Ganancias de BVN cayeron 51%
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News 19.75 -1.47 Peru's Buenaventura 1Q Net Income Falls 51% to $102.7 Mln
Apr 30, 2013 00:22:58 (ET)
By Ryan Dube
LIMA, Peru--Peru precious-metals miner Compania de Minas Buenaventura SAA's (BUENAVC1.VL) first-quarter net income declined 51% to $102.7 million because of lower metal prices and higher operating costs.
Net income was $208.1 million in the year-earlier quarter.
"These results were mainly due to lower metal prices, higher operating costs and lower contributions from both affiliates Yanacocha and Cerro Verde," Chief Executive Roque Benavides said.
Revenue was $354.7 million compared with $377 million.
Gold production, including output from Yanacocha in which the company owns 43.65%, was 243,811 ounces--down 12% owing to a decline in output from Yanacocha.
Silver production rose 14% to 4.72 million ounces as output increased at its Uchucchacua mine.
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April 30, 2013 00:22 ET (04:22 GMT)