.

This announcement contains information which prior to its release could be considered inside information.

LEI: 549300JK10TVQ3CCJQ89

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