Precious metals producer Hochschild's profit falls in 2022 due to lower production and higher costs

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Precious metals producer Hochschild's profit falls in 2022 due to lower production and higher costs Hochschild

- South America-focused precious metals producer Hochschild announced on Thursday full year 2022 attributable production of 358,826 gold equivalent ounces .

Hochschild added that all-in sustaining costs from operations were $1,364 per gold equivalent ounce in 2022 or $18.9 per silver equivalent ounce , in line with full year cost guidance of $1,330-$1,370 per gold equivalent ounce or $18.5-19.0 per silver equivalent ounce. According to a press release, adjusted EBITDA of $249.6 million mostly reflects reduced production levels and increased cost of sales, while pre-exceptional earnings per share of $0.01 includes the impact of an increase in exploration expenses due to project expenditure at Snip in Canada and a reduction in income tax mainly due to the lower profitability.

 

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