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Mining company Hochschild Mining forecast increased production for 2021 after reporting full-year production at the higher end of its revised forecasts.
For 2020, full year attributable production was 289,293 gold equivalent ounces, compared with revised guidance of 280,000-to-290,000 gold equivalent ounces.
The company said there was a 'strong ongoing recovery versus the previous two quarters with the Inmaculada and Pallancata mines in full production throughout the period.
All-in sustaining costs from operations in 2020 were expected to be below revised guidance at between $1,200 and $1,250 per gold equivalent ounce or $14.0 and $14.5 per silver equivalent ounce, the company said.
For 2021, the company forecast a production target in the range of 360,000-to-372,000 gold equivalent ounces, with all-in sustaining costs expected to be $1,210-to-$1,250 per gold equivalent ounce and capital expenditure to be approximately $120-to-130 million.
At 8:09am: (LON:HOC) Hochschild Mining PLC share price was 0p at 235.4p