LSE-listed Hochschild Mining’s share price shot up 18% on Wednesday following the announcement that the modified environment impact assessment (MEIA) for its Inmaculada gold and silver operation in south-west Peru had received regulatory approval from.
The MEIA approval from SENACE, Peru’s National Service of Environmental Certification for Sustainable Investment, is an important milestone for Hochschild, paving the way for its flagship mine to continue operating for the next 20 years.
By securing this key environmental permit, Hochschild is confirming its long-term commitment to investing in the Ayacucho region and its communities.
“This approval represents a significant achievement for Hochschild and the Peruvian mining industry and demonstrates the government’s commitment to confirming Peru’s position as an attractive mining friendly jurisdiction.
“We believe this world-class deposit will continue to underpin our company for many decades to come and are looking forward to reigniting the successful brownfield exploration programme and continuing to invest in the region and its communities,” Hochschild CEO Ignacio Bustamante said.
“Our company is now in a strong position to advance our long-term strategic objectives. Having secured Inmaculada’s future, we can look forward to first production from our exciting Mara Rosa project in Brazil in the first half of 2024, progressing the new Royropata deposit at our Pallancata operation, and continuing to assess value accretive business development opportunities,” COO Eduardo Landin added.