Seeking Alpha

Buenaventura sees steady gold output, higher silver production in 2014

  • Peru's Buenaventura (BVN) says it expects gold production to remain steady this year vs. 2013 at nearly 900K oz., which includes output from its 43.65% stake in the Yanacocha gold mine, while silver production is forecast to rise.
  • CFO Carlos Galvez says BVN reached its gold production target for 2013 despite a 17-day strike during Q4 that temporarily halted operations at its Orcopampa mine.
  • Yanacocha, majority owned by Newmont Mining (NEM) and one of the biggest gold mines in South America, is expected to produce ~1M oz. in 2014, which is about the same as last year's production.
  • Silver output in 2014 is expected to increase to 20M-20.5M oz., thanks to higher output at its Uchucchacua mine.
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