Full Repayment of Joint Venture Loans (4913P)
October 04 2011 - 2:00AM
UK Regulatory
TIDMHOC
RNS Number : 4913P
Hochschild Mining PLC
04 October 2011
4 October 2011
Hochschild Receives Full Repayment of Joint Venture Loans
Hochschild Mining plc (the "Company" or "Hochschild") is pleased
to announce that the Company's 51% owned joint venture entity in
Argentina has repaid the entire outstanding principal and accrued
interest on the shareholder and project finance loans. These loans
were originally made to finance the construction and subsequent
expansion of the mine.
Hochschild received net proceeds of approximately $96 million
from this repayment consisting of approximately $66 million from
the repayment of the project finance loan and approximately $30
million from the shareholder loan. Hochschild's joint venture
partner, Minera Andes Inc, received net proceeds of approximately
$29 million from this repayment.
Enquiries
Hochschild Mining plc
Charles Gordon +44 (0)20 7907 2934
Head of Investor Relations
Finsbury
Charles Chichester +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 / HOC LN) 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 four underground epithermal vein mines, three located in
southern Peru, one in southern Argentina and one open pit mine in
northern Mexico. Hochschild also has numerous long-term prospects
throughout the Americas.
This information is provided by RNS
The company news service from the London Stock Exchange
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