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Hochschild reaches record gold, silver output in Q3

Hochschild Mining Plc's attributable output in the third quarter increased to 10.3 million silver equivalent ounces, compared to 9.9 million silver equivalent ounces produced in the year-ago quarter.

The record three-month production included 5.3 million ounces of silver and 67,234 ounces of gold, up from 5 million ounces of silver and 66,380 ounces of gold in the same quarter of 2016.

The Pallancata mine in Peru delivered tonnage and grades above expectations for a production of 2.6 million silver equivalent ounces, and the Inmaculada mine in Peru recorded its second strongest quarter to date with a silver equivalent output of 4.7 million ounces.

Hochschild's nine-month attributable production rose to 28.2 million silver equivalent ounces, from 26.9 million silver equivalent ounces a year ago, according to the Oct. 18 release.

Silver production in the nine months increased to 14.3 million ounces and gold production improved to 188,664 ounces, from 13.2 million ounces and 184,500 ounces, respectively.

The LSE-listed miner said it is on track to achieve its full year production target of 37 million silver equivalent ounces, with all-in sustaining costs of between US$12.2 to US$12.7 per silver equivalent ounce.