3rd Nov 2022 14:03
(Alliance News) - Hochschild Mining PLC on Thursday said it had suffered property damage after a break-in by protestors at its flagship mine in southern Peru.
Hochschild is a London-based, South America-focused precious metals company, committed to the exploration, mining, processing and sale of silver and gold.
Inmaculada is its flagship project, a 20,000 hectare underground mine located in the Ayacucho Department, Peru.
On October 31, a group of 30 people from the local community broke into the Inmaculada mining unit and "severely damaged" non-critical installations, though Hochschild did not specify which in its report.
It added that immediate action had been taken "to ensure the safety of the 1,700 employees at the operation", including the notification of local law enforcement.
Far from an isolated occurrence, the break-in follows a string of protests from indigenous communities in Ayacucho in recent months, including the blockage of Inmaculada's entrance on October 27.
Last year, the Peruvian government led by President Pedro Castillo signalled its intention to close the mine on the basis of local concerns about environmental damage, before quickly reneging on its decision.
Hochschild held discussions with community representatives on Tuesday and Wednesday, but did not reach an agreement regarding ongoing disputes. Further discussions are due to be held next week, with representatives from the Peruvian government scheduled to attend.
Production at the mine was unaffected.
Hochschild shares were trading 3.7% lower at 50.75 pence each in London on Thursday afternoon.
By Holly Beveridge; [email protected]
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