Business
Commencement of Production
Commencement of Production.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n Hochschild Mining PLC\n18 September 2007\n\n\n \n18 September 2007\n\n\nHochschild Mining plc commences production at the Pallancata mine and completes\n capacity expansion at the Selene plant\n\n\n• Commencement of production at Pallancata marks another important\n milestone in Hochschild's growth strategy\n\n• Doubling plant capacity at Selene exemplifies Hochschild's ability to\n leverage its existing operations and regional knowledge to efficiently expand\n production\n\n• During the course of 2007, Hochschild has expanded from three\n operations in one country to six operations in three countries, Peru, Argentina\n and Mexico\n\n• Hochschild is on track to reach its production target of 26 million\n silver equivalent attributable ounces in 2007 (14 million silver attributable\n ounces and 200 thousand gold attributable ounces)\n\nEduardo Hochschild, Chairman of Hochschild Mining plc, said,\n\n'Thus far, 2007 has been an exciting year for the Hochschild Mining Group as we\ncontinue to deliver on our project pipeline. We have successfully expanded plant\ncapacity at Ares, Arcata and Selene and have commenced production at San Jose in\nArgentina, Moris mine in Mexico and now Pallancata in Peru.'\n\nHochschild Mining plc ('Hochschild' or the 'Group') is pleased to announce that\nit has commenced production at the Pallancata mine on time and within budget at\nan initial rate of 180 ktpa. Pallancata is a silver and gold mine located in\nsouthern Peru approximately 22 kilometers from the existing Selene operation and\nis a joint venture between Hochschild (60%) and International Minerals\nCorporation ('International Minerals') (40%) and is operated by Hochschild.\nCommencement of production at Pallancata further solidifies Hochschild's ability\nto bring new projects into production on time. This year Hochschild has expanded\nfrom three operations in one country to six operations in three countries, Peru,\nArgentina and Mexico.\n\nProcessing throughput capacity at the Selene plant has increased from 350 ktpa\nto 700 ktpa to accommodate the Pallancata ore. Initially, while Pallancata is\nbeing ramped up to approximately 270 ktpa over the next 12 months, approximately\nseventy-five percent of the throughput capacity at the Selene plant will be used\nfor the Selene ore with the remaining twenty-five percent for the Pallanca...