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 robert.kozak@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Compania Min Buen (BVN)
DateTimeHeadline
02/28/201400:03:16Peru's Buenaventura Posts $288.4 Million Net Loss in 4th Quarter
12/09/201317:31:15ADR Shares End Mixed as Markets Digest Fed Officials' Speeches
11/25/201317:24:04ADR Shares End Lower Despite Early Boost From Iran Nuclear Pact
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30
11/15/201309:01:33HBK Investments LP 3Q 13F: Holdings As Of Sep 30 -2-
11/15/201306:57:25Millennium Management 3Q 13F: Largest Eliminations
11/15/201306:57:17Millennium Management 3Q 13F: Largest Purchases
11/15/201306:57:17Millennium Management 3Q 13F: Largest Sales
11/15/201306:57:17Millennium Management 3Q 13F: Largest Eliminations -2-
10/02/201318:17:49Peru's Humala Says Development of Minas Conga in Hands of Yanacocha
09/16/201316:33:16Peru's Mines Minister Says Confident Tia Maria, Minas Conga to...
08/21/201313:05:08Peru Protesters Remove Gate on Road to Yanacocha's Conga Mine...
07/31/201314:01:33Peru's Buenaventura Plans to Lower Capital Spending for Minas...
06/26/201310:24:51Peru's Buenaventura Sees $1 Billion Investment in Gold Project
06/18/201311:30:11Protesters Target Conga Mine Project in Peru Again
06/17/201312:23:44Protests Against Conga Mine Project in Peru Continue
06/10/201311:39:48Peru Minister Says Minas Conga Continuing as Planned
04/30/201313:02:34Peru's Buenaventura Says Cutting Costs, Chucapaca Gold Project...
04/25/201312:36:24Peru's Buenaventura: Conga Project May Be Complicated by Low...
04/11/201312:54:33Peru Antimining Protesters Target Yanacocha Property

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 1999-2007 ADVFN PLC. | Privacy Policy | Investment Warning | Data accreditations | Investor Relations

ADVFNADVFN ItalyADVFN GermanyADVFN FranceADVFN BrazilADVFN JapanADVFN UKADVFN US noad