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Hochschild Says Prepared To Enter Into Dialogue With Peru On Mining Issue

Hochschild Mining PLC (HOC.L, HCHDF) said the Peruvian Head of Cabinet indicated that approvals will no longer be granted to facilitate additional mining or exploration activities regarding the company's Pallancata and Inmaculada mining operations.

The company said it has not received any formal communication from the government regarding the matter.

The company said it has learnt through various media outlets of minutes of a meeting signed by the Peruvian Head of Cabinet, certain vice-ministers as well as regional authorities in the town of Coracora in the Ayacucho region. The minutes refer to alleged environmental complaints, and state that a commission has been constituted in order to negotiate the timetable and terms for the closure of certain mining projects in southern Ayacucho, including the company's Pallancata and Inmaculada mines.

The company said it is prepared to enter into a dialogue with the government in order to resolve any misunderstandings with respect to its mining operations. The company will vigorously defend its rights to operate the mines using all available legal avenues.

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