Hochschild consolidates presence in Brazil with production at the Mara Rosa mine

Hochschild begins commercial production at Mara Rosa gold mine in Brazil Hochschild Mining, a leading company in the precious metals sector with operations in Peru and Argentina, has achieved a significant milestone by commencing commercial production at its new gold mine, Mara Rosa, located in Brazil. May 13, 2024 marked the beginning of this new phase for the company, with the mine processing plant operating at close to 90% of its nominal capacity of 7,000 tons per day, also surpassing 80% average recoveries. The acceleration of production capacity, known as "ramp-up," is scheduled to be completed in the first semester, with high expectations for the near future. Eduardo Hochschild, the company's principal shareholder, anticipates an increase in gold production during the third and fourth quarters of 2024, projecting the mine to produce between 83,000 and 93,000 ounces of gold throughout this year. Mara Rosa represents Hochschild's first venture into the Brazilian market and is located in the state of Goiás. For the company, Brazil presents a key growth opportunity, in line with its strategy to increase production and reduce costs sustainably. With significantly low-cost production, Hochschild's operation in Brazil stands out for its efficiency and potential to provide additional resources through its brownfield exploration program. In this sense, the recent acquisition of an option to obtain 100% of the Monte Do Carmo (MDC) gold project from Cerrado Gold in the state of Tocantins strengthens the company's position in the region. "The achievement of commercial production at Mara Rosa represents a significant milestone for Hochschild and has been achieved ahead of schedule. This new jurisdiction places us in an optimal position to expand profitably in Brazil. We are pleased to see rapid progress at Mara Rosa," commented Eduardo Landín, CEO of Hochschild Mining. The company, with over 50 years of experience in the precious metals mining industry, operates two underground mines in Peru and Argentina, in addition to the open-pit gold mine in Brazil. With a focus on exploration, extraction, processing, and sale of silver and gold, Hochschild continues to consolidate its presence in the region with long-term projects distributed throughout the Americas. In summary, the inauguration of commercial production at the Mara Rosa mine in Brazil represents a significant step for Hochschild Mining, consolidating its presence in the Brazilian market and reaffirming its commitment to operational excellence and sustainable growth in the precious metals sector.