Hochschild Mining has secured regulatory approval for a modified environment impact assessment for its Inmaculada gold-silver operation in south-west Peru.

Valid for 20 years, the permit has been issued by SENACE, Peru’s National Service of Environmental Certification for Sustainable Investments.

It allows Hochschild to develop high-grade reserves and resources close to the Inmaculada operations.

The company said it will also resume the brownfield exploration strategy at the property.

In a press statement, Hochschild said: “The company will now focus on implementing its growth strategy whilst maintaining the highest levels of safety, environmental stewardship and responsible business practices.”

Hochschild CEO Ignacio Bustamante said: “This approval represents a significant achievement for Hochschild and the Peruvian mining industry and demonstrates the government’s commitment to confirming Peru’s position as an attractive mining-friendly jurisdiction.

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“We believe this world-class deposit will continue to underpin our company for many decades to come and are looking forward to reigniting the successful brownfield exploration programme and continuing to invest in the region and its communities.”

Commissioned in 2015, the Inmaculada underground mine comprises 40 mining concessions.

Located in the Ayacucho Department in southern Peru, the mine is characterised by both low and high sulphidation epithermal mineralised systems.

Hochschild chief operating officer Eduardo Landin said the company is in a position to advance its long-term strategic objectives.

Landin added: “Having secured Inmaculada’s future, we can look forward to first production from our exciting Mara Rosa project in Brazil in the first half of 2024, progressing the new Royropata deposit at our Pallancata operation and continuing to assess value-accretive business development opportunities.”