• The CEO of the company highlighted that the approval of the environmental instrument will extend the lifespan of the mine, located in Ayacucho, by at least 20 years.

Hochschild is moving forward on its mining projects. The company's CEO, Eduardo Landin, recalled that at the beginning of August, the government approved, through the National Service of Environmental Certification for Sustainable Investments (SENACE), the Modification of an Environmental Impact Study (MEIA) for Imaculada Concepción, which operates in Ayacucho.

The approval process took at least a year, and for this reason, the executive emphasized this news during his participation in PERUMIN 36. This permit will enable the mine to operate for at least 20 more years, involving an investment of US$4 billion and ensuring the continuity of over 2700 jobs.

In the case Pallancata, the company is also conducting advanced feasibility engineering studies. Furthermore, in September, they initiated a process to obtain MEIA approval. Landin mentioned that, because of these procedures, this mine will suspend its operations for at least three years until the permits and the study approval are in place.

Nevertheless, he expressed confidence that the government will expedite these procedures to resume operations and have a positive impact on Ayacucho’s economy. He noted that Imaculada Concepción accounts for 18% of Ayacucho's GDP, and with Pallancata, this figure would increase by 9%.

Brownfield Investments

Landin deemed the promotion of brownfield investments (expansions of existing operations) critical because they are less costly, have a greater chance of leading to new discoveries, and ensure the ongoing operation of mining units, which, among other advantages, would maintain jobs. Moreover, this approach would circumvent the need for prior consultations, as it would have community acceptance.