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Date: Thursday 21 Aug 2008

LONDON (ShareCast) - Latin America-focused Hochschild Mining reported a 86% jump in core earnings in the first half and said it is on track to achieve its 2008 production target.

Adjusted earnings before interest, tax, depreciation and amortisation rose to $104m in the six month ended 30 June compared with $55.9m last time. The firm also posted a 92% hike in revenue to $231.8m.

Total attributable production for the first half was 11.9m silver equivalent ounces, comprising 7.4m ounces of silver and 74 thousand ounces of gold.

“We continue to deliver on our growth strategy through capacity expansions, an aggressive exploration programme and by securing niche acquisitions in key mining districts,” said chief executive Eduardo Hochschild.

“With production on track and a stronger than ever project pipeline, I look to the future with confidence,” he added.

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