Hochschild Mining maintains annual guidance as Mara Rosa improves

Hochschild Mining PLC on Wednesday maintained its annual production and cost guidance after reporting improved performance at its Mara Rosa mine in Brazil during the third quarter.

The London-based precious metals miner operates across South America. It said attributable production totalled 74,004 gold equivalent ounces in the three months that ended September 30, up from 72,020 ounces a year earlier but down from 76,230 ounces in the second quarter.

Attributable production for the first nine months of 2026 reached 225,835 gold equivalent ounces, down from 237,190 ounces a year earlier.

Mara Rosa produced 17,001 gold equivalent ounces in the third quarter, up from 14,610 in the second, benefiting from an operational turnaround and the appointment of a new mining contractor. September production reached 8,019 ounces, the mine's strongest monthly performance so far this year.

Meanwhile, the Inmaculada mine in Peru performed in line with expectations, Hochschild said, while operations at San Jose in Argentina were temporarily hampered by extreme winter weather.

Hochschild reaffirmed its full-year production guidance of 300,000 to 328,000 gold equivalent ounces at a revised all-in sustaining cost of USD2,380 to USD2,500 per gold equivalent ounce. In 2025, Hochschild produced 311,509 gold equivalent ounces at an AISC of USD2,138 per ounce.

"We have delivered a strong operational performance during Q3 and remain on track to meet our full-year production and cost forecasts," said Chief Executive Eduardo Landin.

The company also reported an improved net cash position of approximately USD91 million at September 30, up from USD51 million at June 30. Total cash and short-term investments increased to USD349 million from USD309 million.

Hochschild expects to make a final investment decision on its Monte Do Carmo gold project in Brazil by the end of December.

Shares in the miner were 2.9% lower at 491.20 pence in London on Wednesday morning.

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