Hochschild reported a pretax profit of $108.3 million, compared with a loss of $256.2 million a year ago. (Adds outlook, background, share movement)March 8 (Reuters) - Precious metals miner Hochschild Mining Plc swung to a pretax profit in 2016, helped by strong output at its Inmaculada mine in Peru and a more favourable pricing environment. The company's production last year was 35.5 million silver equivalent ounces. Hochschild, which has mining operations in Peru, Chile and Argentina, said it expected to produce 37 million silver equivalent ounces in 2017 after exceeding its production estimates for 2016. All-in sustaining costs (AISC), the total cost of sustaining production and capital expenditure, for the year was $11.20 per silver equivalent ounce, compared with its expected range of $11-$11.50.
referring to Falling costs and rising prices have helped Hochschild Mining put an end to three years of losses. "We achieved record production, and our costs are at a record level - it was our fifth year in a row of reducing costs," he said. The FTSE 250 gold and silver miner, primarily based in Peru, enjoyed a "very profitable year", according to Ramón Barúa, chief financial officer.
referring to swung to a pretax profit in 2016, helped by strong output at its Inmaculada mine in Peru and a more favourable pricing environment. [nL8N1A029G] Hochschild Mining facebook/" target="_blank">shares fell 3.1 percent to 224.1 pence by 0845 GMT. [nL4N1CJ2T4] For 2017, it expects AISC to be in the range of $12.20-$12.70 per silver equivalent ounce. The company's production last year was 35.5 million silver equivalent ounces.
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referring to Falling costs and rising prices have helped Hochschild Mining put an end to three years of losses. "We achieved record production, and our costs are at a record level - it was our fifth year in a row of reducing costs," he said. The FTSE 250 gold and silver miner, primarily based in Peru, enjoyed a "very profitable year", according to Ramón Barúa, chief financial officer.
referring to
Hochschild Mining swings to full-year profit
The Inmaculada mine output was about 17 million silver equivalent ounces, accounting for nearly half of the company's 2016 silver output. Shutterstock photoUPDATE 1-Hochschild Mining swings to full-year profit(Adds outlook, background, share movement) March 8 (Reuters) - Precious metals miner Hochschild Mining Plcread more visit us profit
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