Buenaventura’s 1Q Struggles at Owned Mines Buoyed by Stakes in Yanacocha and Cerro Verde
In the first quarter of 2019, Buenaventura’s EBITDA from direct operations fell 75% year on year to $25 million, due to lower prices and production declines at three of its mines. More favorable results at its partially owned operations helped offset the weak performance of its direct operations, as adjusted EBITDA, including associates, fell just 11% to $155 million. Profitability will continue to be driven by its ownership stakes in Yanacocha and Cerro Verde, while other mines fail to contribu...
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