Rocky Road Ahead For Hochschild JV

London-listed Hochschild Mining announced on February 10 that it has offered to acquire Minera Andes, its joint venture partner, or Miner Andes' interest in the San Jose mine in Argentina. Hochschild said that it offered Minera 0.22 of its shares for each Minera share. The offer, which values the miner at around US$100mn, comes just days after Minera said that it lacked the US$11.3mn it needed to help pay suppliers to the San Jose mine and the US$7.5mn to repay its Macquarie Bank loan by March.

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