Mara Rosa First Gold-minHochschild Mining reported that the first gold pour at its Mara Rosa mine in Brazil took place on February 20, 2024. Located in the Goias state, Mara Rosa is Hochschild’s first Brazilian operation. The project remains on schedule with commercial production expected toward the end of Q2 2024. Mara Rosa is expected to produce between 83,000 to 93,000 oz of gold in 2024 at an all-in sustaining cost of between $1,090/oz and $1,120/oz.

“The first pour is testament to the hard work done by all our employees, contractors and local communities who have enabled us to construct this exciting operation on schedule and on budget,” said Eduardo Landin, CEO, Hochschild Mining. “With this milestone behind us, we are now focusing on completing the ramp up of the processing plant to achieve commercial production.”

Brazil represents a key growth opportunity for Hochschild as the company continues to execute its strategy of increasing production while reducing costs, Landin explained. Mara Rosa will provide near-term production at a significantly lower cost, with strong potential to find additional resources through the company’s brownfield exploration program.