MW: Gold and silver miner Hochschild swings to annual loss
Gold and silver producer Hochschild Mining Plc said on Wednesday it swung to an annual loss after an impairment charge.
The Latin American miner moved to an attributable loss after exceptionals of $19.0 million from an attributable profit after exceptional items of $85.1 million in 2007.
The results were impacted by $45 million of exceptional items, including a $34.7 million impairment relating to fixed assets at its Selene, Moris and San Felipe operations.
It previously announced 2008 attributable production of 26.1 million silver equivalent ounces, comprised of 16.9 million ounces of silver and 152.9 thousand ounces of gold. On Monday, the Latin American miner said labour strikes had started at all four of its mines in Peru [ID:nLN215497]
