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Hochschild Mining PLC (HOC.LN) resumed production at its San Jose mine in Argentina last week following a labor dispute, the company said Monday.
Labor discussions are underway and the company said its 2009 silver output target of 28 million attributable silver equivalent ounces hasn't been unaffected by the three days of stoppages.
Output at San Jose, in the province of Santa Cruz, stopped production last week due to a dispute among labor unions over employee affiliation. The mine is a joint venture owned 51% by Hochschild and 49% by Minera Andes Inc.
The mine resumed production Friday. It produces 18,500 attributable silver equivalent ounces a day.
Two labor unions agreed to enter discussions with the company to resolve the union affiliation dispute after the Argentine government intervened. Minera Santa Cruz, the joint venture owned by Hochschild and Minera Andes Inc., will also participate in the discussions.
-By Devon Maylie, Dow Jones Newswires; +44 (0)20 7842 9483; devon.maylie@dowjones.com
(END) Dow Jones Newswires
05-18-09 0551ET
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