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Hochschild Mining announces first gold pour at Mara Rosa

Published by , Editorial Assistant
Global Mining Review,

Hochschild Mining PLC has announced that the first gold pour has been achieved at the Mara Rosa Mine in Brazil. The first pour took place on 20 February.

Hochschild Mining announces first gold pour at Mara Rosa

Mara Rosa is Hochschild’s first Brazilian operation and is located in the state of Goias. The project remains on schedule with commercial production expected towards the end of the 2Q24. Mara Rosa is expected to produce between 83 000 – 93 000 oz of gold in 2024 at an all-in sustaining cost of between US$1090/oz and $1120/oz.

As announced at the 2023 Capital Markets Day, Brazil represents a key growth opportunity for Hochschild as the company continues to execute its strategy of increasing production while reducing costs. Mara Rosa will provide near-term production at a significantly lower cost, with strong potential to find additional resources through the company’s brownfield exploration programme.

Eduardo Landin, Chief Executive Officer said:

“We are all very proud of the team for delivering Brazil’s newest gold mine. Mara Rosa will be a low-cost operation that will create significant value for all our stakeholders. It plays an important part in our stated strategy of increasing production and reducing costs in the coming years. The first pour is testament to the hard work done by all our employees, contractors, and local communities who have enabled us to construct this exciting operation on schedule and on budget. With this milestone behind us, we are now focusing on completing the ramp up of the processing plant to achieve commercial production. In addition, our brownfield team is continuing its programme to further grow the resource base at a number of targets in the region.”

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Gold mining news Brazilian mining news