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    Home > Finance > UK's Hochschild Mining slashes gold production forecast from Brazilian mine, shares plummet
    Finance

    UK's Hochschild Mining slashes gold production forecast from Brazilian mine, shares plummet

    Published by Global Banking & Finance Review®

    Posted on August 27, 2025

    2 min read

    Last updated: January 22, 2026

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    Quick Summary

    Hochschild Mining slashes its gold production forecast for the Mara Rosa mine, causing shares to tumble by nearly 20%. The mine faced disruptions, leading to reduced output.

    Hochschild Mining Cuts Gold Production Outlook, Shares Tumble

    (Reuters) -Britain's Hochschild Mining slashed full-year production forecast for its Mara Rosa mine by more than half on Wednesday, months after a shutdown due to lacklustre gold output, sending shares down nearly 20%.

    The gold mine - Hochschild's first operation in Brazil - has faced contractor and weather-related disruptions, leading to production delays and reduced output, while costs continued to climb.

    The mine's gold production is now expected to reach only 35,000-45,000 ounces this year, down from its previous forecast of 94,000-104,000 ounces.

    Hochschild shares, which fell as much as 19.6% to 246.2 pence, dragged the wider FTSE 350 precious metals and mining index down 2.3% by 0730 GMT.

    "Although the guidance downgrades do not catch us by surprise, the cost levels guided for 2025 drive a recalibration to our future forecasts," RBC Capital Markets analysts said in a note, cutting Hochschild's price target to 320 pence from 340 pence.

    Mara Rosa has since restarted operations, the firm said, and will cost about $29-$30 million in sustaining and developmental expenses this year.

    Its minimal contribution to production in the third quarter also led to a cut in total annual gold production to 291,000-319,000 ounces, from 350,000-378,000 ounces.

    (Reporting by Yamini Kalia in Bengaluru; Editing by Sherry Jacob-Phillips and Janane Venkatraman)

    Key Takeaways

    • •Hochschild Mining cuts Mara Rosa mine forecast by over half.
    • •Shares drop nearly 20% following the announcement.
    • •Production delays due to contractor and weather issues.
    • •Revised production forecast of 35,000-45,000 ounces.
    • •FTSE 350 mining index impacted by the news.

    Frequently Asked Questions about UK's Hochschild Mining slashes gold production forecast from Brazilian mine, shares plummet

    1What is Hochschild Mining's revised gold production forecast?

    Hochschild Mining now expects gold production from its Mara Rosa mine to reach only 35,000-45,000 ounces this year, down from a previous forecast of 94,000-104,000 ounces.

    2How did Hochschild Mining's share prices react to the news?

    Hochschild shares fell as much as 19.6% to 246.2 pence, which also dragged the wider FTSE 350 precious metals and mining index down by 2.3%.

    3What factors contributed to the production cuts at the Mara Rosa mine?

    The production cuts were due to contractor and weather-related disruptions, which led to delays and reduced output, while costs continued to rise.

    4What are the expected operational costs for the Mara Rosa mine this year?

    The firm stated that the Mara Rosa mine will incur about $29-$30 million in sustaining and developmental expenses this year.

    5What was the impact on total annual gold production estimates?

    The minimal contribution to production in the third quarter resulted in a cut in total annual gold production estimates to 291,000-319,000 ounces, down from 350,000-378,000 ounces.

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