Hochschild Mining is to ramp up its hunt for gold as it steps up spending on exploration in three different countries and signals its renewed interest in acquisitions. The FTSE 250 gold and silver miner, based in Peru, will allocate $10m (£7.2m) to “greenfields” development - that is, virgin mine sites - this year, its highest level since 2013. It will pursue four to six “attractive” targets in Peru, Chile and the US. Ignacio Bustamante, chief executive, said the company had “reshuffled its portfolio to make it leaner and more attractive”.