Hochschild announces a “strong” increase in gold and silver production in 2021
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(Kitco News) – Hochschild Mining today announced that its 2021 attributable production was 362,972 gold equivalent ounces or 31.2 million silver equivalent ounces, in line with the company’s forecast and a strong increase of 25% compared to the year 2020 affected by the Covid.
The company also said it expects its overall sustaining cost for 2021 to be in line with guidance of $1,210 to $1,250 per gold equivalent ounce ($14.1 to $14.5 per ounce). silver equivalent).
Hochschild added that in 2021, Inmaculada delivered gold equivalent production of 238,238 ounces (2020: 176,086 ounces), with an increase from 2020 due to the impact of two Covid-19 related shutdowns. in 2020. Gold grades and recoveries were higher. than originally planned.
Pallancata produced 4.4 million ounces of silver equivalent (2020: 4.8 million ounces) with a reduction from the original forecast (5.4 to 5.6 million ounces) due to the effects lower than expected grades, in line with the current declining production profile.
San Jose produced a total of 12.4 million silver equivalent ounces (2020: 9.7 million ounces), the increase from 2020 reflecting the Covid-related shutdowns, which impacted the 2020 result. Grades were lower than budgeted for the year, but almost offset by better than expected tonnage.
The company added that the overall attributable production target for 2022 is 360,000 to 375,000 gold equivalent ounces or 26.0 to 27.0 million silver equivalent ounces. The all-in sustaining cost of operations in 2022 is expected to be between $1,330 and $1,370 per gold equivalent ounce (or $18.5 and $19.0 per silver equivalent ounce).
CEO Ignacio Bustamante said, “Our operations delivered another solid quarter of production and we once again successfully ended the year on schedule.”
Hochschild Mining is a precious metals company primarily focused on the exploration, mining, processing and sale of silver and gold. Hochschild has over fifty years of experience in exploiting epithermal vein deposits of precious metals and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has many long-term projects across the Americas.
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