ADVFN - Advanced Financial Network.
HOME» NYSE » C » BVN Stock Price » BVN Stock News

Compania Min Buen Share News

 Compania De Minas Buenaventura S.a. Stock Price
BVN Stock Price
 Compania De Minas Buenaventura S.a. Stock Chart
BVN Stock Chart
 Compania De Minas Buenaventura S.a. Stock News
BVN Stock News
 Compania De Minas Buenaventura S.a. Company Information
BVN Company Information
 Compania De Minas Buenaventura S.a. Stock Trades
BVN Stock Trades

Peru's Buenaventura Says Cutting Costs, Chucapaca Gold Project to Proceed

By Robert Kozak LIMA, Peru--Compania de Minas Buenaventura SAA (BVN, BUENAVC1.VL) has started cutting costs at its operations, the precious metals producer's chief executive said Tuesday. "We are working with a team of executives to find ways to reduce costs," Roque Benavides said in a conference call with analysts. He added that similar cost cutting was under way at the Yanacocha mine, partially owned by Buenaventura, and at copper mining company Sociedad Minera Cerro Verde SAA (CVERDEC1.VL), in which Buenaventura has a stake of about 20%. Late Monday, Buenaventura said its first-quarter net income declined 51% to $102.7 million. The weaker results were mainly due to lower metal prices, higher operating costs and lower contributions from the Yanacocha and Cerro Verde affiliates. Chief Financial Officer Carlos Galvez said a number of projects were under what he called a serious review given low metals prices. Mr. Benavides said, however, that despite lower metals prices, he remains convinced that the Chucapaca gold project in southern Peru will proceed. Gold Fields Ltd. (GFI) owns 51% of the Chucapaca project in southern Peru, and Buenaventura has a 49% stake in the project that has about 8 million ounces of gold resources. "In my experience we have a deposit there that will be developed," he said. Mr. Benavides said that Minera Yanacocha continues with work at the stalled Minas Conga copper and gold project in northern Peru. Protests against the $5.0 billion project led the joint venture Minera Yanacocha to focus on building the water reservoirs there. Mr. Benavides said that work on two reservoir dams is expected to be done by the end of the year. The project is run by majority shareholder Newmont Mining Corp. (NEM) Buenaventura has a number of operating mines in Peru, as well as a 43.65% stake in Minera Yanacocha, one of South America's largest gold mines. Write to Robert Kozak at Subscribe to WSJ:

Stock News for Compania Min Buen (BVN)
10/11/201606:14:19Report of Foreign Issuer (6-k)
10/10/201616:15:00Buenaventura Announces Third Quarter and 2016 Estimated Production...
07/27/201606:26:40Report of Foreign Issuer (6-k)
07/27/201600:33:00Buenaventura Announces Second Quarter and Six-Month 2016 Results
07/25/201612:56:00Buenaventura To Host Second Quarter 2016 Earnings Conference...
07/15/201608:00:00Industrial Metals & Minerals Stocks Technical Data -- BHP Billiton...
07/12/201606:04:19Report of Foreign Issuer (6-k)
07/11/201618:06:00Buenaventura Announces Second Quarter and 2016 Estimated Production...
07/01/201606:10:09Report of Foreign Issuer (6-k)
06/30/201618:20:00Buenaventura Announces the Completion of Its Debt Reprofiling
06/15/201608:15:00Industrial Metals & Minerals Stocks Technical Review -- BHP Billiton...
05/03/201606:04:41Report of Foreign Issuer (6-k)
05/02/201617:16:00Buenaventura Announces Filing of 2015 Annual Report on Form 20-F...
05/02/201613:14:13Annual and Transition Report (foreign Private Issuer) (20-f)
04/29/201606:57:28Report of Foreign Issuer (6-k)
04/28/201622:06:00Buenaventura Announces First Quarter 2016 Results
04/26/201614:22:00Buenaventura To Host First Quarter 2016 Earnings Conference Call...
04/12/201614:56:43Report of Foreign Issuer (6-k)
04/12/201612:47:00Buenaventura Announces First Quarter and 2016 Estimated Production...
03/30/201606:09:29Report of Foreign Issuer (6-k)

Compania Min Buen and other New York Stock Exchange stock quotes are delayed by at least 20 minutes.
All other stock price data is delayed by at least 15 minutes unless otherwise stated.
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions
Contact Us | Copyright 1999-2016 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations