{"id":1099665,"date":"2019-02-13T14:45:03","date_gmt":"2019-02-13T14:45:03","guid":{"rendered":"http:\/\/www.mining.com\/?p=969951"},"modified":"2019-02-13T16:40:03","modified_gmt":"2019-02-13T16:40:03","slug":"hochschild-mining-halts-peruvian-mine-on-low-silver-prices","status":"publish","type":"post","link":"https:\/\/juniorminingnews.com\/?p=1099665","title":{"rendered":"Hochschild Mining halts Peruvian mine on low silver prices"},"content":{"rendered":"

Precious metals miner Hochschild Mining (LON: HOC) has been forced to halt operations at its\u00a0<\/a>Arcata gold and silver mine<\/a> in Peru, saying that low silver prices had left it little choice but to make that move.<\/p>\n

The company, which operates three mines in southern Peru and one in southern Argentina, said Arcata would be on \u201cfull care and maintenance\u201d by the second quarter of 2019.<\/p>\n

Any potential restart would be dependent on market conditions, said\u00a0Hochschild.<\/q><\/p>\n

\u201cThis decision has been expected but is still disappointing for the organization … but the continuing low silver price over some years and current geological conditions leaves us no option,\u201d Chief Executive Officer Ignacio Bustamante said in a statement<\/a>.<\/p>\n

Spot silver prices have gained as much as 15% since bottoming out in November. But while the metal is currently trading at around $15.70 per ounce, prices have been on a steady downward path since peaking above $20 per ounce in June 2016, partly due to slower industrial demand.<\/p>\n

Hochschild will continue exploration work at Arcata, its first mining operation dating back to 1964 and would regularly review market conditions for a potential restart of operations.<\/p>\n

The mine, located in\u00a0Arequipa, southern Peru, produced an estimated 6,250 koz of silver and 20 koz of gold in 2018.<\/p>\n

The post Hochschild Mining halts Peruvian mine on low silver prices<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

The company, which operates three mines in southern Peru and one in southern Argentina, said that any potential restart would be dependent on market conditions.<\/p>\n

The post Hochschild Mining halts Peruvian mine on low silver prices<\/a> appeared first on MINING.com<\/a>.<\/p>\n","protected":false},"author":8,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-gradient":""}},"footnotes":""},"categories":[1500,404,369,440],"tags":[48,71,86,102],"_links":{"self":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1099665"}],"collection":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1099665"}],"version-history":[{"count":3,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1099665\/revisions"}],"predecessor-version":[{"id":1099730,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=\/wp\/v2\/posts\/1099665\/revisions\/1099730"}],"wp:attachment":[{"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1099665"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1099665"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/juniorminingnews.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1099665"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}