- Hochschild Mining
- 23 July 2025 13:23:50
Source: Sharecast
Attributable production for the six months ended 30 June totalled 115,666 ounces of gold and 3.8 million ounces of silver, translating to 161,597 gold equivalent ounces or 13.4 million silver equivalent ounces.
In the second quarter alone, production reached 81,656 gold equivalent ounces.
“During the second quarter, we maintained a solid operational performance at both our Inmaculada and San Jose mines, generating robust operating cashflow benefiting from continued strength in precious‑metal markets,” said chief executive Eduardo Landin.
However, the FTSE 250 group said it was still conducting a full review of its Mara Rosa project, where the plant remained temporarily suspended.
“As previously disclosed, we initiated a thorough review of the Mara Rosa operation in Brazil which remains ongoing and includes a temporary suspension of the plant to improve processes, perform essential maintenance work and repairs to the mechanical filters,” Landin said.
“We currently expect to report a full update of our progress and revised guidance for 2025 at our interim results in late August.”
Mining operations at Mara Rosa were continuing during the review, and a new country manager for Brazil had been appointed.
Meanwhile, development work was progressing at the Monte do Carmo project, and the company has reported early results from its 2025 brownfield exploration campaign.
Hochschild ended the first half with total cash of approximately $110m, up from $97m at the end of December.
Net debt was reduced to around $203m from $216m, despite paying a $10m final dividend and repurchasing $13m of its Monte do Carmo streaming agreement.
The company’s net debt to EBITDA ratio stood at 0.43x as at 30 June.
In ESG performance, Hochschild noted that it had joined the United Nations Global Compact and recorded improvements in key safety and environmental indicators, including a lower lost time injury frequency rate of 1.08 and an ECO score of 5.57 out of six.
At 1300 BST, shares in Hochschild Mining were up 6.99% at 287.8p.
Reporting by Josh White for Sharecast.com.