Hochschild continues 'business as usual' in Peru after clarification from Peruvian govt
(Kitco News) - Hochschild Mining said Thursday it welcomes the announcement issued yesterday from the Presidency of the Council of Ministers clarifying reported statements made by the Head of Cabinet on Friday 19 November.
In particular, the company notes the government's commitment to upholding the rule of law and that its express recognition of the continued rights of mining companies to request extensions and modifications of existing permits for mining and exploration activities.
In line with the announcement, the company said that its operations in southern Ayacucho, Pallancata and Inmaculada will continue to operate under the existing legal framework.
CEO Ignacio Bustamante commented, "We welcome yesterday's clarification from the Peruvian government. This has been the result of discussions between senior members of the Cabinet and representatives from the mining industry. We are pleased that our Inmaculada and Pallancata mines can continue to operate without further uncertainty and, furthermore, we reaffirm our goal to increasing our resources and extending our mine lives, in accordance with current legislation."
Hochschild Mining is a leading precious metals company listed on the London Stock Exchange (HOCM.L / HOC LN) and crosstrades on the OTCQX Best Market in the U.S. (HCHDF), with a primary focus on the exploration, mining, processing and sale of silver and gold.
Hochschild has over fifty years' experience in the mining of precious metal epithermal vein deposits and currently operates three underground epithermal vein mines, two located in southern Peru and one in southern Argentina. Hochschild also has numerous long-term projects throughout the Americas.