July 16 Latin American miner Hochschild Mining
Plc reported a 3.3 percent rise in first-half silver
production and said it was on track to achieve its 2014 target
of 21 million attributable silver equivalent ounces.
The gold and silver producer, whose Peruvian projects
provide the bulk of its output, said attributable silver
equivalent production for the six months ended June 30 rose to
11.85 million ounces from 11.48 million ounces a year earlier.
The Lima-based company said its cash flow optimisation
programme had helped it surpass more than $200 million of
savings and that it had identified further cost-saving
initiatives in administration, operations and exploration.
Hochschild has been focusing on cutting costs after being
hit hard by a tumble in precious metals prices last year. In
March it decided to suspend dividend payments until its cash
(Reporting by Karen Rebelo and Roshni Menon in Bangalore;
Editing by Gopakumar Warrier)