Hochschild Mining FY production in line with guidance

13th Mar 2024 07:03

(Sharecast News) - South America-focused miner Hochschild reported a 10% fall in production, although in line with guidance, offset by rising prices and the devaluation of the Argentinian peso which helped to lift adjusted core earnings.

The company on Wednesday posted said adjusted EBITDA came in at $274.4m, up 10%. Revenues fell 6% to $693.7m.

Overall attributable production for 2023 was 300,749 gold equivalent ounces, in line with expectations. Higher production from Inmaculada and Pallancata was partially offset by lower production in San Jose.

"We expect attributable production in 2024 of between 343,000-360,000 gold equivalent ounces. This will be driven by: 200,000-205,000 gold equivalent ounces from Inmaculada; an attributable contribution of 60,000 - 62,000 gold equivalent ounces from San Jose; and first production from the new Mara Rosa mine of between 83,000 and 93,000 ounces," Hochschild said.

Reporting by Frank Prenesti for Sharecast.com