Hochschild delivers strong Q3 as production guidance maintained

Precious metals miner Hochschild Mining has maintained its full-year production guidance after reporting its strongest third quarter in nearly five years.

The company delivered attributable production of 96,327 gold equivalent ounces or 8.0m silver equivalent ounces, representing a 16% increase compared with the second quarter.

"In Brazil, our new Mara Rosa mine has been steadily ramping up to full production rates in the period and the Inmaculada flagship mine in Peru has continued to deliver the benefits from our continuous improvement programme," said chief executive Eduardo Landin.

Hochschild said it still expects to produce 343,000 to 360,000 gold equivalent ounces this year, up from 300,749 ounces in 2023. Meanwhile, all-in sustaining cost guidance for 2024 has been held at between $1,510 and $1,550 per gold equivalent ounce.

"With the current metal price momentum along with the forecast strong production in the last quarter, we can look forward to further robust cashflow generation," Landin said.