LONDON Jan 21 Latin American miner Hochschild
beat its production target for 2013 and reduced costs
by between 12 and 16 percent last year, as it attempts to
improve performance in an environment of lower precious metals
Hochschild, which has projects in Argentina and Chile but
whose Peruvian mines provide the bulk of its production, said on
Tuesday it produced 20.5 million ounces of attributable silver
equivalent last year.
The miner said it expects to produce 21 million ounces in
2014 and is looking to cut all-in sustaining costs by 0-5
percent during the year.
The Lima-based company introduced several cost cutting plans
last year including a temporary halt to its dividend, reductions
to directors' salaries and slashing its exploration budget.