Production Report 12mth
January 16 2007 - 2:03AM
UK Regulatory
RNS Number:5684P
Hochschild Mining PLC
16 January 2007
16 January 2007
Hochschild Mining plc today announces its Production Report for the twelve
months to 31 December 2006
Highlights:
* Total production for the six months to 31 December 2006 ("H2") was 6.1
million ounces of silver and 93 thousand ounces of gold
* In-line with expectations at the time of the IPO, H2 production was
slightly higher than in the six months ended 30 June 2006 ("H1")
* Total silver production was up 12% in H2 versus H1 primarily due to
increased production at Arcata and Selene
* Total gold production was down 10% in H2 versus H1 due to the anticipated
decrease in ore grade at Ares
The planned expansions at the Ares processing plant were successfully completed
on time taking the capacity from 280 ktpa to 325 ktpa. The plant will be
undergoing testing during January 2007. The planned expansions at Arcata and
Selene, taking the capacity from 350 ktpa to 420 ktpa and from 350 ktpa to 700
ktpa, respectively, are on schedule for completion within budget during 2007.
The expansion at the Selene plant accommodates for the extension of the Selene
mine in addition to the commencement of production from Pallancata.
On 10 December 2006, the Group announced it would exercise its option to acquire
a 70% stake in the Santa Maria de Moris mine in Chihuahua, Mexico.
The Group's three new projects which are scheduled to begin production during
2007 are on track. San Jose will start producing during Q2 2007 while Pallancata
and Mina Moris will commence production in Q3 2007. These three projects are
expected to contribute to profits in 2008.
Total production H2 H1 Full Year Full Year
2006 2006 2006 2005
-------------------------------------------------------------------------
Silver production (Koz) 6,136 5,467 11,604 10,550
Gold production (Koz) 93 103 196 232
Total silver equivalent (Koz) 11,707 11,640 23,347 24,543
ARCATA
Product H2 H1 Full Year Full Year
2006 2006 2006 2005
-------------------------------------------------------------------------
Ore production (tonnes) 178,162 135,526 313,688 282,199
Concentrate produced (tonnes) 7,192 5,214 12,407 10,787
Silver grade in concentrate (kg/t) 11.50 12.49 11.92 12.31
Silver produced (Koz) 2,660 2,094 4,754 4,271
Gold produced (Koz) 6.93 4.96 11.89 7.19
ARES
Product H2 H1 Full Year Full Year
2006 2006 2006 2005
------------------------------------------------------------------------
Ore production (tonnes) 147,609 141,529 289,138 281,095
Dore total (Koz) 1,357 1,493 2,850 3,151
Silver produced (Koz) 1,281 1,406 2,688 2,944
Gold produced (Koz) 72.16 83.35 155.5 198.55
SELENE
Product H2 H1 Full Year Full Year
2006 2006 2006 2005
-------------------------------------------------------------------------
Ore production (tonnes) 181,642 178,044 359,686 288,919
Concentrate produced (tonnes) 1,865 1,947 3,812 3,559
Silver grade in concentrate (kg/t) 36.61 31.43 33.96 29.15
Silver produced (Koz) 2,195 1,967 4,162 3,335
Gold produced (Koz) 13.76 14.57 28.34 27.48
Hochschild Mining's Preliminary results will be announced on 20 March 2007.
Enquiries:
Hochschild Mining plc
Wray Barber +44 (0)20 7152 6014
Head of Investor Relations
Finsbury
Robin Walker +44 (0)20 7251 3801
Public Relations
- ends -
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The company news service from the London Stock Exchange
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