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Hochschild plans London IPO

Publishing Date
13 Oct 2006 12:00am GMT
Mining Journal: 13 Oct 2006
HOCHSCHILD Mining Ltd, a privatelyowned silver- and gold-producing company which has operated in South America for over 40 years, is planning an initial public offering on the main market of the London Stock Exchange, of an as yet undisclosed size.In 2005, the company produced about 10.5 Moz of silver – making it the world’s fourth-largest primary silver producer – and 232,000 oz of gold, at cash operating costs on a coproduct basis of US$2.60/oz of silver and US$170/oz gold.Hochschild currently operates three epithermal-vein mines in southern Peru, Arcata, Ares and Selene.The company also has two latestage development projects, and two earlier-stage developments, variously located in Argentina, Mexico and Peru, and numerous other targets in South America.Eduardo Hochschild, executive chairman of the company, commented: “By listing on the London Stock Exchange, we seek to finance our Latin American growth strategy
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