Buenaventura sees steady gold output, higher silver production in 2014

|By:, SA News Editor

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.