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Compañia de Minas Buenaventura S.A. (BVN) is a leading precious metals company based in Peru. Specializing in the mining and exploration of gold, silver, and other valuable metals, Buenaventura has established itself as a significant player in the mining industry. The company boasts extensive experience in mine exploration, development, construction, and operation activities across various mining sites.
Established with a commitment to sustainable mining practices and economic development, Buenaventura operates several key mining projects in Peru. Their portfolio includes renowned mines such as Orcopampa, Uchucchacua, and El Brocal. These sites produce a substantial amount of gold and silver, contributing significantly to the company's revenue and the local economy.
One of Buenaventura's recent achievements is the successful expansion of the Orcopampa mine, which has led to increased production capacity and improved operational efficiency. The company also engages in various exploration projects to discover new mineral reserves and ensure long-term growth.
Financially, Buenaventura has shown resilience and strategic management, maintaining a strong balance sheet and securing partnerships that enhance its capabilities and market reach. The company collaborates with notable names in the mining sector to leverage technology and expertise, ensuring optimal extraction and processing of minerals.
Buenaventura is also committed to corporate social responsibility, focusing on environmental sustainability, community development, and employee welfare. The company implements rigorous safety standards and environmental policies to minimize its ecological footprint and promote sustainable development in the regions where it operates.
Investors and stakeholders can stay updated with the latest news and developments through the company's official channels, which regularly provide insights into performance metrics, project updates, and financial reports. Buenaventura's dedication to transparency and communication ensures that all relevant information is accessible and clear.
Buenaventura (NYSE: BVN) has closed a transaction to sell its Chaupiloma subsidiary, which owns a 1.8% net smelter return royalty on Newmont's Yanacocha mine, to Franco-Nevada for $210 million in cash. The deal includes a contingent payment of $15 million in Franco-Nevada shares upon certain conditions. This move aligns with Buenaventura's strategy to strengthen its financial position and reduce leverage.
The proceeds will be used to drive growth, particularly for the San Gabriel project, which is 57% complete and on track to produce its first gold bar by the second half of 2025. Buenaventura, Peru's largest publicly-traded precious metals mining company, operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde, a significant copper producer.
Buenaventura (NYSE: BVN) reported strong financial results for Q2 2024 and H1 2024. Key highlights include:
- Q2 2024 EBITDA from direct operations: $106.9 million (vs $22.1 million in Q2 2023)
- H1 2024 EBITDA from direct operations: $201.3 million (vs $68.7 million in H1 2023)
- Q2 2024 net income: $74.4 million (vs $5.4 million loss in Q2 2023)
- H1 2024 net income: $141.4 million (vs $67.5 million in H1 2023)
- Cash position: $171.5 million as of June 30, 2024
- Net debt: $520.5 million with a leverage ratio of 1.40x
Production increases were seen in silver, zinc, and lead, while copper and gold decreased. El Brocal's processing plant resumed operations after a 16-day suspension.
Buenaventura (NYSE: BVN) has released its Q2 2024 production and sales volume results. Key highlights include:
- Gold production: 33,819 oz from direct operations, 35,247 oz including associated companies
- Silver production: 4,017,977 oz from direct operations, 3,911,774 oz including associated companies
- Lead production: 4,383 metric tons
- Zinc production: 6,352 metric tons
- Copper production: 10,123 metric tons
The company is on track to meet its 2024 guidance for most metals. Notably, Yumpag mine contributed significantly to silver production with 2,461,616 oz in Q2. El Brocal remains the primary copper producer for Buenaventura.
Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly traded precious and base metals company, announced its Second Quarter 2024 earnings conference call scheduled for July 26, 2024, at 11:00 AM Eastern Time. The event will feature CEO Leandro García Raggio and senior management. The second quarter results will be released on July 25, 2024, after market close.
The call can be accessed via a toll-free number in the US (+1 844 481 2914) or internationally (+1 412 317 0697). Participants can also use the provided link to receive an automatic call. A live webcast will be available, and a replay will be accessible for seven days post-conference.
Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde. For more information, visit their website or contact Daniel Dominguez (CFO) or Gabriel Salas (Head of Investor Relations) in Lima, or Barbara Cano at InspIR Group in New York.
Buenaventura, Peru's largest publicly traded precious metals mining company, has resumed ore processing operations at its El Brocal mine. The resumption began at midnight on June 7, 2024, to process the accumulated 220,000 tonnes of copper ore. The processing rate will ramp up to 15,000 tons per day, aiming to meet the budgeted production for Q3 2024 and the full-year 2024 production guidance. The resumption follows an agreement between the Huaraucaca community leaders and El Brocal representatives, facilitated by Peru's Ministry of Energy and Mines. The agreement addresses compliance with commitments between the parties. Buenaventura reaffirms its commitment to all signed agreements with surrounding communities.
Buenaventura (NYSE: BVN; Lima Stock Exchange: BUE.LM), Peru's largest publicly-traded precious metals mining company, has announced a voluntary, temporary suspension of its El Brocal processing plant facilities. The suspension follows an unauthorized entry by a small group from the nearby Huaraucaca Community onto the property. Despite this, underground mining operations remain unaffected, with ore stockpiled for later processing. Buenaventura is confident that it will reach a peaceful resolution with the community through ongoing dialogue. The company's primary focus remains on the safety of its employees and facilities.
Buenaventura, Peru's largest precious metals mining company, announced its first-quarter 2024 results. The company reported an EBITDA of US$94.4 million, a net income of US$67.1 million, and a cash position of US$174.0 million. Buenaventura obtained its final operating permit for the Yumpag mine, enabling production of 1,000 tons per day. The company received US$29.4 million in dividends from Cerro Verde. Financial highlights show a 33% increase in total revenues from 1Q23, with an 83% rise in EBITDA from direct operations. However, net income decreased by 5% compared to 1Q23.
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