REG - Hochschild MiningPLC - Mara Rosa Update

Hochschild MiningAnnouncement

Tue 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20250610:nRSJ0957Ma&default-theme=true

RNS Number : 0957M  Hochschild Mining PLC  10 June 2025

 

_____________________________________________________________________________________

 

10 June 2025

 

Mara Rosa Update

 

 

Hochschild Mining PLC ("Hochschild" or "the Company") (LSE: HOC) (OTCQX:
HCHDF) provides the following update on its Mara Rosa operation in Brazil.

 

The Company has previously disclosed that operations at Mara Rosa have been
adversely affected by heavier-than-usual seasonal rainfall over the past few
months as well as contractor performance issues. These conditions have limited
access to ore, particularly the higher-grade zones within the pit, and have
further compounded ongoing challenges with the filtering processes. As a
result, efforts to recover from delays in mine waste removal carried over from
the previous year have been further prolonged.

 

Following the resignation of the Company's Chief Operating Officer, as
announced on 27 May 2025, Eduardo Landin, CEO, has temporarily assumed
operational responsibilities and is leading a comprehensive review of all
mining, processing and disposal activities at Mara Rosa to identify
constraints to the mine's output. As part of this review, a temporary
suspension of the processing plant of approximately six weeks is anticipated
in order to carry out general maintenance activities and mechanical filter
repair work. Mining operations will continue as planned. The review team is
actively engaging with stakeholders in order to achieve a sustained
improvement in performance.

 

At the start of the year, the Mara Rosa mine was expected to produce between
94,000 and 104,000 ounces of gold in 2025 and as at the end of May, the mine
had produced just over 25,000 ounces of gold. The measures being taken are
expected to result in a significant reduction to that guidance and this will
have a corresponding impact on the operation's costs.

 

An update on progress of the review and revised full year Group guidance will
be provided in due course.

 

The Company confirms that production at both the Inmaculada mine in Peru and
San Jose in Argentina is in line with expectations.

 

Eduardo Landin, Chief Executive Officer commented:

"The wide-ranging measures we are taking at Mara Rosa are focused on achieving
a sustainable level of operational performance. We remain confident in the
geological potential of the asset and in Brazil's role as a key pillar of our
long-term growth strategy."

_____________________________________________________________________________________

 

Enquiries:

 

Hochschild Mining PLC

Charles
Gordon
       +44 (0)7739 320982

Head of Investor Relations

 

Hudson Sandler

Charlie Jack
                           +44 (0)207 796 4133

Public Relations

_____________________________________________________________________________________

 

This announcement contains inside information for the purposes of Article 7 of
the Market Abuse Regulation (EU) 596/2014 (as it forms part of domestic UK law
pursuant to the European Union (Withdrawal) Act 2018). The person responsible
for arranging the release of this announcement is Raj Bhasin, UK Counsel &
Company Secretary.

 

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' experience in the mining of precious metal epithermal vein deposits and
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 the
Monte do Carmo Advanced Project and numerous long-term projects throughout the
Americas.

_____________________________________________________________________________________

 

LEI: 549300JK10TVQ3CCJQ89

- ends -

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  UPDDGGDLXUGDGUC