22nd Jul 2026 10:29
(Alliance News) - Hochschild Mining PLC on Wednesday said it delivered a "solid operational performance" in the second quarter of 2026, although costs were seen above guidance mainly reflecting higher metals prices.
London-based Hochschild is a gold and silver miner in Argentina, Brazil and Peru. Its shares were up 2.1% to 455.00 pence on Wednesday in London. The wider FTSE 250 index was down 0.4%.
Attributable production was 1.5 million ounces of silver and 56,215 ounces of gold in the second quarter of 2026. This compared with 1.6 million ounces of silver and 55,214 ounces of gold in the first quarter of 2026, and 2.0 million ounces of silver and 57,640 ounces of gold in the second quarter of 2025.
Attributable all-in sustaining costs are currently 5% to 10% above the guided range of USD2,157 to USD2,320 per gold equivalent ounce, Hochschild said, reflecting the impact of higher prices on royalties, workers profit sharing & selling expenses, stronger-than-expected local currencies and continued net cost inflation in Argentina.
Average realisable precious metal prices in the second quarter were USD3,861 an ounce for gold and USD65.8 an ounce for silver, compared to USD2,940 for gold and USD34.4 for silver a year ago.
Hochschild said any required revisions to the annual cost guidance will be communicated alongside half-year results in August.
Chief Executive Eduardo Landin said: "We have delivered a solid operational performance during Q2, with Inmaculada and San Jose generating robust operating cash flow while Mara Rosa continued to make good progress as we execute our operational turnaround."
Hochschild Mining said production at its Inmaculada mine in Peru was in line with expectations, leaving it on track to meet full-year guidance.
Production at Brazilian gold mine Mara Rosa increased in the second quarter compared to the first, due to improved plant stability and continued operational turnaround, while San Jose, the gold and silver mine in Argentina, achieved half-on-half production growth and is on track to meet full-year guidance.
Development work continues at the Monte Do Carmo gold project in Brazil with an investment decision expected in the second half of 2026.
The company had USD51 million in net cash as of June 30, swung from net debt of USD22.7 million at the end of 2025.
By Jeremy Cutler, Alliance News reporter
Comments and questions to [email protected]
Copyright 2026 Alliance News Ltd. All Rights Reserved.
Related Shares:
Hochschild