Hochschild Mining Group
Hochschild Mining Group
is a leading producer with decades of experience in the filed of silver and gold mining production in the Americas. The company is UK-based with headquarters in Lima, Peru and additional offices in Argentina, Chile, and Mexico. Hochschild Mining has been listed under the symbol HOC on the Main Market of the London Stock Exchange since 2006.The Company’s production in 2008 amounted to 16.9 million ounces of silver and 153 thousand ounces of gold. Hochschild is a mid-tier gold producer.
Hochschild Mining was founded by Mauricio Hochschild in Chile in 1911. Hochschild Group then expanded into Bolivia. Initially, the Group focused on trading with minerals, and its first mines were brought into operation in the 1940s. The period between 1960s and 1970s was marked by further expansion in mining into Peru, Brazil, and Chile. In 1990s, the Group launched a comprehensive exploration program for the further development of sites in Peru. The following years witnessed expansion into Peru, Argentina, Mexico, and Chile.
An essential asset of the Hochschild Mining is its management team of experienced professionals which successfully executes the Group’s strategy of international expansion. At present, Hochschild Mining Group owns three mining sites
in Peru; an open pit mine in Mexico; 51% of San José in Argentina, and 60% of Pallancata in Peru. They were brought into operation after joint venture agreements. In addition, the Group has other 16 long-term prospects in Argentina, Chile, Mexico, and Peru and has recently expanded into Canada through its strategic investment in Lake Shore Gold Corp.
The Peruvian properties of the Group are Arcata, Ares, and the Selene plant.
The wholly owned Arcata site is located in the Department of Arequipa. Its production in 2008 was 20,639 tons of concentrate, with 9 million ounces of silver and 24 thousand ounces of gold. The Ares site, also wholly owned by the Group, is located in the Andes Mountains. The site consists of an underground mine and a processing plant. In 2008, Ares produced 1.5 million ounces of silver
and 64.2 thousand ounces of gold. The third wholly owned Peruvian site, the Selene plant, is located in the Department of Apurímac. An operating mine till May 2009, Selene produced 3,201 tons of concentrate, 1.6 million ounces of silver, and 1.9 thousand ounces of gold in 2008. Pallancata mine is located 22 km away from the Selene site. Its production in 2008 totaled 4.3 million tons of concentrate, 4.2 million ounces of silver, and 16.2 thousand ounces of gold.
The San José mine in Argentina started operations in 2007 and a year later, its capacity was increased from 750 to 1,500 tons per day. Production amounted to 4.4 million ounces of silver and 54.3 thousand ounces of gold in 2008. The Moris open pit mine, located in the Moris district of Chihuahua, Mexico, is 100 percent owned by Hochschild and produced 65 thousand ounces of silver and 26.9 thousand ounces of gold in 2008.
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