Hochschild Mining gold output jumps, cuts debt by half
Precious metals miner Hochschild Mining on Wednesday reported a near 9% jump in third-quarter gold production, helped by higher output at its Inmaculada mine in southern Peru, and said its debt has more than halved in the period.
Gold production climbed to 67,797 ounces in the quarter ended Sept. 30 from 62,432 ounces a year earlier. The miner’s net debt was $61 million as of June 30.
“Commodity prices have been favourable in Q3 and combined with the consistent operational delivery we have been able to reduce leverage further and ended the quarter with net debt of $30m,” the company said.
(By Shanima A; Editing by Arun Koyyur)