Make Kitco Your Homepage

Peru's Buenaventura says 2021 guidance unchanged despite COVID-19 concerns

Kitco News

Editor's Note: With so much market volatility, stay on top of daily news! Get caught up in minutes with our speedy summary of today's must-read news and expert opinions. Sign up here!

(Kitco News) - Compañia de Minas Buenaventura, Peru’s largest publicly-traded precious and base metals mining company, today announced its Q1 2021 production results.

On a 100% basis, the company produced 116,566 oz of gold, 3,751,752 oz of silver, 5,193 tonnes of lead, 13,274 tonnes of zinc and 7,687 tonnes of copper.

At Tambomayo, gold production was below expectation due to continued Covid-19 related personnel restrictions resulting in less ore treated, as well as longer than expected maintenance works during the month of February. Silver production was above projections for the quarter due to higher silver grades. 2021 guidance remains unchanged.

At Orcopampa, gold production was below expectations due to less ore treated resulting from Covid-19 related personnel restrictions. Additional staff and resources will be allocated to expedite production for the balance the year. 2021 guidance remains unchanged.

At Coimolache, La Zanja and Julcani, gold and silver production was in line with expectations. 2021 guidance remains unchanged.

At Uchucchacua, silver, lead and zinc production was below expectations due to lower production resulting from underground mine development delays, specifically delayed mine ramp-up.

Marcapunta’s copper production was above expectations with increased ore treated during the quarter due to the 2021 re-scheduled open pit production mining sequence. 2021 guidance remains unchanged.

Tajo Norte’s zinc production was below expectations due to polymetallic-ore production re-scheduled until later in the year. 2021 guidance remains unchanged.

Compañía de Minas Buenaventura is Peru’s largest, publicly traded precious and base metals company and a major holder of mining rights in Peru. The company is engaged in the exploration, mining development, processing and trade of gold, silver and other base metals via wholly-owned mines and through its participation in joint venture projects.

Disclaimer: The views expressed in this article are those of the author and may not reflect those of Kitco Metals Inc. The author has made every effort to ensure accuracy of information provided; however, neither Kitco Metals Inc. nor the author can guarantee such accuracy. This article is strictly for informational purposes only. It is not a solicitation to make any exchange in commodities, securities or other financial instruments. Kitco Metals Inc. and the author of this article do not accept culpability for losses and/ or damages arising from the use of this publication.