HOC Hochschild Mining Plc

 

TIDMHOC 
 
RNS Number : 2713P 
Hochschild Mining PLC 
23 March 2009 
 

 
Industrial action at Hochschild's operations in Peru 
 
 
No current impact on 2009 production target 
 
 
Hochschild Mining plc ("Hochschild") reports that there has been industrial 
action at its four operations in Peru and that it is in discussions with local 
workers to reach a resolution regarding worker's claims for greater profit 
sharing. Under Peruvian law, employees are entitled to a profit sharing of 8% of 
taxable profits. Mining industry workers are expecting profit sharing to remain 
at levels similar to previous years despite the dramatic downturn in the global 
economy, particularly during the second half of 2008. 
 
 
Despite the stoppage of operations, negotiations continue with the 
representatives of the workers and the Labour Authorities, who serve as 
mediators. Management is optimistic that a negotiated solution can be reached 
and the company will keep the market informed of developments as they occur. 
 
 
This stoppage is not currently impacting Hochschild's ability to achieve its 
full year target of 28 million silver equivalent ounces in 2009 
 
 
Enquiries: 
 
 
Hochschild Mining plc 
Isabel Lütgendorf    +44 (0)20 7907 2934 
Head of Investor Relations 
 
 
Finsbury 
Robin Walker          +44 (0)20 7251 3801 
Public Relations 
 
 
About Hochschild Mining plc: 
 
 
Hochschild Mining plc is a leading precious metals company listed on the London 
Stock Exchange (HOCM.L for Reuters / HOC LN for Bloomberg) with a primary focus 
on the exploration, mining, processing and sale of silver and gold. Hochschild 
has over forty years experience in the mining of precious metal epithermal vein 
deposits and currently operates five underground epithermal vein mines, four 
located in southern Peru, one in southern Argentina and one open pit mine in 
northern Mexico. Hochschild also has over sixteen long-term prospects throughout 
the Americas. 
 
 
 
This information is provided by RNS 
            The company news service from the London Stock Exchange 
   END 
 
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