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Hochschild Mining PLC on Wednesday said first-quarter production was in line with expectations despite weather-related challenges in Brazil, and reaffirmed its full-year guidance. The London-based gold and silver miner in Argentina, Brazil and Peru produced 79,941 gold equivalent ounces in the three months ended March 31, including 58,021 ounces of gold. It also produced 1.8 million ounces of silver. Output was supported by a ‘solid performance’ at Inmaculada in Peru and steady operations at San Jose in Argentina, but the Mara Rosa mine in Brazil was hit by heavier-than-usual rains and labour challenges, Hochschild said. Production there totalled 16,059 ounces of gold. Shares in Hochschild Mining were down 11% to 272.96 pence in London on Wednesday morning. Despite the weaker showing at Mara Rosa, the company reiterated its 2025 guidance for 350,000 to 378,000 gold equivalent ounces at all-in sustaining costs of between $1,587 and $1,687 per ounce. Chief Executive Officer Eduardo Landin said production in the second quarter is expected to be ‘broadly in line’ with the first, but reiterated confidence in a second-half recovery. ‘We have implemented a series of measures including the expansion of our waste removal fleet, and during the second quarter we will accelerate waste removal,’ Landin said. Total net debt at March 31 was $248 million, up from $216 million at the end of 2024, reflecting the timing of payments related to community agreements, bonuses and taxes. Cash stood at $83 million, down from $97 million. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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