Royropata

In 2022, the brownfield exploration team made a significant discovery close to Pallancata, within the Royropata zone. Although it is outside the permitted area and will require approximately three years to receive the necessary government approvals, the size of the resource is already over 700,000 gold equivalent ounces with significant exploration upside. We are confident that this new zone will be the future of mining in the area in the medium to-long-term, despite the necessity to place Pallancata on temporary care and maintenance in late 2023.

The area is Located in the Ayacuho region in southern Peru and we believe that the Modified Environmental Impact Statement process should be less complex than the modified Inmaculada permit process.  Hochschild has implemented a number of initiatives to aid the process still further including: the appointment of an overall steering committee to manage the process; the selection of a single company for the engineering and environmental work; and independent peer group review to ensure quality control.