Precious metals major Hochschild Mining has raised its production target for 2017 after exceeding annual production targets last year with record outputs of gold and silver.
The company, which has headquarters in Lima, Peru, and operates three mines in the country as well as one in Argentina, posted its highest level of attributable production to date with 17.3 million ounces of silver and 246.1 thousand ounces of gold in the 12 months ended December 31st, according to a production update which was published on Wednesday. This compared with 14.8 million ounces of silver and 166 thousand ounces of gold in 2015.
The company said that it also produced 35.5 million silver equivalent ounces last year, which was up 31% from the level recorded in 2015, and 479.6 thousand gold equivalent ounces, up from 365.4 thousand ounces in 2015.
For 2017, Hochschild has set an attributable production target of 37 million silver equivalent ounces, exceeding previous guidance of 35 million ounces.