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Hochschild shares drop by a third as Peru seeks to shut mines
Neil Hume and Gideon Long
Financial Times, London
Monday, November 22, 2021
The market value of Hochschild Mining dropped by almost a third today after Peru moved to close two of its mines on environmental grounds, deepening a clash between the mining industry and the left-leaning government.
Shares in the FTSE 250 company were 32% down in lunchtime trading, having initially dropped by more than half, following Peruvian prime minister Mirtha Vasquez's weekend announcement that four mines in the southern Ayacucho region, two of which are owned by Hochschild, would be "closed as soon as possible."
... Dispatch continues below ...
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Hochschild said it would "vigorously defend its position" and that its mines operated under the "highest environmental standards."
The intervention by the government of President Pedro Castillo will send a chill through the mining sector. The South American country is the world's second-biggest producer of copper and a significant source of gold, silver, zinc, and tin. ...
... For the remainder of the report:
https://www.ft.com/content/74521753-c47a-4f1d-900f-8272f10e9305
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* * *
Toast to a free gold market
with great GATA-label wine
Wine carrying the label of the Gold Anti-Trust Action Committee, cases of which were awarded to three lucky donors in GATA's recent fundraising campaign, are now available for purchase by the case from Fay J Winery LLC in Texarkana, Texas. Each case has 12 bottles and the cost is $240, which includes shipping via Federal Express.
Here's what the bottles look like:
http://www.gata.org/files/GATA-4-wine-bottles.jpg
Buyers can compose their case by choosing as many as four varietals from the list here:
http://www.gata.org/files/FayJWineryVarietals.jpg
GATA will receive a commission on each case of GATA-label wine sold. So if you like wine and buy it anyway, why not buy it in a way that supports our work to achieve free and transparent markets in the monetary metals?
To order a case of GATA-label wine, please e-mail Fay J Winery at bagman1236@aol.com.
* * *
Support GATA by purchasing
Stuart Englert's "Rigged"
"Rigged" is a concise explanation of government's currency market rigging policy and extensively credits GATA's work exposing it. Ten percent of sales proceeds are contributed to GATA. Buy a copy for $14.99 through Amazon --
-- or for an additional $3 and a penny buy an autographed copy from Englert himself by contacting him at srenglert@comcast.net.
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
