Hochschild Mining Shares Surge 5% Following Successful Asset Sale in Peru

Hochschild Mining shares rose 5% after selling the Arcata mine and Azuca project to Sierra Caraz. This aligns with the company’s strategy of concentrating on core assets in Peru, Brazil, and Argentina.

Hochschild Mining PLC experienced a 5% increase in its shares following the completion of the sale of its previous Arcata mine and Azuca project to Sierra Caraz. The details of the transaction remain undisclosed. This sale aligns with Hochschild’s strategy to concentrate on its primary assets in Peru, which include the Inmaculada and the Pallancata-Royropata projects, as well as its operations in Brazil and Argentina.

The Arcata mine, a silver-focused underground operation in Arequipa, Peru, was active from 1964 until 2019, when it transitioned to care and maintenance. The Azuca project, situated 60 kilometers from Arcata, is also centered on silver extraction. Sierra Caraz is associated with Sierra Sun Precious Metals, a private firm with mining interests in Peru. In early trading, Hochschild’s stock valued at 193.44p, representing an increase of 9.44p.

In conclusion, Hochschild Mining’s strategic divestiture of its Arcata mine and Azuca project highlights its commitment to focusing on its core investments in Peru and neighboring countries. The positive market response, reflected in a 5% share increase, signifies investor confidence in the company’s direction and operational focus.

Original Source: www.proactiveinvestors.co.uk