Hochschild starts commercial production at Brazil gold mine

Hochschild Mining has started commercial production at its US$200mn Mara Rosa gold project in Brazil's Goiás state.

The processing plant has operated at an average throughput rate of approximately 90% of nameplate capacity of 7,000t/d during May and exceeded 80% average recoveries, the company said in a statement, adding that first commercial production began May 13.

The ramp-up is on schedule to be completed in the first half and gold production is expected to continue to increase in the third and fourth quarters of 2024, with the mine on track to produce between 83,000oz and 93,000oz this year, the company said.

Mara Rosa is London-listed Hochschild's first Brazilian operation.  

The firm recently announced the securing of an option to acquire 100% of Cerrado Gold's Monte do Carmo gold project in Tocantins state. 

"This low-cost opportunity will follow the blueprint established at Mara Rosa and, if the option is exercised, MDC [Monte do Carmo] will provide the company with a further source of growth, also with a compelling cost profile," said Hochschild.

The company also operates two underground mines in Peru and one in Argentina.