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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.
Buenaventura (NYSE: BVN) has released its Q1 2025 production and sales results. The company's total gold production including associated operations reached 31,483 ounces, against a 2025 guidance of 122.6k-144.4k ounces. Silver production totaled 3.5M ounces, with Yumpag being the largest contributor at 2.2M ounces.
Notable operational highlights include Tambomayo exceeding gold and silver projections due to higher ore volumes, while Uchucchacua faced challenges with lead and zinc output falling below guidance due to lower grades. The company achieved strong average realized prices: Gold at $2,943/oz, Silver at $32.22/oz, and Copper at $9,292/MT.
Yumpag demonstrated exceptional performance, surpassing Q1 projections through access to high-grade stopes. El Brocal maintained steady copper and gold production, with silver outperforming guidance due to strategic mining of high-silver content blocks.
Buenaventura (NYSE: BVN) reported strong financial results for Q4 and full-year 2024. Q4 EBITDA from direct operations reached US$ 93.4 million, up from US$ 74.0 million in Q4 2023. Full-year EBITDA excluding the Chaupiloma Royalty Company sale was US$ 431.2 million, significantly higher than US$ 199.2 million in 2023.
The company reported Q4 net income of US$ 33.6 million, compared to a US$ 9.8 million loss in Q4 2023. Full-year net income reached US$ 402.7 million, including the Chaupiloma sale. The company ended 2024 with a cash position of US$ 478.4 million and total net debt of US$ 148.3 million.
Production results showed mixed performance with decreases in silver, zinc, lead, and gold output, while copper production increased by 5% YoY. The company received US$ 166.5 million in dividends from Cerro Verde in 2024 and proposed a dividend of US$ 0.2922 per share/ADS.
Buenaventura (NYSE: BVN) has released its Q4 2024 production results and 2025 guidance. Key highlights include:
Total gold production reached 39,362 ounces in Q4 2024, with annual production of 148,683 ounces. Silver production totaled 3.96M ounces in Q4, with annual production of 15.48M ounces. The company produced 14,191 metric tons of copper in Q4, reaching 56,525 metric tons for the full year.
For 2025, Buenaventura projects gold production guidance of 108.5k-129.5k ounces and silver production of 13.8M-15.7M ounces. Notable operational updates include Tambomayo expecting a 40% decrease in throughput, Orcopampa projecting a 45% reduction in annual throughput, and El Brocal achieving 12,500 tpd in underground mining. The San Gabriel project remains on track for production initiation in Q4 2025.
Average realized prices in Q4 2024 were $2,641/oz for gold, $31.17/oz for silver, and $8,883/MT for copper.
Buenaventura (NYSE: BVN) has announced its Fourth Quarter 2024 earnings conference call, scheduled for Friday, February 21, 2025, at 10:00 AM (Eastern/Lima Time). The Q4 results will be released on Thursday, February 20, after market close. CEO Leandro García Raggio and other senior management members will participate in reviewing the company's financial and operating results.
Buenaventura is Peru's largest publicly traded precious and base metals company, operating several mines including Orcopampa, Uchucchacua, Julcani, Tambomayo, La Zanja, El Brocal, and Coimolache. The company also holds a 19.58% stake in Sociedad Minera Cerro Verde, a significant Peruvian copper producer partnered with Freeport-McMorRan Inc. and Sumitomo
Buenaventura (NYSE: BVN) has successfully completed the settlement of its cash tender offer for its 5.500% Senior Notes due 2026. The tender offer, which expired on January 29, 2025, resulted in valid tenders of US$401,392,000 in aggregate principal amount of Notes, representing approximately 72.98% of outstanding Notes.
The company made payments to noteholders who validly tendered their Notes or delivered a Notice of Guaranteed Delivery, offering US$1,000 per US$1,000 principal amount, plus accrued and unpaid interest. The tender offer was managed by Banco BTG Pactual S.A. – Cayman Branch and J.P. Morgan Securities as dealer managers.
Buenaventura (NYSE: BVN), Peru's largest publicly-traded precious metals mining company, has successfully issued US$650 million in senior unsecured notes due 2032. The notes bear an interest rate of 6.800% per annum and are fully guaranteed by Inversiones Colquijirca, Procesadora Industrial Río Seco, and Consorcio Energético Huancavelica.
The notes were offered through private placement to qualified institutional buyers under Rule 144A and to non-U.S. persons under Regulation S. The company plans to use the proceeds to refinance its outstanding 5.500% Senior Notes due 2026 and for general corporate purposes. This transaction aims to strengthen Buenaventura's credit profile and extend debt maturities.
Buenaventura (NYSE: BVN) announced the expiration of its cash tender offer for its 5.500% Senior Notes due 2026. At the expiration time on January 29, 2025, valid tenders were received for US$400,601,000 in aggregate principal amount, representing approximately 72.84% of outstanding Notes. Additional Notices of Guaranteed Delivery were submitted for US$850,000 in principal amount (0.15% of outstanding Notes).
Subject to conditions, Buenaventura expects to make payment on February 4, 2025, offering US$1,000 per US$1,000 principal amount of Notes, plus accrued and unpaid interest. Holders who validly tendered Notes or submitted Notices of Guaranteed Delivery must complete the process by January 31, 2025, to be eligible for payment.
Buenaventura (NYSE: BVN) has launched a cash tender offer for all outstanding 5.500% Senior Notes due 2026, with US$550 million currently outstanding. The company is offering to purchase the notes at US$1,000 per US$1,000 principal amount, plus accrued interest.
The tender offer expires at 5:00 p.m., New York City time, on January 29, 2025, with a withdrawal deadline at the same time. The settlement is expected four business days after expiration. The offer is contingent on completing a new notes offering to fund the purchase.
Holders can tender their notes directly or through guaranteed delivery procedures by January 31, 2025. Banco BTG Pactual and J.P. Morgan Securities are acting as dealer managers for the tender offer, with D.F. King & Co. serving as the tender agent and information agent.
Buenaventura (NYSE: BVN), Peru's largest publicly-traded precious metals mining company, has announced its upcoming Analyst and Investor Day scheduled for December 10, 2024, in New York. The event will feature presentations from the company's senior management team, including the CEO, CFO, and various Vice Presidents overseeing operations, sustainability, business development, projects, and exploration.
The event will commence with breakfast at 9:00 AM ET, followed by presentations at 9:30 AM ET. Pre-registration is required by December 3, 2024, for in-person attendance. Buenaventura operates several mines in Peru and holds a 19.58% stake in Sociedad Minera Cerro Verde, a significant Peruvian copper producer.
Buenaventura (NYSE: BVN) reported strong financial results for Q3 2024, with EBITDA from direct operations reaching US$ 132.4 million, a 149% increase from Q3 2023. Net income for Q3 2024 was US$ 236.9 million, compared to a US$ 28.0 million loss in Q3 2023. The company's cash position reached US$ 457.9 million with a net debt of US$ 224.7 million.
Production highlights include increases in silver (2.5M Oz), zinc (96% YoY), lead (206% YoY), and gold (7% YoY), while copper decreased by 9% YoY. The company completed the sale of Chaupiloma Royalty Company to Franco-Nevada for US$ 210 million and received a credit rating upgrade from Moody's to B1 with positive outlook.