Buenaventura Loses Momentum in 2Q as Profits Fall on Lower Production and Higher Costs
In stark contrast to the company's strong results in the first quarter of 2017, Buenaventura struggled during the second quarter. Adjusted EBITDA including associates fell to $110 million, 40% lower than the prior-year quarter and 39% lower than first-quarter 2017. The sharp drop in profits came from both weaker production and higher costs. Gold production including associates fell 5% from the prior-year quarter to 144,804 ounces. Costs at many key mines rose over the prior-year quarter, includi...
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