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Hochschild Mining Halts Operations At Peruvian Mines Amid Covid-19; Stock Dips

Shares of Hochschild Mining Plc. (HOC.L) were losing around 6 percent in the morning trading in London after the company announced Wednesday that it has temporarily halted operations at the Inmaculada and Pallancata mines. The move was after the Peruvian government's recent declaration of a state of emergency to contain the advancement of COVID-19.

The state of emergency took effect on March 16 and is currently expected to last for a 15-day period. After this time, the Company intends to resume production at both mines, subject to the government indicating its approval. The San Jose mine in southern Argentina remains in operation.

Hochschild said it will continue with a reduced workforce operating care and maintenance activities in order to sustain the appropriate safety and environmental systems, as well as other critical activities.

In London, Hochschild Mining shares were trading at 94.60 pence, down 6.34 percent.

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