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Compañía de Minas Buenaventura S.A.A. reports recurring developments tied to its Peruvian precious and base metals mining business and its BVN American depositary receipts. News centers on quarterly operating and financial results, production and volume sold by metal, mine-level performance, capital expenditures, liquidity, net debt and earnings conference calls.
The company explores, develops, processes and commercializes gold, silver and other base metals through wholly owned mines and joint venture projects in Peru. Recurring updates reference operations such as Orcopampa, Uchucchacua, Julcani, Tambomayo, La Zanja, San Gabriel, El Brocal and Coimolache, as well as Buenaventura's interest in Sociedad Minera Cerro Verde and related copper concentrate trading activity.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) has promoted Mr. Aldo Massa to Vice President of Business Development and Commercial, effective immediately. Previously serving as Commercial Manager since February 2020, Massa brings over 23 years of mining experience, including a role at Southern Copper Corporation. CEO Leandro Garcia praised Massa's leadership and negotiation skills, emphasizing his importance in developing key partnerships. Buenaventura is Peru's largest publicly traded precious metals mining company, engaged in mining gold, silver, and base metals.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima: BUE.LM) has appointed Mr. Raul Benavides to its board of directors, effective immediately. He replaces Dr. José Miguel Morales Dasso, who retired after reaching the maximum age limit for board members. Mr. Benavides brings 40 years of experience with the company, previously serving as Vice President of Business Development. The Chairman, Mr. Roque Benavides, expressed confidence in Raul’s ability to enhance profitability and shareholder value while acknowledging Dr. Morales’ significant contributions during his 50 years of service.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN; Lima Stock Exchange: BUE.LM) announced the retirement of Mr. Raul Benavides, Vice President of Business Development, after 40 years at the Company. Mr. Benavides significantly contributed to the growth of Buenaventura, including the initiation of operations at major mines such as Yanacocha and Coimolache. He held the VP position since 2011 and previously managed business development and mining operations. Buenaventura remains Peru's largest publicly traded precious metals mining company with extensive mining rights and operations.
Compañía de Minas Buenaventura S.A.A. (NYSE: BVN) reported strong 3Q20 results, with EBITDA from direct operations at US$ 68.5 million, up from US$ 26.5 million in 2Q20. Adjusted EBITDA rose to US$ 183.9 million, a 9% increase from 3Q19. Net income surged to US$ 24.4 million compared to US$ 4.5 million in 3Q19. Despite a 1% decline in total revenues to US$ 228.2 million, the company maintained a robust cash position of US$ 265 million. Notably, Buenaventura refinanced a US$ 113 million leasing payment, extending its maturity by 18 months.
Compañia de Minas Buenaventura S.A.A. (NYSE: BVN) reported its 3Q20 production results, revealing a recovery in operations across most mines post-COVID. Key highlights include gold production of 16,108 ounces in September, with total gold output reaching 47,778 ounces for 9M20. Silver production stood at 395,913 ounces for September, totaling 1,191,454 ounces for the year. The company plans to enhance transparency by releasing monthly production data moving forward. Despite operational adjustments due to COVID-19, most mines have returned to pre-pandemic levels, except Uchucchacua, which continues to face workforce challenges.
Compañía de Minas Buenaventura S.A.A. (NYSE: BVN) will hold its Third Quarter 2020 earnings conference call on October 30, 2020, at 10:00 AM ET. This call will provide insights on the company's financial and operational performance, with results released on October 29, 2020, after market close. Key executives, including CEO Leandro García Raggio, will participate. Buenaventura is Peru’s largest publicly traded precious and base metals company, involved in mining operations across several key sites.