January 15, 2020 / 7:21 AM / 3 days ago

CORRECTED-Hochschild Mining posts better than expected 2019 production

(Corrects headline and first paragraph to show Hochschild has not cut its 2020 production outlook. The company said it used a different gold to silver price ratio to calculate production outlook than previously used.)

Jan 15 (Reuters) - Precious metals miner Hochschild Mining on Wednesday reported better-than-anticipated output in 2019, boosted by record production at its Inmaculada mine in southern Peru.

Hochschild, which operates two mines in southern Peru and one in Argentina, said it expects to produce 422,000 gold equivalent ounces in 2020. In November it forecast 432,000 gold equivalent ounces.

The company said the outlook figures varied because it used a different gold to silver price ratio in November 2019.

Gold production for the year ended Dec. 31, 2019 was 9.4% lower than a year earlier at 477,400 gold equivalent ounces, as the company stalled its operations at its Arcata mine in south west Peru in early 2019.

The company had expected production of 457,000 gold equivalent ounces in 2019. (Reporting by Shanima A in Bengaluru; Editing by Bernard Orr)

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