Buenaventura’s Production Falls in 3Q; Looks to De-Bottlenecking Program to Cut Costs
Buenaventura saw production fall during the third quarter, with gold ounces from direct operations declining 25% year on year to 72,518 ounces. Lower production at Orcopampa and La Zanja were the major drivers of the fall. Combined with an 8% lower average realized gold price, revenue fell 27% to $266 million. As a result, EBITDA from direct operations fell 55% to $53 million. Better performance from investments helped protect profitability for the company, as Yanacocha and Cerro Verde saw EBITD...
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