Business
Response to Recent Events in Peru
Response to Recent Events in Peru.
About this update from Hochschild Mining Plc
[{"type":"text","content":"\n \n \n \n RNS Number : 0929T\n Hochschild Mining PLC\n 22 November 2021\n \n \n \n \n ____________________________________________________________________________________\n \n \n \n \n \n 22 November 2021 \n \n \n \n \n \n Response to Recent Events in Peru\n \n \n \n \n \n Hochschild Mining PLC\n \n (\"Hochschild\" or the \"Company\") (LSE: HOC) (OTCQX: HCHDF) has learnt through various media outlets of minutes of a meeting signed by the Peruvian Head of Cabinet, certain vice-ministers as well as regional authorities in the town of Coracora in the Ayacucho region. The minutes refer to alleged environmental complaints, and state that a commission has been constituted in order to negotiate the timetable and terms for the closure of certain mining projects in southern Ayacucho, including the Company's Pallancata and Inmaculada mines. The Peruvian Head of Cabinet subsequently indicated that approvals will no longer be granted to facilitate additional mining or exploration activities in relation to these mining operations. The Company has not received any formal communication from the government regarding this matter.\n \n \n \n \n \n The Company believes this conduct by the Peruvian Head of Cabinet is not in accordance with Peruvian law and is wholly without merit. Accordingly, Hochschild will vigorously defend its position and take all action necessary to ensure that the rights of the Company and its wholly-owned subsidiaries under Peruvian and international law are respected. \n \n \n \n \n \n The Company operates under the highest environmental standards and applies industry best practice. As such, Hochschild categorically rejects any inference with regard to environmental pollution. The Company's sustainable operations are strictly regulated and supervised by several Peruvian regulatory bodies and our activities remain in compliance with their requirements. The Company has a long history of undertaking its operations with a commitment to responsible mining and has been publicly recognized on numerous occasions for its approach to sustainable practices.\n \n \n \n \n \n In Peru alone, Hochschild employs more than 5,000 people directly and approximately 40,000 people indirectly. In addition to being a significant employer, Hochschild contributes a material a...