UK-based silver and gold mining company Hochschild Mining has secured the Modified Environment Impact Assessment (MEIA) approval for its Inmaculada operation in Peru.

Peru’s National Service of Environmental Certification for Sustainable Investments (SENACE) has granted regulatory approval.

Hochschild said that the MEIA approval is an important step, enabling the mine to generate significant additional value for all stakeholders over the coming two decades.

It aims to focus on implementing its growth strategy while maintaining high levels of safety, environmental stewardship and responsible business practices.

Also, the environmental permit underlines its long-term commitment to investing in the Ayacucho region and its communities, said Hochschild.

Hochschild Mining 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.

“I would like to congratulate all the teams involved who have worked tirelessly for four years on the MEIA and have ensured Inmaculada’s long-term future.

“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.”

Inmaculada is a 20,000ha gold and silver underground mine, located 112km from the Pallancata operation, in the Ayacucho Department in southern Peru.

The operation, which was commissioned in 2015, contains forty mining concessions.

It comprises both low and high-sulphidation epithermal mineralised systems, hosted by veins, breccias and disseminations.

Hochschild initially owned the majority stake in the Inmaculada mine and the company later obtained 100% interest through the acquisition of IMZ, in December 2013.

Hochschild Mining chief operating officer Eduardo Landin said: “Our Company is now in a strong position to advance our long-term strategic objectives.

“Having secured Inmaculada’s future, we can look forward to the 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.”