Compañía de Minas Buenaventura S.A.A. is Peru's largest, publicly-traded precious metals company and a major holder of mining rights in Peru. The Company is engaged in the mining, processing, development and exploration of gold and silver and other metals via wholly owned mines as well as through its participation in joint exploration projects.
SCCO, Southern Copper Corp.
Southern Copper Corporation engages in mining, smelting, and refining mineral properties in Peru, Mexico, and Chile. It involves in the production of copper and molybdenum concentrates; smelting of copper concentrates to produce anode copper; and refining of anode copper to produce copper cathodes, as well as refined silver and copper.
Compañía de Minas Buenaventura S.A.A. (NYSE:BVN), Peru's largest publicly-traded precious metals mining company, announced that Peru's Energy and Mining Ministry granted the permits necessary to initiate metallurgical operations at Tantahuatay (Compañia Minera Coimolache S.A).
The Tantahuatay operation, which is managed by Buenaventura, is owned by three companies: Buenaventura with 40.09%, Southern Copper Corporation (NYSE:SCCO) with 44.24% and ESPRO, a private company, with 15.67%. Expected gold production at this project, which was completed in July, is estimated at approximately 100,000 ounces of gold per year.
Buenaventura's Chairman & Chief Executive Officer, Mr. Roque Benavides, stated: Buenaventura is pleased to receive the permission to initiate operations at the Tantahuatay Project. We have worked hard with the local communities and Peruvian authorities to develop an operation that will contribute to the sustainable development of the surrounding communities, while adding growth to Buenaventura's future gold production.
More about SCCO at www.southerncoppercorp.com
More About BVVN At: http://www.buenaventura.com