Cost savings update
June 08 2009 - 2:00AM
UK Regulatory
TIDMHOC
RNS Number : 4879T
Hochschild Mining PLC
08 June 2009
8 June 2009
Hochschild delivers cost savings through installation of new power lines
Hochschild Mining plc ("Hochschild") is pleased to announce that it has
successfully completed the construction of new power lines at its operations in
Peru and Argentina to ensure that each site has the most cost effective and
reliable supply of energy.
The installation of new power lines is just one of a number of projects which
Hochschild is undertaking to maximize operational efficiency and reduce costs,
supporting its target of reducing unit cost per tonne by 5% in 2009 compared to
2008.
In Peru, a new 22 kilometre replacement 66 kV power line has been installed at
Arcata which has increased the available energy supply following the plant
expansion undertaken in 2008. At Selene, where the ore from Pallancata is
processed, a new 74 kilometre, 60 kV power line has been installed which is
working in parallel with the existing 30 kV power line to provide energy to
Selene and Pallancata.
In Argentina, a new 130 kilometre, 132 kV power line and transformation
station have been installed which connect the San José operation to the national
grid, eliminating the need to use onsite generators as a primary source of
energy. The new power line should cover any future capacity increase at the
operation.
Miguel Aramburú, Chief Executive Officer of Hochschild Mining plc, commented:
"The installation of new power lines is just one of a number of projects which
Hochschild is undertaking to maximize operational efficiency and is already
delivering cost savings for our operations in Peru and Argentina. We remain on
track to deliver our target of reducing unit cost per tonne by 5% in 2009
compared to 2008".
Enquiries:
Hochschild Mining plc
Isabel Lutgendorf +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
currently operates five underground epithermal vein mines, four located in
southern Peru, one in southern Argentina, one open pit mine in northern Mexico
and numerous long-term prospects throughout the Americas. Hochschild has over
forty years experience in the mining of precious metal epithermal vein deposits.
For further information please visit www.hochschildmining.com.
This information is provided by RNS
The company news service from the London Stock Exchange
END
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