Hochschild Group will invest $426 million up to 2014 in two of its silver projects in the south of Peru. At the Inmaculada silver projects, in Ayacucho, Hochschild will invest $315 million to develop an underground mine expected to produce 3,500 t/d of ore. The aim is to produce12 Moz of silver (and gold production) starting from the fourth quarter of 2013.
Hochschild will also execute the Crespo project in Cusco, representing an investment of $111 million. This capital will be used to set up a plant to process 6,850 t/d of ore and produce 2.7 Moz of silver as of 2014. The company has decided to postpone the feasibility study of the Azuca project in Cusco, due to the recent finding of high-grade of veins in the region, and to the greater potential of mineral resources. On the one hand, Hochschild Group’s General Manager, Ignacio Bustamante,stated that more engineering studies will be carried out in the projects. On the other hand, Minera Suyamarca, a subsidiary of Hochschild Group, agreed to approve the merger with Compañía Minera Apurímac Ampay, a company involved in mining in the Apurimac region.