Buenaventura Successfully Cutting Costs, but Sustained Gold Price Rally Leaves Little Upside
Buenaventura's cost reductions extended from the first quarter into the second quarter of 2016. Attributable all-in sustaining cost (AISC) fell to $610 per ounce, compared with $929 per ounce just a year ago. Much of this was due to improved byproduct credits from significantly higher silver, lead, zinc, and copper production, rather than significant improvements in mining costs. Combined with higher revenue due to better gold prices, EBITDA including investments rose to $189 million in the seco...
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