Hochschild Mining achieves commercial production at its Mara Rosa gold mine

The mine is expected to boost gold output in the second half of 2024, with projections estimating an annual production of 83,000–93,000oz of gold.

Hochschild Mining announces that commercial production has been achieved at the Company's Mara Rosa gold mine in Brazil, effective 13 May 2024.

During May, the Mara Rosa processing plant has operated at an average throughput of approximately 90% of its name-plate capacity of 7,000 tonnes per day and exceeded 80% average recoveries.

The ramp-up is on schedule to be completed in H1 and gold production is expected to continue to increase in the third and fourth quarters of 2024, with the mine on track to produce between 83,000 to 93,000 ounces of gold this year.

Mara Rosa is Hochschild's first Brazilian operation and is located in the state of Goias. Brazil represents a key growth opportunity for Hochschild as the Company continues to execute its strategy of increasing production while reducing costs.

Eduardo Landin, Chief Executive Officer, said:

"Achieving commercial production at Mara Rosa is a significant milestone for Hochschild and has been delivered ahead of our end H1 2024 forecast. This brings a new jurisdiction to the Company and provides a springboard for further low-cost growth in Brazil. We are pleased that Mara Rosa is ramping up quickly and thank our team, contractors and stakeholders for their hard work and support."