Hochschild Mining cuts 2020 gold production outlook

Precious metals miner Hochschild Mining expects total gold production in 2020 to be lower than expected even as it reported better-than-anticipated output in 2019, boosted by record production at its Inmaculada mine in southern Peru.

Jan 15 (Reuters) - Precious metals miner Hochschild Mining HOCM.L expects total gold production in 2020 to be lower than expected even as it reported better-than-anticipated output in 2019, boosted by record production at its Inmaculada mine in southern Peru.

Hochschild, which operates two mines in southern Peru and one in Argentina, said it expects to produce 422,000 gold equivalent ounces in 2020, lower than its earlier forecast of 432,000 gold equivalent ounces.

Gold production for the year ended Dec. 31, 2019 was 9.4% lower than a year earlier at 477,400 gold equivalent ounces, as the company stalled its operations at its Arcata mine in south west Peru in early 2019.

The company had expected production of 457,000 gold equivalent ounces in 2019.

(Reporting by Shanima A in Bengaluru; Editing by Bernard Orr)

((shanima.a@thomsonreuters.com; shanima.a.thomsonreuters.com@reuters.net ; Within UK +44 20 7542 1810; Outside UK+91 80 6749 3167; ;))

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